DTE Energy to Post Q4 2023 Earnings of $1.68 Per Share, Zacks Research Forecasts (NYSE:DTE)

Posted by Defense World Staff on May 27th, 2023

DTE Energy (NYSE:DTE – Get Rating) – Equities research analysts at Zacks Research upped their Q4 2023 earnings estimates for DTE Energy in a report released on Tuesday, May 23rd. Zacks Research analyst A. Dutta now expects that the utilities provider will post earnings per share of $1.68 for the quarter, up from their previous estimate of $1.67. The consensus estimate for DTE Energy’s current full-year earnings is $6.18 per share. Zacks Research also issued estimates for DTE Energy’s Q1 2024 earnings at $0.73 EPS, Q2 2024 earnings at $1.37 EPS, Q4 2024 earnings at $2.64 EPS and Q1 2025 earnings at $1.62 EPS.

DTE Energy (NYSE:DTE – Get Rating) last posted its quarterly earnings results on Thursday, April 27th. The utilities provider reported $1.33 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.05). DTE Energy had a net margin of 6.15% and a return on equity of 10.59%. The business had revenue of $3.78 billion during the quarter, compared to analysts’ expectations of $4.79 billion. During the same quarter in the previous year, the business posted $2.31 EPS.

Several other analysts also recently issued reports on DTE. JPMorgan Chase & Co. set a €30.00 ($32.61) price objective on shares of DTE Energy in a research report on Tuesday, March 21st. Guggenheim lowered their price objective on shares of DTE Energy from $131.00 to $127.00 in a research report on Monday, April 24th. The Goldman Sachs Group set a €25.00 ($27.17) price objective on shares of DTE Energy in a research report on Thursday, February 23rd. Barclays set a €25.00 ($27.17) price target on shares of DTE Energy in a research report on Thursday, February 23rd. Finally, Morgan Stanley raised their price target on shares of DTE Energy from $120.00 to $126.00 and gave the stock an “overweight” rating in a research report on Thursday, April 20th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $70.94.

DTE Energy Stock Down 0.4 %

Shares of NYSE:DTE opened at $106.51 on Thursday. The company has a quick ratio of 0.68, a current ratio of 0.88 and a debt-to-equity ratio of 1.66. DTE Energy has a 52-week low of $100.64 and a 52-week high of $136.77. The company has a 50 day moving average of $68.46 and a two-hundred day moving average of $66.77. The company has a market capitalization of $21.95 billion, a price-to-earnings ratio of 18.85, a price-to-earnings-growth ratio of 2.92 and a beta of 0.59.

Institutional Investors Weigh In On DTE Energy

A number of hedge funds have recently added to or reduced their stakes in DTE. Millennium Management LLC raised its stake in shares of DTE Energy by 224.8% during the fourth quarter. Millennium Management LLC now owns 2,379,882 shares of the utilities provider’s stock valued at $279,708,000 after purchasing an additional 1,647,053 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of DTE Energy by 6.6% during the first quarter. Vanguard Group Inc. now owns 23,028,699 shares of the utilities provider’s stock valued at $3,044,624,000 after purchasing an additional 1,420,586 shares in the last quarter. BlackRock Inc. raised its stake in shares of DTE Energy by 6.5% during the third quarter. BlackRock Inc. now owns 18,213,090 shares of the utilities provider’s stock valued at $2,095,415,000 after purchasing an additional 1,111,992 shares in the last quarter. Point72 Asset Management L.P. raised its stake in shares of DTE Energy by 459.1% during the fourth quarter. Point72 Asset Management L.P. now owns 1,199,900 shares of the utilities provider’s stock valued at $141,024,000 after purchasing an additional 985,300 shares in the last quarter. Finally, Neuberger Berman Group LLC raised its stake in shares of DTE Energy by 38.6% during the first quarter. Neuberger Berman Group LLC now owns 3,456,061 shares of the utilities provider’s stock valued at $378,506,000 after purchasing an additional 962,628 shares in the last quarter. 74.55% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other DTE Energy news, SVP Joann Chavez sold 4,000 shares of the firm’s stock in a transaction on Friday, May 5th. The stock was sold at an average price of $113.09, for a total value of $452,360.00. Following the sale, the senior vice president now directly owns 14,607 shares in the company, valued at $1,651,905.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.61% of the stock is currently owned by company insiders.

DTE Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, July 15th. Investors of record on Monday, June 19th will be paid a dividend of $0.9525 per share. This represents a $3.81 annualized dividend and a yield of 3.58%. The ex-dividend date is Thursday, June 15th. DTE Energy’s dividend payout ratio (DPR) is presently 67.43%.

About DTE Energy

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DTE Energy Co operates as a diversified energy company, which engages in the development and management of energy-related businesses and services. It operates through the following segments: Electric, Gas, DTE Vantage, Energy Trading, and Corporate and Other. The Electric segment consists of generation, purchase, distribution, and sale of electricity to residential, commercial, and industrial customers in southeastern Michigan.