DTE Energy (NYSE:DTE) Releases FY24 Earnings Guidance

by · The Markets Daily

DTE Energy (NYSE:DTE – Get Free Report) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $6.54-6.83 for the period, compared to the consensus estimate of $6.69. DTE Energy also updated its FY 2024 guidance to 6.540-6.830 EPS.

DTE Energy Trading Down 0.0 %

Shares of DTE opened at $128.68 on Thursday. The business’s 50-day moving average price is $123.56 and its 200-day moving average price is $115.89. DTE Energy has a twelve month low of $90.14 and a twelve month high of $129.53. The stock has a market cap of $26.63 billion, a PE ratio of 21.06, a P/E/G ratio of 2.32 and a beta of 0.67. The company has a quick ratio of 0.52, a current ratio of 0.69 and a debt-to-equity ratio of 1.73.

DTE Energy (NYSE:DTE – Get Free Report) last issued its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.43 EPS for the quarter, topping the consensus estimate of $1.21 by $0.22. DTE Energy had a return on equity of 12.18% and a net margin of 11.18%. The company had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.65 billion. During the same quarter in the previous year, the firm earned $0.99 earnings per share. On average, equities analysts forecast that DTE Energy will post 6.7 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Wells Fargo & Company boosted their price objective on DTE Energy from $125.00 to $133.00 and gave the stock an overweight rating in a report on Friday, July 26th. LADENBURG THALM/SH SH assumed coverage on DTE Energy in a report on Wednesday, August 14th. They set a buy rating and a $131.00 price objective for the company. Bank of America boosted their price objective on DTE Energy from $131.00 to $136.00 and gave the stock a buy rating in a report on Thursday, August 29th. Barclays upped their target price on DTE Energy from $123.00 to $128.00 and gave the stock an overweight rating in a research note on Tuesday, July 30th. Finally, BMO Capital Markets upped their target price on DTE Energy from $126.00 to $135.00 and gave the stock a market perform rating in a research note on Friday, September 6th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $128.67.

Check Out Our Latest Stock Report on DTE Energy

DTE Energy Company Profile

(Get Free Report)

DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to various residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through coal-fired plants, hydroelectric pumped storage, and nuclear plants, as well as wind and solar assets.

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