DTE Energy to Post Q1 2022 Earnings of $1.96 Per Share, KeyCorp Forecasts (NYSE:DTE)

DTE Energy (NYSE:DTEGet Rating) – Analysts at KeyCorp increased their Q1 2022 earnings per share estimates for DTE Energy in a research note issued on Tuesday, April 19th. KeyCorp analyst S. Karp now forecasts that the utilities provider will post earnings of $1.96 per share for the quarter, up from their prior estimate of $1.88. KeyCorp also issued estimates for DTE Energy’s Q2 2022 earnings at $1.14 EPS, Q3 2022 earnings at $1.76 EPS and Q4 2022 earnings at $1.07 EPS.

A number of other brokerages have also weighed in on DTE. Bank of America upgraded shares of DTE Energy from an “underperform” rating to a “buy” rating and set a $127.00 target price on the stock in a research report on Tuesday, February 15th. Argus lifted their price target on shares of DTE Energy from $130.00 to $132.00 in a report on Thursday, March 10th. UBS Group lowered shares of DTE Energy from a “buy” rating to a “neutral” rating and cut their price target for the stock from $136.00 to $133.00 in a report on Friday, March 11th. Morgan Stanley lifted their price target on shares of DTE Energy from $133.00 to $143.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Edward Jones upgraded shares of DTE Energy from a “hold” rating to a “buy” rating in a report on Thursday, January 13th. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $129.90.

Shares of DTE Energy stock opened at $139.12 on Thursday. DTE Energy has a fifty-two week low of $107.38 and a fifty-two week high of $139.78. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.52 and a quick ratio of 0.39. The firm has a market capitalization of $26.95 billion, a P/E ratio of 29.79, a P/E/G ratio of 3.85 and a beta of 0.66. The company’s 50 day moving average price is $127.71 and its two-hundred day moving average price is $119.98.

DTE Energy (NYSE:DTEGet Rating) last posted its quarterly earnings results on Thursday, February 10th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.11. The business had revenue of $4.65 billion for the quarter, compared to analyst estimates of $3.18 billion. DTE Energy had a net margin of 5.90% and a return on equity of 12.59%. During the same quarter last year, the business posted $1.39 EPS.

Several large investors have recently bought and sold shares of DTE. FMR LLC increased its position in shares of DTE Energy by 6.4% during the first quarter. FMR LLC now owns 175,821 shares of the utilities provider’s stock worth $21,931,000 after acquiring an additional 10,517 shares in the last quarter. Bank of America Corp DE boosted its holdings in DTE Energy by 29.9% during the second quarter. Bank of America Corp DE now owns 1,090,786 shares of the utilities provider’s stock worth $141,367,000 after purchasing an additional 251,113 shares during the last quarter. Vontobel Holding Ltd. boosted its holdings in DTE Energy by 42.0% during the third quarter. Vontobel Holding Ltd. now owns 4,986 shares of the utilities provider’s stock worth $557,000 after purchasing an additional 1,475 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in DTE Energy by 5.1% during the third quarter. Commonwealth Equity Services LLC now owns 75,164 shares of the utilities provider’s stock worth $8,396,000 after purchasing an additional 3,676 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its holdings in DTE Energy by 1.3% during the third quarter. Janney Montgomery Scott LLC now owns 13,122 shares of the utilities provider’s stock worth $1,466,000 after purchasing an additional 170 shares during the last quarter. 73.20% of the stock is owned by institutional investors.

In other news, COO Joi M. Harris sold 1,650 shares of the business’s stock in a transaction dated Wednesday, March 2nd. The shares were sold at an average price of $120.97, for a total transaction of $199,600.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Tracy J. Myrick sold 600 shares of the business’s stock in a transaction dated Friday, March 4th. The stock was sold at an average price of $124.99, for a total transaction of $74,994.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,350 shares of company stock valued at $537,461. Insiders own 0.61% of the company’s stock.

The business also recently declared a quarterly dividend, which was paid on Friday, April 15th. Shareholders of record on Monday, March 21st were paid a $0.885 dividend. This represents a $3.54 annualized dividend and a yield of 2.54%. The ex-dividend date of this dividend was Friday, March 18th. DTE Energy’s dividend payout ratio (DPR) is currently 75.80%.

DTE Energy Company Profile (Get Rating)

DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to approximately 2.3 million residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through fossil-fuel, hydroelectric pumped storage, and nuclear plants, as well as wind and other renewable assets.

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Earnings History and Estimates for DTE Energy (NYSE:DTE)

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