DTE Energy Forecasted to Earn FY2022 Earnings of $6.04 Per Share (NYSE:DTE)

DTE Energy (NYSE:DTEGet Rating) – Investment analysts at Seaport Res Ptn dropped their FY2022 earnings per share (EPS) estimates for shares of DTE Energy in a research report issued to clients and investors on Wednesday, November 23rd. Seaport Res Ptn analyst A. Storozynski now expects that the utilities provider will earn $6.04 per share for the year, down from their prior estimate of $6.05. The consensus estimate for DTE Energy’s current full-year earnings is $6.02 per share. Seaport Res Ptn also issued estimates for DTE Energy’s FY2023 earnings at $6.32 EPS, FY2024 earnings at $6.85 EPS and FY2025 earnings at $7.40 EPS.

DTE Energy (NYSE:DTEGet Rating) last issued its earnings results on Thursday, October 27th. The utilities provider reported $1.60 EPS for the quarter, beating the consensus estimate of $1.58 by $0.02. DTE Energy had a return on equity of 12.90% and a net margin of 5.79%. During the same quarter in the prior year, the business posted $1.72 EPS.

A number of other equities analysts have also recently commented on DTE. Credit Suisse Group raised their target price on DTE Energy to $140.00 in a report on Tuesday, August 9th. Guggenheim cut their price objective on DTE Energy from $145.00 to $122.00 in a research report on Monday, October 24th. Morgan Stanley lifted their price target on DTE Energy from $115.00 to $123.00 and gave the stock an “overweight” rating in a research report on Friday, November 11th. Wells Fargo & Company dropped their price target on DTE Energy from $147.00 to $128.00 and set an “overweight” rating for the company in a research report on Wednesday, October 19th. Finally, BMO Capital Markets raised their price target on DTE Energy from $117.00 to $125.00 and gave the stock a “market perform” rating in a research note on Tuesday. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $129.00.

DTE Energy Price Performance

NYSE DTE opened at $114.49 on Thursday. The business’s fifty day moving average price is $114.37 and its 200-day moving average price is $123.85. The stock has a market capitalization of $22.18 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 3.15 and a beta of 0.60. The company has a debt-to-equity ratio of 1.94, a current ratio of 0.79 and a quick ratio of 0.60. DTE Energy has a 1-year low of $100.64 and a 1-year high of $140.23.

Hedge Funds Weigh In On DTE Energy

Several institutional investors have recently added to or reduced their stakes in the stock. Atria Investments LLC increased its position in DTE Energy by 2.7% during the 1st quarter. Atria Investments LLC now owns 10,840 shares of the utilities provider’s stock worth $1,433,000 after purchasing an additional 282 shares during the period. Mutual of America Capital Management LLC lifted its stake in DTE Energy by 1.0% in the 1st quarter. Mutual of America Capital Management LLC now owns 29,276 shares of the utilities provider’s stock valued at $3,871,000 after buying an additional 279 shares in the last quarter. Metis Global Partners LLC lifted its stake in shares of DTE Energy by 81.1% during the 1st quarter. Metis Global Partners LLC now owns 3,067 shares of the utilities provider’s stock worth $406,000 after purchasing an additional 1,373 shares during the period. Venture Visionary Partners LLC lifted its stake in shares of DTE Energy by 5.0% during the 1st quarter. Venture Visionary Partners LLC now owns 4,280 shares of the utilities provider’s stock worth $565,000 after purchasing an additional 205 shares during the period. Finally, Arizona State Retirement System lifted its stake in shares of DTE Energy by 2.2% during the 1st quarter. Arizona State Retirement System now owns 53,926 shares of the utilities provider’s stock worth $7,130,000 after purchasing an additional 1,174 shares during the period. Institutional investors and hedge funds own 73.80% of the company’s stock.

DTE Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, January 15th. Investors of record on Monday, December 19th will be given a $0.952 dividend. This represents a $3.81 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend is Friday, December 16th. This is a boost from DTE Energy’s previous quarterly dividend of $0.89. DTE Energy’s payout ratio is 61.25%.

About DTE Energy

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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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