Seaport Res Ptn Weighs in on DTE Energy’s FY2022 Earnings (NYSE:DTE)

DTE Energy (NYSE:DTEGet Rating) – Research analysts at Seaport Res Ptn cut their FY2022 EPS estimates for DTE Energy in a note issued to investors on Wednesday, November 23rd. Seaport Res Ptn analyst A. Storozynski now forecasts that the utilities provider will post earnings of $6.04 per share for the year, down from their prior forecast of $6.05. The consensus estimate for DTE Energy’s current full-year earnings is $6.02 per share. Seaport Res Ptn also issued estimates for DTE Energy’s FY2023 earnings at $6.32 EPS, FY2024 earnings at $6.85 EPS and FY2025 earnings at $7.40 EPS.

DTE Energy (NYSE:DTEGet Rating) last posted its quarterly earnings data on Thursday, October 27th. The utilities provider reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.02. DTE Energy had a net margin of 5.79% and a return on equity of 12.90%. During the same period last year, the firm earned $1.72 earnings per share.

Other equities research analysts also recently issued reports about the stock. Mizuho boosted their target price on shares of DTE Energy from $115.00 to $122.00 and gave the company a “buy” rating in a report on Monday. Credit Suisse Group boosted their price objective on shares of DTE Energy to $140.00 in a research note on Tuesday, August 9th. Wells Fargo & Company decreased their price objective on shares of DTE Energy from $147.00 to $128.00 and set an “overweight” rating for the company in a research note on Wednesday, October 19th. Citigroup decreased their price objective on shares of DTE Energy from $146.00 to $139.00 in a research note on Friday, October 28th. Finally, StockNews.com initiated coverage on shares of DTE Energy in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, DTE Energy has an average rating of “Moderate Buy” and an average target price of $129.00.

DTE Energy Price Performance

DTE Energy stock opened at $114.49 on Thursday. DTE Energy has a 1 year low of $100.64 and a 1 year high of $140.23. The firm has a 50 day moving average price of $114.37 and a 200 day moving average price of $123.85. The company has a market cap of $22.18 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 3.15 and a beta of 0.60. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.60 and a current ratio of 0.79.

Hedge Funds Weigh In On DTE Energy

Institutional investors have recently modified their holdings of the company. Lazard Asset Management LLC grew its position in DTE Energy by 70.7% in the 2nd quarter. Lazard Asset Management LLC now owns 210 shares of the utilities provider’s stock valued at $26,000 after buying an additional 87 shares in the last quarter. CI Investments Inc. lifted its position in shares of DTE Energy by 966.7% in the third quarter. CI Investments Inc. now owns 256 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 232 shares in the last quarter. Elequin Capital LP purchased a new stake in shares of DTE Energy in the first quarter worth approximately $35,000. Charter Oak Capital Management LLC bought a new position in DTE Energy during the second quarter valued at approximately $39,000. Finally, Western Pacific Wealth Management LP bought a new position in DTE Energy during the third quarter valued at approximately $42,000. Institutional investors own 73.80% of the company’s stock.

DTE Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, January 15th. Shareholders of record on Monday, December 19th will be issued a dividend of $0.952 per share. This represents a $3.81 dividend on an annualized basis and a dividend yield of 3.33%. This is a boost from DTE Energy’s previous quarterly dividend of $0.89. The ex-dividend date is Friday, December 16th. DTE Energy’s dividend payout ratio is 61.25%.

DTE Energy Company Profile

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DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to approximately 2.3 million residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through fossil-fuel, hydroelectric pumped storage, and nuclear plants, as well as wind and other renewable assets.

See Also

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

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