As was said already, if the Enterprise-E can return from the 21st century, as the events of 'Star Trek: First Contact' showed, then yes, the Federation has the power to travel in time in the 24th century. That said, and if I may be indulged (since the question has been answered), I took up this question because I want to expand on this a bit further. If the JJ Abrams-helmed reboot of Star Trek in 2009 is to be considered canon (and I believe it is), then Star Trek's usual time travel guidelines were changed by Abrams and the writers (Orci, et al.). I believe that in the official Star Trek TV shows and films prior to 2009, the timeline was always considered to be 'sacred'. Things were always returned to "what should happen". There was, in fact, a savage alternate universe, shown across a few TV series, but as Kirk said in 'Mirror, Mirror' - it co-existed with his native universe - but the origin was unclear. Perhaps it just always existed - as the actual theory of the 'mulitiverse' postulates. But Abrams and his writers took another part of the multiverse theory and expanded on it. That is, that a disturbance in the time line might "spin off" an alternate universe which would then also co-exist with the "prime" universe, as it's being called. That, I think, is a big departure from Star Trek's usual modus operandi when it comes to time travel. It opens up a can of worms, I think.