DTE Energy Co (NYSE:DTE) – Analysts at Seaport Global Securities raised their FY2022 earnings per share estimates for DTE Energy in a report released on Tuesday, July 28th. Seaport Global Securities analyst A. Storozynski now expects that the utilities provider will post earnings per share of $7.50 for the year, up from their previous estimate of $7.40. Seaport Global Securities has a “Buy” rating and a $121.00 price objective on the stock.
DTE Energy (NYSE:DTE) last released its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $1.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.31 by $0.22. DTE Energy had a return on equity of 10.50% and a net margin of 10.13%. The business had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.90 billion. During the same quarter in the previous year, the company posted $0.99 EPS.
A number of other analysts also recently issued reports on DTE. BMO Capital Markets began coverage on DTE Energy in a research note on Thursday, July 9th. They issued an “outperform” rating and a $116.00 price objective on the stock. Credit Suisse Group dropped their target price on DTE Energy from $140.00 to $120.00 and set a “neutral” rating for the company in a report on Thursday, April 23rd. Morgan Stanley lifted their target price on DTE Energy from $122.00 to $126.00 and gave the stock an “equal weight” rating in a report on Friday, July 17th. KeyCorp cut DTE Energy from an “overweight” rating to a “sector weight” rating in a report on Tuesday, July 21st. Finally, TheStreet upgraded DTE Energy from a “c+” rating to a “b-” rating in a report on Tuesday, June 9th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. DTE Energy presently has an average rating of “Buy” and an average price target of $125.54.
NYSE:DTE opened at $115.63 on Friday. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.83 and a quick ratio of 0.71. DTE Energy has a 1 year low of $71.21 and a 1 year high of $135.67. The stock’s 50 day simple moving average is $108.59 and its two-hundred day simple moving average is $111.00. The company has a market cap of $22.27 billion, a price-to-earnings ratio of 18.27, a PEG ratio of 3.04 and a beta of 0.59.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Monday, September 21st will be issued a dividend of $1.013 per share. This represents a $4.05 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date of this dividend is Friday, September 18th. DTE Energy’s payout ratio is currently 64.29%.
In related news, SVP Joann Chavez sold 400 shares of the business’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $101.93, for a total transaction of $40,772.00. Following the completion of the transaction, the senior vice president now owns 5,300 shares in the company, valued at approximately $540,229. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.57% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Louisiana State Employees Retirement System lifted its holdings in shares of DTE Energy by 1.2% in the 2nd quarter. Louisiana State Employees Retirement System now owns 8,300 shares of the utilities provider’s stock worth $892,000 after buying an additional 100 shares during the period. CWM LLC lifted its holdings in shares of DTE Energy by 7.9% in the 1st quarter. CWM LLC now owns 1,496 shares of the utilities provider’s stock worth $142,000 after buying an additional 109 shares during the period. First Citizens Bank & Trust Co. lifted its holdings in shares of DTE Energy by 1.0% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 11,093 shares of the utilities provider’s stock worth $1,193,000 after buying an additional 109 shares during the period. IBM Retirement Fund lifted its holdings in shares of DTE Energy by 1.9% in the 2nd quarter. IBM Retirement Fund now owns 6,053 shares of the utilities provider’s stock worth $651,000 after buying an additional 112 shares during the period. Finally, Johnson Investment Counsel Inc. lifted its holdings in shares of DTE Energy by 1.8% in the 1st quarter. Johnson Investment Counsel Inc. now owns 6,942 shares of the utilities provider’s stock worth $666,000 after buying an additional 124 shares during the period. Institutional investors own 72.69% of the company’s stock.
About DTE Energy
DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to approximately 2.2 million residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through fossil-fuel, hydroelectric pumped storage, and nuclear plants, as well as wind and other renewable assets.
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