DTE Energy (DTE) Scheduled to Post Quarterly Earnings on Thursday

DTE Energy (NYSE:DTE) is set to post its quarterly earnings results before the market opens on Thursday, April 25th. Analysts expect DTE Energy to post earnings of $1.83 per share for the quarter. DTE Energy has set its FY24 guidance at $6.54-6.83 EPS.Parties that are interested in participating in the company’s conference call can do so using this link.

DTE Energy (NYSE:DTE) last posted its earnings results on Thursday, February 8th. The utilities provider reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.01. DTE Energy had a return on equity of 11.00% and a net margin of 10.96%. The company had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $4.97 billion. During the same period in the previous year, the business earned $1.31 earnings per share. On average, analysts expect DTE Energy to post $7 EPS for the current fiscal year and $7 EPS for the next fiscal year.

DTE Energy Stock Up 2.0 %

Shares of NYSE:DTE opened at $105.27 on Thursday. The company has a quick ratio of 0.42, a current ratio of 0.60 and a debt-to-equity ratio of 1.58. DTE Energy has a 52-week low of $90.14 and a 52-week high of $116.73. The stock’s fifty day simple moving average is $108.61 and its 200-day simple moving average is $105.55. The company has a market capitalization of $21.78 billion, a P/E ratio of 15.57, a P/E/G ratio of 2.62 and a beta of 0.64.

DTE Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, March 18th were paid a $1.02 dividend. The ex-dividend date was Friday, March 15th. This represents a $4.08 annualized dividend and a yield of 3.88%. DTE Energy’s payout ratio is currently 60.36%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on DTE shares. Morgan Stanley increased their target price on DTE Energy from $108.00 to $109.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. Barclays increased their price target on DTE Energy from $112.00 to $115.00 and gave the stock an “overweight” rating in a research report on Monday. BMO Capital Markets increased their price target on DTE Energy from $111.00 to $113.00 and gave the stock a “market perform” rating in a research report on Wednesday. Guggenheim cut DTE Energy from a “buy” rating to a “neutral” rating and set a $111.00 price target on the stock. in a research report on Monday, January 22nd. Finally, KeyCorp increased their price target on DTE Energy from $106.00 to $117.00 and gave the stock an “overweight” rating in a research report on Thursday, January 4th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $114.56.

Insider Activity at DTE Energy

In other news, COO Robert A. Richard sold 4,800 shares of DTE Energy stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $107.25, for a total transaction of $514,800.00. Following the transaction, the chief operating officer now directly owns 26,118 shares in the company, valued at approximately $2,801,155.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, COO Robert A. Richard sold 4,800 shares of DTE Energy stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $107.25, for a total transaction of $514,800.00. Following the transaction, the chief operating officer now directly owns 26,118 shares in the company, valued at approximately $2,801,155.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Matthew T. Paul sold 5,850 shares of DTE Energy stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $106.92, for a total value of $625,482.00. Following the transaction, the chief operating officer now owns 6,951 shares in the company, valued at $743,200.92. The disclosure for this sale can be found here. Insiders have sold a total of 20,095 shares of company stock worth $2,168,183 in the last three months. 0.28% of the stock is owned by company insiders.

Institutional Investors Weigh In On DTE Energy

Large investors have recently modified their holdings of the stock. Milestone Investment Advisors LLC bought a new stake in shares of DTE Energy during the 1st quarter worth $40,000. Fortis Capital Advisors LLC bought a new stake in shares of DTE Energy during the 4th quarter worth $59,000. Covestor Ltd boosted its stake in shares of DTE Energy by 26.8% during the 1st quarter. Covestor Ltd now owns 813 shares of the utilities provider’s stock worth $108,000 after acquiring an additional 172 shares in the last quarter. Stonebridge Capital Advisors LLC boosted its stake in shares of DTE Energy by 155.4% during the 4th quarter. Stonebridge Capital Advisors LLC now owns 830 shares of the utilities provider’s stock worth $98,000 after acquiring an additional 505 shares in the last quarter. Finally, Pacific Center for Financial Services bought a new stake in shares of DTE Energy during the 1st quarter worth $101,000. 76.06% of the stock is owned by institutional investors.

About DTE Energy

DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to various residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through coal-fired plants, hydroelectric pumped storage, and nuclear plants, as well as wind and solar assets.