Q2 2024 Earnings Forecast for DTE Energy Issued By Zacks Research (NYSE:DTE)

DTE Energy (NYSE:DTE - Free Report) - Analysts at Zacks Research increased their Q2 2024 earnings per share estimates for DTE Energy in a note issued to investors on Thursday, May 16th. Zacks Research analyst R. Department now anticipates that the utilities provider will post earnings of $1.17 per share for the quarter, up from their previous estimate of $1.05. The consensus estimate for DTE Energy's current full-year earnings is $6.69 per share. Zacks Research also issued estimates for DTE Energy's Q3 2024 earnings at $1.84 EPS, Q4 2024 earnings at $2.00 EPS, FY2024 earnings at $6.69 EPS, Q1 2025 earnings at $1.92 EPS and FY2026 earnings at $7.71 EPS.

DTE Energy (NYSE:DTE - Get Free Report) last released its earnings results on Thursday, April 25th. The utilities provider reported $1.67 earnings per share for the quarter, missing analysts' consensus estimates of $1.71 by ($0.04). The company had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.81 billion. DTE Energy had a net margin of 10.36% and a return on equity of 11.53%.

A number of other analysts also recently weighed in on the stock. Barclays upped their price target on shares of DTE Energy from $115.00 to $119.00 and gave the stock an "overweight" rating in a report on Tuesday, April 30th. Scotiabank decreased their price target on DTE Energy from $129.00 to $120.00 and set a "sector outperform" rating on the stock in a research note on Monday, April 22nd. TheStreet raised DTE Energy from a "c+" rating to a "b-" rating in a report on Friday, March 15th. Guggenheim lowered DTE Energy from a "buy" rating to a "neutral" rating and set a $111.00 price objective on the stock. in a research note on Monday, January 22nd. Finally, BMO Capital Markets boosted their target price on DTE Energy from $111.00 to $113.00 and gave the stock a "market perform" rating in a research note on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, DTE Energy currently has an average rating of "Moderate Buy" and a consensus target price of $115.50.

DTE Energy Price Performance

DTE traded down $0.18 on Friday, hitting $116.60. 770,700 shares of the stock were exchanged, compared to its average volume of 1,155,236. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.75 and a quick ratio of 0.54. DTE Energy has a 12 month low of $90.14 and a 12 month high of $117.17. The firm has a market capitalization of $24.13 billion, a price-to-earnings ratio of 19.05, a PEG ratio of 2.89 and a beta of 0.64. The business has a 50-day moving average of $110.55 and a two-hundred day moving average of $107.74.

DTE Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 17th will be given a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 3.50%. The ex-dividend date of this dividend is Monday, June 17th. DTE Energy's dividend payout ratio (DPR) is currently 66.78%.

Insider Activity

In other DTE Energy news, COO Mark W. Stiers sold 10,000 shares of DTE Energy stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $116.00, for a total transaction of $1,160,000.00. Following the transaction, the chief operating officer now directly owns 41,921 shares of the company's stock, valued at approximately $4,862,836. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other DTE Energy news, SVP Joann Chavez sold 6,070 shares of the company's stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $109.19, for a total transaction of $662,783.30. Following the sale, the senior vice president now owns 16,667 shares of the company's stock, valued at $1,819,869.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Mark W. Stiers sold 10,000 shares of DTE Energy stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $116.00, for a total value of $1,160,000.00. Following the completion of the transaction, the chief operating officer now directly owns 41,921 shares of the company's stock, valued at $4,862,836. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,245 shares of company stock valued at $2,702,701. Insiders own 0.61% of the company's stock.

Institutional Investors Weigh In On DTE Energy

Hedge funds have recently added to or reduced their stakes in the business. Western Pacific Wealth Management LP grew its position in shares of DTE Energy by 16.6% during the 1st quarter. Western Pacific Wealth Management LP now owns 1,116 shares of the utilities provider's stock worth $125,000 after buying an additional 159 shares during the period. iA Global Asset Management Inc. bought a new position in DTE Energy during the first quarter worth $869,000. Comerica Bank grew its holdings in DTE Energy by 6.2% in the first quarter. Comerica Bank now owns 68,388 shares of the utilities provider's stock worth $7,669,000 after purchasing an additional 3,963 shares during the period. Coppell Advisory Solutions Corp. bought a new stake in DTE Energy in the first quarter valued at $233,000. Finally, Tidal Investments LLC raised its holdings in shares of DTE Energy by 9.2% during the first quarter. Tidal Investments LLC now owns 4,807 shares of the utilities provider's stock valued at $539,000 after purchasing an additional 405 shares during the period. 76.06% of the stock is currently owned by institutional investors.

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.