DTE Energy (NYSE:DTE) Releases Quarterly Earnings Results, Beats Estimates By $0.23 EPS

DTE Energy (NYSE:DTEGet Rating) issued its quarterly earnings data on Thursday. The utilities provider reported $2.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.08 by $0.23, MarketWatch Earnings reports. DTE Energy had a return on equity of 12.59% and a net margin of 5.90%. During the same period in the previous year, the firm posted $2.44 earnings per share. DTE Energy updated its FY22 guidance to $5.80-6.00 EPS.

Shares of DTE stock traded down $4.48 during trading hours on Friday, reaching $131.04. The company had a trading volume of 1,342,971 shares, compared to its average volume of 862,755. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.39 and a current ratio of 0.52. The stock has a fifty day moving average of $130.19 and a 200-day moving average of $121.02. The company has a market capitalization of $25.39 billion, a price-to-earnings ratio of 28.18, a PEG ratio of 3.76 and a beta of 0.66. DTE Energy has a 12-month low of $107.38 and a 12-month high of $140.23.

The business also recently declared a quarterly dividend, which was paid on Friday, April 15th. Stockholders of record on Monday, March 21st were given a $0.885 dividend. The ex-dividend date of this dividend was Friday, March 18th. This represents a $3.54 dividend on an annualized basis and a dividend yield of 2.70%. DTE Energy’s dividend payout ratio (DPR) is presently 76.13%.

In related news, CAO Tracy J. Myrick sold 600 shares of the stock in a transaction that occurred on Friday, March 4th. The stock was sold at an average price of $124.99, for a total value of $74,994.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Lisa A. Muschong sold 1,600 shares of the stock in a transaction that occurred on Friday, March 4th. The stock was sold at an average price of $127.86, for a total value of $204,576.00. The disclosure for this sale can be found here. Insiders sold 4,350 shares of company stock valued at $537,461 over the last 90 days. Company insiders own 0.61% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. JustInvest LLC lifted its stake in DTE Energy by 52.2% during the fourth quarter. JustInvest LLC now owns 5,142 shares of the utilities provider’s stock worth $615,000 after purchasing an additional 1,764 shares in the last quarter. Comerica Bank lifted its stake in DTE Energy by 0.8% during the fourth quarter. Comerica Bank now owns 54,406 shares of the utilities provider’s stock worth $6,400,000 after purchasing an additional 406 shares in the last quarter. Kingsview Wealth Management LLC acquired a new position in DTE Energy during the fourth quarter worth $223,000. Toroso Investments LLC lifted its stake in DTE Energy by 164.1% during the fourth quarter. Toroso Investments LLC now owns 4,968 shares of the utilities provider’s stock worth $594,000 after purchasing an additional 3,087 shares in the last quarter. Finally, California State Teachers Retirement System lifted its stake in DTE Energy by 1.8% during the fourth quarter. California State Teachers Retirement System now owns 331,617 shares of the utilities provider’s stock worth $39,641,000 after purchasing an additional 5,944 shares in the last quarter. Institutional investors own 73.20% of the company’s stock.

DTE has been the subject of several analyst reports. StockNews.com initiated coverage on DTE Energy in a report on Thursday, March 31st. They issued a “hold” rating for the company. Edward Jones raised DTE Energy from a “hold” rating to a “buy” rating in a report on Thursday, January 13th. 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 initiated coverage on DTE Energy in a report on Monday, April 25th. They issued a “neutral” rating and a $142.00 price target for the company. Finally, Morgan Stanley upped their price target on DTE Energy from $133.00 to $143.00 and gave the stock an “overweight” rating in a report on Wednesday, April 20th. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $130.20.

About DTE Energy (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 for DTE Energy (NYSE:DTE)

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