DTE Energy (NYSE:DTE – Get Free Report) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $6.54-6.83 for the period, compared to the consensus estimate of $6.71.
Analyst Ratings Changes
DTE has been the subject of a number of research analyst reports. StockNews.com raised shares of DTE Energy from a “sell” rating to a “hold” rating in a research report on Sunday, August 11th. LADENBURG THALM/SH SH began coverage on DTE Energy in a report on Wednesday, August 14th. They set a “buy” rating and a $131.00 price target on the stock. Scotiabank increased their price objective on shares of DTE Energy from $120.00 to $137.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. Jefferies Financial Group began coverage on DTE Energy in a report on Monday, October 21st. They issued a “hold” rating and a $137.00 target price on the stock. Finally, Morgan Stanley increased their price objective on shares of DTE Energy from $121.00 to $128.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, DTE Energy presently has a consensus rating of “Moderate Buy” and an average price target of $131.46.
Read Our Latest Stock Analysis on DTE
DTE Energy Stock Performance
DTE Energy (NYSE:DTE – Get Free Report) last released its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.22. The firm had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.65 billion. DTE Energy had a net margin of 11.18% and a return on equity of 12.18%. During the same quarter last year, the company earned $0.99 EPS. On average, analysts expect that DTE Energy will post 6.7 earnings per share for the current year.
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.
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