DTE Energy (NYSE:DTE) – Equities research analysts at KeyCorp issued their FY2021 earnings per share (EPS) estimates for shares of DTE Energy in a report released on Wednesday, January 12th. KeyCorp analyst S. Karp expects that the utilities provider will post earnings of $5.90 per share for the year. KeyCorp also issued estimates for DTE Energy’s Q4 2021 earnings at $0.93 EPS, FY2022 earnings at $5.92 EPS, FY2023 earnings at $6.32 EPS, FY2024 earnings at $6.74 EPS and FY2025 earnings at $7.14 EPS.
A number of other brokerages have also recently issued reports on DTE. JPMorgan Chase & Co. cut shares of DTE Energy from an “overweight” rating to a “neutral” rating and set a $126.00 price objective for the company. in a report on Friday, January 7th. Edward Jones upgraded shares of DTE Energy from a “hold” rating to a “buy” rating in a report on Thursday. Morgan Stanley upgraded shares of DTE Energy from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $127.00 to $133.00 in a report on Thursday, January 6th. Wells Fargo & Company upgraded shares of DTE Energy from an “equal weight” rating to an “overweight” rating and reduced their target price for the stock from $124.00 to $123.00 in a report on Wednesday, December 1st. Finally, Mizuho dropped their price target on shares of DTE Energy from $126.00 to $124.00 and set a “buy” rating on the stock in a research report on Monday, November 22nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $128.30.
Shares of NYSE DTE opened at $119.38 on Monday. The company has a current ratio of 1.02, a quick ratio of 0.75 and a debt-to-equity ratio of 1.97. The company has a market cap of $23.13 billion, a PE ratio of 26.41, a P/E/G ratio of 3.36 and a beta of 0.68. The company has a 50-day moving average of $115.49 and a two-hundred day moving average of $116.07. DTE Energy has a 1-year low of $96.40 and a 1-year high of $122.14.
DTE Energy (NYSE:DTE) last issued its earnings results on Tuesday, October 26th. The utilities provider reported $1.72 earnings per share for the quarter, missing the consensus estimate of $1.83 by ($0.11). The business had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.35 billion. DTE Energy had a net margin of 6.25% and a return on equity of 12.12%. During the same quarter last year, the firm posted $2.61 earnings per share.
The company also recently declared a quarterly dividend, which was paid on Saturday, January 15th. Shareholders of record on Monday, December 20th were issued a dividend of $0.885 per share. This is a positive change from DTE Energy’s previous quarterly dividend of $0.83. The ex-dividend date was Friday, December 17th. This represents a $3.54 annualized dividend and a yield of 2.97%. DTE Energy’s dividend payout ratio (DPR) is presently 78.32%.
In other DTE Energy news, SVP Joann Chavez sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, December 2nd. The shares were sold at an average price of $110.78, for a total transaction of $55,390.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.60% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in DTE. BlackRock Inc. increased its stake in shares of DTE Energy by 6.6% in the 3rd quarter. BlackRock Inc. now owns 16,117,899 shares of the utilities provider’s stock valued at $1,800,530,000 after acquiring an additional 998,570 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in DTE Energy by 337.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,015,734 shares of the utilities provider’s stock valued at $113,468,000 after purchasing an additional 783,519 shares during the period. Invesco Ltd. grew its position in DTE Energy by 65.5% in the 2nd quarter. Invesco Ltd. now owns 1,425,718 shares of the utilities provider’s stock valued at $184,772,000 after purchasing an additional 564,374 shares during the period. Goldman Sachs Group Inc. grew its position in DTE Energy by 97.7% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,104,858 shares of the utilities provider’s stock valued at $143,190,000 after purchasing an additional 546,082 shares during the period. Finally, Renaissance Technologies LLC grew its position in DTE Energy by 5,858.3% in the 3rd quarter. Renaissance Technologies LLC now owns 445,800 shares of the utilities provider’s stock valued at $49,800,000 after purchasing an additional 438,318 shares during the period. Institutional investors own 72.22% 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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