DTE Energy Stock: Is Wall Street Bullish or Bearish?

Valued at a market cap of $29.1 billion, DTE Energy Company (DTE) is a diversified energy company that provides electricity and natural gas to millions of customers. the Michigan-based company is also engaged in non-utility businesses, including industrial energy services, renewable natural gas, and energy marketing and trading.

Shares of this utility company have outpaced the broader market over the past 52 weeks. DTE has surged 13.7% over this time frame, while the broader S&P 500 Index ($SPX) has gained 13.3%. Moreover, on a YTD basis, the stock is up 16.1%, compared to SPX’s 8.3% rise.

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Zooming in further, DTE has matched the Utilities Select Sector SPDR Fund’s (XLU) 13.7% uptick over the past 52 weeks and has surpassed the ETF’s 13.1% return on a YTD basis.www.barchart.com

On Jul. 29, DTE Energy posted second-quarter earnings, and its shares dipped 1.3% in the following trading session. It reported operating earnings $1.36 per share, down from $1.43 per share in the prior-year quarter. The company invested $1.8 billion in the first half of the year toward its planned $4.4 billion 2025 capital program, advancing key clean energy projects, including the 100 MW Cold Creek and 80 MW Pine River solar parks. Management highlighted continued improvements in grid reliability, with outage durations down 75% since 2023, and reaffirmed its full-year operating EPS guidance of $7.09 to $7.23, reflecting confidence in its long-term growth outlook.

For the current fiscal year, ending in December, analysts expect DTE’s EPS to grow 5.7% year over year to $7.22. The company’s earnings surprise history is mixed. It topped the consensus estimates in three of the last four quarters, while missing in the previous quarter.

Among the 18 analysts covering the stock, the consensus rating is a “Moderate Buy,” which is based on nine “Strong Buy,” one “Moderate Buy,” and eight “Hold” ratings.www.barchart.com

This configuration is bearish than two months ago when ten analysts had suggested a “Strong Buy” rating for the stock.

On July 15, Barclays raised its price target for DTE Energy from $136 to $138, a 1.5% increase, while maintaining an “Equal-Weight” rating.

Story Continues

DTE’s mean price target of $146.92 implies a premium of 4.8% from the current market prices, and the Street-high of $158 indicates that the stock could soar by 12.7%.

On the date of publication, Kritika Sarmah did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com

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