Seaport Res Ptn Predicts DTE Energy FY2024 Earnings

DTE Energy (NYSE:DTE – Free Report) has had its fiscal year 2024 earnings per share (EPS) estimates updated by equities researchers at Seaport Res Ptn. In a research report published on Thursday, October 31st, analyst A. Storozynski predicted that DTE Energy would achieve earnings of $6.79 per share for the fiscal year. This forecast is above the consensus estimate of $6.73 per share for the current full year.

Additionally, Seaport Res Ptn has projected earnings for the next two years, estimating $7.20 EPS for FY2025 and $7.76 EPS for FY2026. These figures suggest a positive outlook for the utilities provider as it continues to grow.

Analyst Ratings and Price Target Updates

DTE Energy has attracted the attention of various research firms recently. For example, KeyCorp raised its price target from $136.00 to $138.00, assigning the stock an “overweight” rating on October 22nd. Similarly, Scotiabank adjusted their price target from $120.00 to $137.00, designating a “sector outperform” rating to the company in August.

On the other hand, StockNews.com downgraded DTE Energy from a “hold” rating to a “sell” rating on October 28th, indicating a more cautious approach. Also, BMO Capital Markets increased their price target from $135.00 to $140.00, rating the stock as a “market perform” in mid-October.

Overall, among the analysts covering DTE Energy, there is a mixed sentiment. One analyst has a sell rating, five have a hold rating, and nine analysts have given a buy rating, leading to a consensus rating categorized as “Moderate Buy.” The average target price among these analysts sits at $131.46.

DTE Energy Stock Performance

As of Monday, DTE Energy's stock opened at $121.29. The company maintains a market capitalization of approximately $25.12 billion. Financial ratios highlight that it has a P/E ratio of 16.43 and a PEG ratio of 2.25, while its debt-to-equity ratio stands at 1.76.

DTE Energy's stock has seen significant movement over the past year, reaching a low of $96.45 and a high of $131.66. As of the latest data, the 50-day simple moving average is $125.84, and the 200-day simple moving average is $118.67, suggesting some volatility in its recent performance.

Institutional Investor Activity

Recent activity among institutional investors indicates increased interest in DTE Energy. For instance, UniSuper Management Pty Ltd significantly boosted its stake by 407.3% in the first quarter, now holding 10,715 shares worth $1.202 million after acquiring 8,603 additional shares.

Other notable movements include Mitsubishi UFJ Trust & Banking Corp increasing its holdings by 9.9%, and the State Board of Administration of Florida Retirement System enhancing its position by 6.5%. Overall, institutional and hedge fund ownership accounts for 76.06% of DTE Energy’s stock, showcasing strong institutional backing.

DTE Energy Overview

DTE Energy is engaged in utility operations, with its Electric segment responsible for generating, purchasing, and distributing electricity to a range of customers in southeastern Michigan. They utilize a variety of methods for electricity generation, including coal, nuclear, wind, and solar.

Earnings, Stocks, Analysis