Scotiabank Estimates DTE Energy’s FY2024 Earnings (NYSE:DTE)

DTE Energy (NYSE:DTE) – Research analysts at Scotiabank boosted their FY2024 earnings per share estimates for shares of DTE Energy in a report released on Wednesday, January 8th. Scotiabank analyst A. Weisel now anticipates that the utilities provider will post earnings of $6.76 per share for the year, up from their previous forecast of $6.68. Scotiabank currently has a “Sector Outperform” rating and a $147.00 target price on the stock. The consensus estimate for DTE Energy’s current full-year earnings is $6.76 per share. Scotiabank also issued estimates for DTE Energy’s FY2026 earnings at $7.80 EPS.

Several other research analysts have also recently weighed in on DTE. StockNews.com raised shares of DTE Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, November 5th. UBS Group upgraded shares of DTE Energy from a “neutral” rating to a “buy” rating and boosted their target price for the company from $129.00 to $143.00 in a report on Tuesday, December 3rd. BMO Capital Markets raised their price target on shares of DTE Energy from $135.00 to $140.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Wells Fargo & Company upped their price objective on DTE Energy from $133.00 to $145.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Finally, Morgan Stanley cut their target price on DTE Energy from $131.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $134.31.

DTE Energy Stock Performance

NYSE DTE opened at $121.06 on Friday. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.62 and a current ratio of 0.83. The stock’s fifty day moving average is $121.41 and its two-hundred day moving average is $121.48. The firm has a market capitalization of $25.07 billion, a P/E ratio of 16.40, a price-to-earnings-growth ratio of 2.23 and a beta of 0.68. DTE Energy has a fifty-two week low of $102.17 and a fifty-two week high of $131.66.

Institutional Trading of DTE Energy

Large investors have recently modified their holdings of the stock. Private Advisor Group LLC grew its stake in DTE Energy by 2.5% during the 2nd quarter. Private Advisor Group LLC now owns 16,754 shares of the utilities provider’s stock worth $1,860,000 after purchasing an additional 412 shares in the last quarter. Savant Capital LLC increased its stake in shares of DTE Energy by 3.5% during the second quarter. Savant Capital LLC now owns 5,261 shares of the utilities provider’s stock worth $584,000 after buying an additional 176 shares during the period. Acadian Asset Management LLC acquired a new stake in DTE Energy in the second quarter valued at approximately $331,000. Wedbush Securities Inc. lifted its stake in DTE Energy by 7.8% in the second quarter. Wedbush Securities Inc. now owns 3,705 shares of the utilities provider’s stock worth $411,000 after acquiring an additional 268 shares during the last quarter. Finally, Choreo LLC grew its holdings in DTE Energy by 57.5% during the 2nd quarter. Choreo LLC now owns 8,213 shares of the utilities provider’s stock worth $897,000 after acquiring an additional 3,000 shares in the last quarter. Hedge funds and other institutional investors own 76.06% of the company’s stock.

DTE Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be given a $1.09 dividend. This represents a $4.36 annualized dividend and a yield of 3.60%. The ex-dividend date is Monday, December 16th. This is a boost from DTE Energy’s previous quarterly dividend of $1.02. DTE Energy’s dividend payout ratio (DPR) is currently 59.08%.

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.