Seaport Res Ptn Comments on DTE Energy FY2024 Earnings

DTE Energy (NYSE:DTE) – Equities researchers at Seaport Res Ptn issued their FY2024 EPS estimates for DTE Energy in a report issued on Thursday, October 31st. Seaport Res Ptn analyst A. Storozynski expects that the utilities provider will post earnings of $6.79 per share for the year. The consensus estimate for DTE Energy’s current full-year earnings is $6.73 per share. Seaport Res Ptn also issued estimates for DTE Energy’s FY2025 earnings at $7.20 EPS and FY2026 earnings at $7.76 EPS.

Several other equities analysts have also recently issued reports on the company. StockNews.com raised DTE Energy from a “sell” rating to a “hold” rating in a research note on Tuesday. Scotiabank upped their price objective on shares of DTE Energy from $120.00 to $137.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. BMO Capital Markets raised their target price on shares of DTE Energy from $135.00 to $140.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. KeyCorp boosted their price target on shares of DTE Energy from $136.00 to $138.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Finally, Jefferies Financial Group began coverage on shares of DTE Energy in a report on Monday, October 21st. They issued a “hold” rating and a $137.00 price objective for the company. Six research analysts have rated the stock with a hold rating and nine have issued 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 target price of $131.46.

DTE Energy Stock Up 1.5 %

Shares of NYSE:DTE opened at $123.43 on Monday. DTE Energy has a 1 year low of $97.31 and a 1 year high of $131.66. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.83 and a quick ratio of 0.62. The stock’s 50-day moving average is $125.77 and its 200 day moving average is $118.88. The company has a market cap of $25.56 billion, a PE ratio of 16.72, a P/E/G ratio of 2.20 and a beta of 0.68.

Hedge Funds Weigh In On DTE Energy

Several large investors have recently modified their holdings of DTE. Retirement Systems of Alabama raised its holdings in DTE Energy by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 45,568 shares of the utilities provider’s stock worth $5,110,000 after acquiring an additional 127 shares during the last quarter. Private Advisor Group LLC raised its stake in shares of DTE Energy by 42.3% in the first quarter. Private Advisor Group LLC now owns 16,342 shares of the utilities provider’s stock worth $1,833,000 after purchasing an additional 4,856 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of DTE Energy by 2.8% during the first quarter. BNP Paribas Financial Markets now owns 169,340 shares of the utilities provider’s stock valued at $18,990,000 after purchasing an additional 4,591 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in DTE Energy by 446.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 41,335 shares of the utilities provider’s stock valued at $4,635,000 after acquiring an additional 33,772 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of DTE Energy by 16.2% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,355 shares of the utilities provider’s stock valued at $601,000 after acquiring an additional 747 shares during the last quarter. Hedge funds and other institutional investors own 76.06% 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 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.