Q2 2024 Earnings Estimate for DTE Energy Issued By Zacks Research (NYSE:DTE)

DTE Energy (NYSE:DTE) – Investment analysts at Zacks Research lifted their Q2 2024 earnings estimates for DTE Energy in a research report issued to clients and investors on Thursday, May 16th. Zacks Research analyst R. Department now expects that the utilities provider will post earnings per share of $1.17 for the quarter, up from their prior estimate of $1.05. The consensus estimate for DTE Energy’s current full-year earnings is $6.70 per share. Zacks Research also issued estimates for DTE Energy’s Q3 2024 earnings at $1.84 EPS, Q4 2024 earnings at $2.00 EPS, FY2024 earnings at $6.69 EPS, Q1 2025 earnings at $1.92 EPS and FY2026 earnings at $7.71 EPS.

A number of other research firms have also recently weighed in on DTE. JPMorgan Chase & Co. lifted their price objective on DTE Energy from $118.00 to $120.00 and gave the company a “neutral” rating in a research report on Wednesday, March 13th. BMO Capital Markets increased their price objective on shares of DTE Energy from $111.00 to $113.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 17th. Morgan Stanley raised their price objective on shares of DTE Energy from $108.00 to $109.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. TheStreet raised shares of DTE Energy from a “c+” rating to a “b-” rating in a report on Friday, March 15th. Finally, Scotiabank cut their price target on DTE Energy from $129.00 to $120.00 and set a “sector outperform” rating for the company in a research note on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $115.50.

DTE Energy Stock Performance

NYSE:DTE opened at $116.60 on Friday. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.54 and a current ratio of 0.75. The stock has a 50-day simple moving average of $110.63 and a two-hundred day simple moving average of $107.96. The firm has a market capitalization of $24.13 billion, a PE ratio of 19.08, a P/E/G ratio of 2.91 and a beta of 0.64. DTE Energy has a 52-week low of $90.14 and a 52-week high of $117.17.

DTE Energy (NYSE:DTE) last issued its quarterly earnings results on Thursday, April 25th. The utilities provider reported $1.67 earnings per share for the quarter, missing the consensus estimate of $1.71 by ($0.04). DTE Energy had a return on equity of 11.53% and a net margin of 10.36%. The business had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.81 billion.

Institutional Trading of DTE Energy

A number of institutional investors have recently bought and sold shares of DTE. Glenmede Trust Co. NA lifted its holdings in shares of DTE Energy by 0.9% in the 3rd quarter. Glenmede Trust Co. NA now owns 129,083 shares of the utilities provider’s stock worth $12,815,000 after acquiring an additional 1,106 shares during the last quarter. Raymond James & Associates lifted its stake in DTE Energy by 6.5% in the fourth quarter. Raymond James & Associates now owns 209,488 shares of the utilities provider’s stock worth $23,098,000 after purchasing an additional 12,871 shares during the last quarter. SG Americas Securities LLC lifted its stake in DTE Energy by 273.2% in the fourth quarter. SG Americas Securities LLC now owns 48,071 shares of the utilities provider’s stock worth $5,300,000 after purchasing an additional 35,189 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of DTE Energy by 25.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,737 shares of the utilities provider’s stock valued at $4,271,000 after buying an additional 7,975 shares during the period. Finally, Arvest Investments Inc. bought a new position in shares of DTE Energy during the fourth quarter valued at approximately $2,581,000. 76.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling at DTE Energy

In related news, COO Mark W. Stiers sold 10,000 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $116.00, for a total value of $1,160,000.00. Following the sale, the chief operating officer now owns 41,921 shares in the company, valued at $4,862,836. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Mark W. Stiers sold 10,000 shares of DTE Energy stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $116.00, for a total value of $1,160,000.00. Following the completion of the transaction, the chief operating officer now owns 41,921 shares in the company, valued at $4,862,836. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Tracy J. Myrick sold 600 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $107.04, for a total value of $64,224.00. Following the sale, the chief accounting officer now directly owns 3,462 shares in the company, valued at $370,572.48. The disclosure for this sale can be found here. Insiders sold 24,245 shares of company stock worth $2,702,701 in the last quarter. 0.61% of the stock is owned by corporate insiders.

DTE Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 17th will be paid a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date of this dividend is Monday, June 17th. DTE Energy’s payout ratio is presently 66.78%.

DTE Energy Company Profile

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.