DTE Energy (NYSE:DTE) Issues Earnings Results

Key Points

• DTE Energy exceeded earnings expectations, reporting quarterly EPS of $1.32 versus the consensus estimate of $1.14. The company posted a 12.37% return on equity and a 7.65% net margin.
• DTE declared a quarterly dividend of $1.165 per share, equivalent to $4.66 annually and a 3.2% yield. The dividend payout ratio is 76.77%.
• Analysts maintain a generally positive outlook, with the stock receiving a “Moderate Buy” consensus rating and an average price target of $158.38, compared with shares opening at $146.98.

DTE Energy (NYSE:DTE - Get Free Report) posted its quarterly earnings data on Tuesday. The utilities provider reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.18, Zacks reports. DTE Energy had a return on equity of 12.37% and a net margin of 7.65%.

DTE Energy Stock Performance

Shares of DTE stock opened at $146.98 on Tuesday. The company has a current ratio of 0.95, a quick ratio of 0.69 and a debt-to-equity ratio of 2.04. The company has a market cap of $30.58 billion, a PE ratio of 24.21, a P/E/G ratio of 3.26 and a beta of 0.38. The company's fifty day simple moving average is $147.64 and its 200-day simple moving average is $144.49. DTE Energy has a 52 week low of $126.23 and a 52 week high of $155.74.

DTE Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Monday, September 21st will be paid a $1.165 dividend. This represents a $4.66 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Monday, September 21st. DTE Energy's dividend payout ratio (DPR) is currently 76.77%.

Analyst Ratings Changes

A number of brokerages recently weighed in on DTE. Weiss Ratings cut shares of DTE Energy from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday, June 12th. Mizuho set a $165.00 price objective on shares of DTE Energy in a research note on Friday, May 1st. Jefferies Financial Group set a $172.00 target price on shares of DTE Energy in a report on Thursday, July 9th. Morgan Stanley reiterated an "overweight" rating on shares of DTE Energy in a research note on Wednesday, July 22nd. Finally, Wells Fargo & Company restated an "overweight" rating and issued a $165.00 price target on shares of DTE Energy in a research report on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $158.38.

Insiders Place Their Bets

In related news, VP Lisa A. Muschong sold 1,000 shares of the company's stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $143.72, for a total transaction of $143,720.00. Following the completion of the sale, the vice president directly owned 6,233 shares of the company's stock, valued at approximately $895,806.76. This represents a 13.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.60% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of DTE. Empowered Funds LLC lifted its position in DTE Energy by 200.7% during the 1st quarter. Empowered Funds LLC now owns 9,909 shares of the utilities provider's stock worth $1,370,000 after acquiring an additional 6,614 shares in the last quarter. Woodline Partners LP raised its stake in shares of DTE Energy by 40.8% during the first quarter. Woodline Partners LP now owns 17,509 shares of the utilities provider's stock valued at $2,421,000 after purchasing an additional 5,072 shares during the period. Intech Investment Management LLC lifted its position in shares of DTE Energy by 6.5% during the first quarter. Intech Investment Management LLC now owns 12,687 shares of the utilities provider's stock worth $1,754,000 after purchasing an additional 773 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in shares of DTE Energy during the second quarter worth $203,000. Finally, Jump Financial LLC boosted its stake in shares of DTE Energy by 154.5% in the second quarter. Jump Financial LLC now owns 12,677 shares of the utilities provider's stock valued at $1,679,000 after purchasing an additional 7,696 shares during the period. Institutional investors and hedge funds own 76.06% of the company's stock.

DTE Energy Company Profile

DTE Energy is an integrated energy company headquartered in Detroit, Michigan, that combines regulated utility operations with non-utility energy businesses. Its regulated subsidiaries operate electric and natural gas utility services that deliver generation, transmission and distribution to residential, commercial and industrial customers. The company's utility segment focuses on maintaining and upgrading energy delivery infrastructure, ensuring reliable service and meeting regulatory requirements in its service territory.

Beyond its regulated utilities, DTE Energy operates non-utility businesses that develop, own and operate power generation and energy-related projects.

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