DTE Energy (NYSE:DTE) Releases FY22 Earnings Guidance

DTE Energy (NYSE:DTEGet Rating) updated its FY22 earnings guidance on Thursday. The company provided EPS guidance of $5.80-6.00 for the period, compared to the Thomson Reuters consensus EPS estimate of $5.93.

Several research firms have recently weighed in on DTE. Morgan Stanley boosted their target price on DTE Energy from $133.00 to $143.00 and gave the company an overweight rating in a report on Wednesday, April 20th. Bank of America raised DTE Energy from an underperform rating to a buy rating and set a $127.00 price objective for the company in a report on Tuesday, February 15th. Credit Suisse Group began coverage on shares of DTE Energy in a report on Monday. They issued a neutral rating and a $142.00 target price on the stock. StockNews.com began coverage on shares of DTE Energy in a research note on Thursday, March 31st. They set a hold rating for the company. Finally, Edward Jones raised shares of DTE Energy from a hold rating to a buy rating in a report on Thursday, January 13th. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Buy and a consensus price target of $130.20.

Shares of NYSE:DTE opened at $134.37 on Thursday. DTE Energy has a 52 week low of $107.38 and a 52 week high of $140.23. The company has a 50-day moving average price of $129.63 and a 200 day moving average price of $120.73. The company has a market cap of $26.03 billion, a P/E ratio of 28.77, a PEG ratio of 3.87 and a beta of 0.66. The company has a quick ratio of 0.39, a current ratio of 0.52 and a debt-to-equity ratio of 1.67.

DTE Energy (NYSE:DTEGet Rating) last posted its quarterly earnings results on Thursday, February 10th. The utilities provider reported $1.05 EPS for the quarter, beating the consensus estimate of $0.94 by $0.11. DTE Energy had a return on equity of 12.59% and a net margin of 5.90%. The business had revenue of $4.65 billion during the quarter, compared to analysts’ expectations of $3.18 billion. During the same period last year, the firm earned $1.39 EPS. Analysts expect that DTE Energy will post 5.96 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, April 15th. Shareholders of record on Monday, March 21st were given a dividend of $0.885 per share. The ex-dividend date of this dividend was Friday, March 18th. This represents a $3.54 annualized dividend and a dividend yield of 2.63%. DTE Energy’s payout ratio is currently 75.80%.

In related news, CAO Tracy J. Myrick sold 600 shares of the business’s stock in a transaction dated Friday, March 4th. The shares were sold at an average price of $124.99, for a total value of $74,994.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Joann Chavez sold 500 shares of the stock in a transaction dated Wednesday, February 16th. The shares were sold at an average price of $116.58, for a total transaction of $58,290.00. The disclosure for this sale can be found here. Insiders sold a total of 4,350 shares of company stock valued at $537,461 in the last quarter. Insiders own 0.61% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Metropolitan Life Insurance Co NY lifted its stake in DTE Energy by 16.9% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 22,128 shares of the utilities provider’s stock valued at $2,645,000 after buying an additional 3,196 shares in the last quarter. Glenmede Trust Co. NA lifted its position in shares of DTE Energy by 7.0% in the fourth quarter. Glenmede Trust Co. NA now owns 86,331 shares of the utilities provider’s stock valued at $10,319,000 after acquiring an additional 5,634 shares in the last quarter. Allstate Corp boosted its stake in shares of DTE Energy by 247.6% during the fourth quarter. Allstate Corp now owns 29,443 shares of the utilities provider’s stock valued at $3,520,000 after acquiring an additional 20,973 shares during the last quarter. Horizon Investments LLC increased its position in DTE Energy by 24.1% during the 4th quarter. Horizon Investments LLC now owns 3,587 shares of the utilities provider’s stock worth $429,000 after purchasing an additional 697 shares in the last quarter. Finally, California State Teachers Retirement System raised its stake in DTE Energy by 1.8% in the 4th quarter. California State Teachers Retirement System now owns 331,617 shares of the utilities provider’s stock valued at $39,641,000 after purchasing an additional 5,944 shares during the last quarter. Institutional investors and hedge funds own 73.20% of the company’s stock.

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.

See Also

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

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