Seaport Res Ptn Forecasts DTE Energy FY2024 Earnings

DTE Energy (NYSE:DTE) – Equities researchers at Seaport Res Ptn issued their FY2024 earnings estimates for DTE Energy in a report released on Thursday, October 31st. Seaport Res Ptn analyst A. Storozynski expects that the utilities provider will earn $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 research firms have also recently issued reports on DTE. Jefferies Financial Group initiated coverage on DTE Energy in a research note on Monday, October 21st. They issued a “hold” rating and a $137.00 target price on the stock. LADENBURG THALM/SH SH began coverage on DTE Energy in a research note on Wednesday, August 14th. They issued a “buy” rating and a $131.00 price target for the company. Bank of America raised their target price on shares of DTE Energy from $131.00 to $136.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Mizuho upped their target price on shares of DTE Energy from $121.00 to $133.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Finally, Scotiabank raised their price objective on DTE Energy from $120.00 to $137.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $131.46.

DTE Energy Trading Up 0.3 %

NYSE DTE opened at $121.63 on Monday. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 1.76. DTE Energy has a 1-year low of $97.31 and a 1-year high of $131.66. The firm has a market cap of $25.19 billion, a PE ratio of 16.48, a price-to-earnings-growth ratio of 2.25 and a beta of 0.68. The stock has a 50-day moving average of $125.78 and a 200-day moving average of $118.77.

Institutional Trading of DTE Energy

Several hedge funds have recently modified their holdings of the company. ESL Trust Services LLC purchased a new position in shares of DTE Energy during the first quarter valued at approximately $27,000. Ridgewood Investments LLC purchased a new position in DTE Energy in the second quarter worth $31,000. Ashton Thomas Securities LLC purchased a new stake in shares of DTE Energy during the third quarter worth about $35,000. Salomon & Ludwin LLC lifted its stake in shares of DTE Energy by 82.3% during the first quarter. Salomon & Ludwin LLC now owns 432 shares of the utilities provider’s stock worth $48,000 after buying an additional 195 shares during the period. Finally, Fairscale Capital LLC purchased a new stake in DTE Energy during the 2nd quarter valued at about $54,000. 76.06% of the stock is owned by hedge funds and other 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.