DTE Energy (DTE) to Release Quarterly Earnings on Thursday

DTE Energy (NYSE:DTE) will issue its quarterly earnings data before the market opens on Thursday, October 24th. Analysts expect the company to announce earnings of $1.80 per share for the quarter. DTE Energy has set its FY24 guidance at $6.54-6.83 EPS.Parties interested in registering for the company’s conference call can do so using this link.

DTE Energy (NYSE:DTE) last issued its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.21 by $0.22. DTE Energy had a net margin of 11.18% and a return on equity of 12.18%. The company had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.65 billion. During the same quarter last year, the company posted $0.99 EPS. 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 Performance

Shares of DTE stock opened at $128.18 on Wednesday. The company has a quick ratio of 0.52, a current ratio of 0.69 and a debt-to-equity ratio of 1.73. DTE Energy has a 52 week low of $92.58 and a 52 week high of $129.53. The stock has a market capitalization of $26.53 billion, a PE ratio of 20.98, a P/E/G ratio of 2.29 and a beta of 0.67. The firm has a 50 day moving average of $125.36 and a two-hundred day moving average of $117.58.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on DTE shares. Jefferies Financial Group started coverage on shares of DTE Energy in a report on Monday. They issued a “hold” rating and a $137.00 price objective on the stock. BMO Capital Markets raised their price objective on shares of DTE Energy from $135.00 to $140.00 and gave the company a “market perform” rating in a report on Friday, October 18th. Bank of America raised their price objective on shares of DTE Energy from $131.00 to $136.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Barclays raised their price objective on shares of DTE Energy from $128.00 to $137.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Finally, LADENBURG THALM/SH SH started coverage on shares of DTE Energy in a report on Wednesday, August 14th. They issued a “buy” rating and a $131.00 price objective on the stock. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, DTE Energy has an average rating of “Moderate Buy” and an average price target of $130.54.

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.