Detroit, Michigan-based DTE Energy Company (DTE) engages in regulated and unregulated energy businesses. With a market cap of $26.1 billion, DTE Energy generates electricity through coal-fired plants, hydroelectric pumped storage, nuclear plants, and wind and solar assets.
Companies worth $10 billion or more are generally described as "large-cap stocks," DTE Energy fits right into that category, with its market cap exceeding this threshold, reflecting its substantial size and influence in the regulated electric industry. It sells electricity to customers in various Ohio, Michigan, and Kentucky counties.
DTE Energy touched its 52-week high of $127.59 on Sep. 4 and is now trading 1.3% below that peak. DTE Energy gained 11.9% over the past three months, slightly lagging behind the Utilities Select Sector SPDR Fund’s (XLU) 12% gains during the same time frame.
Over the longer term, DTE stock has trailed behind XLU. DTE gained 18.8% over the past 52 weeks and 14.2% in 2024, underperforming XLU’s 22.2% gains over the past year and 24% returns on a YTD basis.
To confirm the bullish trend, DTE has consistently traded above its 200-day moving average since mid-April and above its 50-day moving average since late February with slight fluctuations.
Shares of DTE experienced marginal gains after the release of its robust Q2 earnings release on Jul. 25. The utility giant reported a solid 7.1% year-over-year growth in operating revenues, totaling $2.9 billion. The company also showcased impressive operational efficiency and cost management, curtailing its operating and non-operating expenses, thereby enhancing profit margins.
Its operating income surged by 26.5% year-over-year to $502 million, while net income soared by a staggering 60.2%, reaching $322 million. Additionally, DTE’s adjusted EPS of $1.43 exceeded analysts’ expectations by 19.2%.
DTE Energy’s competitor Dominion Energy, Inc. (D), has outperformed DTE. D gained 21.8% over the past year and 23.7% in 2024.
Among the 16 analysts covering the DTE stock, the consensus rating is a “Moderate Buy.” The mean price target of $128.38 represents a potential upside of 1.9% from current price levels.
On the date of publication, Aditya Sarawgi 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. For more information please view the Barchart Disclosure Policy here.
