DTE Energy (NYSE:DTE) Issues FY 2021 Earnings Guidance

DTE Energy (NYSE:DTE) updated its FY 2021 earnings guidance on Friday. The company provided EPS guidance of $5.620-$5.920 for the period, compared to the Thomson Reuters consensus EPS estimate of $5.950. The company issued revenue guidance of -.

A number of analysts recently weighed in on the company. Morgan Stanley increased their price objective on DTE Energy from $123.00 to $128.00 and gave the company an equal weight rating in a report on Thursday, August 19th. The Goldman Sachs Group upgraded DTE Energy from a buy rating to a conviction-buy rating in a report on Tuesday, July 13th. Wells Fargo & Company downgraded DTE Energy from an overweight rating to an equal weight rating and set a $128.00 price objective for the company. in a report on Wednesday, September 1st. They noted that the move was a valuation call. Barclays assumed coverage on DTE Energy in a report on Wednesday, July 14th. They issued a hold rating and a $125.00 price objective for the company. Finally, Evercore ISI upgraded DTE Energy from an in-line rating to an outperform rating and set a $127.00 price objective for the company in a report on Friday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $129.23.

NYSE DTE traded down $3.56 during trading hours on Friday, hitting $114.00. The company’s stock had a trading volume of 3,477,072 shares, compared to its average volume of 1,127,515. DTE Energy has a 52 week low of $91.38 and a 52 week high of $122.14. The company has a market capitalization of $22.09 billion, a PE ratio of 16.64, a price-to-earnings-growth ratio of 3.34 and a beta of 0.63. The company has a current ratio of 1.71, a quick ratio of 1.51 and a debt-to-equity ratio of 1.75. The company’s 50-day simple moving average is $118.65 and its two-hundred day simple moving average is $128.24.

DTE Energy (NYSE:DTE) last announced its quarterly earnings results on Monday, July 26th. The utilities provider reported $1.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.44 by $0.26. DTE Energy had a net margin of 9.77% and a return on equity of 12.53%. The business had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $2.74 billion. During the same quarter last year, the firm earned $1.53 EPS. Research analysts anticipate that DTE Energy will post 5.93 EPS for the current fiscal year.

The company also recently disclosed a dividend, which was paid on Thursday, July 1st. Shareholders of record on Friday, July 2nd were paid a $0.825 dividend. The ex-dividend date was Thursday, July 1st. This represents a yield of 2.52%. DTE Energy’s dividend payout ratio (DPR) is 60.36%.

In other news, COO Trevor F. Lauer sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 11th. The shares were sold at an average price of $120.41, for a total transaction of $1,806,150.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Gerard M. Anderson sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 11th. The stock was sold at an average price of $120.53, for a total transaction of $1,205,300.00. Following the sale, the chairman now owns 18,628 shares of the company’s stock, valued at approximately $2,245,232.84. The disclosure for this sale can be found here. Company insiders own 0.60% of the company’s stock.

About DTE Energy

DTE Energy Co operates as a diversified energy company, which engages in the provision of electricity and natural gas sales, distribution and storage services. It operates through the following segments: Electric, Gas, Non-Utility Operations, and Corporate & Other. The Electric segment engages in the generation, purchase, distribution and sale of electricity to residential, commercial and industrial customers in south-eastern Michigan.

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Earnings History and Estimates for DTE Energy (NYSE:DTE)

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