FY2024 Earnings Forecast for DTE Energy Issued By Scotiabank

DTE Energy (NYSE:DTE) – Investment analysts at Scotiabank boosted their FY2024 EPS estimates for shares of DTE Energy in a research report issued to clients and investors 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 prior 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.

Other analysts also recently issued research reports about the company. UBS Group upgraded DTE Energy from a “neutral” rating to a “buy” rating and boosted their price target for the company from $129.00 to $143.00 in a research note on Tuesday, December 3rd. StockNews.com upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a report on Tuesday, November 5th. Wells Fargo & Company lifted their price objective on shares of DTE Energy from $133.00 to $145.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Morgan Stanley cut their price objective on shares of DTE Energy from $131.00 to $128.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Finally, Barclays boosted their target price on shares of DTE Energy from $128.00 to $137.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, DTE Energy presently has a consensus rating of “Moderate Buy” and an average target price of $134.31.

DTE Energy Stock Performance

Shares of DTE Energy stock opened at $121.06 on Friday. The company has a 50 day moving average price of $121.41 and a 200 day moving average price of $121.48. The firm has a market capitalization of $25.07 billion, a P/E ratio of 16.40, a PEG ratio of 2.23 and a beta of 0.68. The company has a quick ratio of 0.62, a current ratio of 0.83 and a debt-to-equity ratio of 1.76. DTE Energy has a 52 week low of $102.17 and a 52 week high of $131.66.

Institutional Trading of DTE Energy

A number of institutional investors and hedge funds have recently modified their holdings of DTE. Legacy Investment Solutions LLC acquired a new stake in DTE Energy in the 3rd quarter worth about $30,000. Ashton Thomas Securities LLC purchased a new position in shares of DTE Energy in the third quarter valued at approximately $35,000. Prospera Private Wealth LLC purchased a new stake in shares of DTE Energy during the third quarter worth approximately $35,000. Versant Capital Management Inc increased its position in shares of DTE Energy by 890.0% during the fourth quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 267 shares in the last quarter. Finally, Coastline Trust Co acquired a new position in DTE Energy in the 3rd quarter valued at $39,000. Hedge funds and other institutional investors own 76.06% of the company’s stock.

DTE Energy Increases Dividend

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

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.