DTE Energy Co (DTE) Updates FY14 Earnings Guidance
DTE Energy Co (NYSE:DTE) issued an update on its FY14 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $4.20-4.40 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.41, AmericanBankingNews.com reports.
DTE Energy Co (NYSE:DTE) opened at 77.71 on Wednesday. DTE Energy Co has a one year low of $64.08 and a one year high of $79.45. The stock’s 50-day moving average is $76.06 and its 200-day moving average is $71.82. The company has a market cap of $13.756 billion and a P/E ratio of 18.13. DTE Energy also saw a significant growth in short interest during the month of June. As of June 13th, there was short interest totalling 6,081,020 shares, a growth of 70.8% from the May 30th total of 3,560,805 shares. Based on an average daily volume of 727,688 shares, the days-to-cover ratio is currently 8.4 days. Currently, 3.5% of the company’s shares are short sold.
DTE Energy (NYSE:DTE) last posted its quarterly earnings results on Friday, April 25th. The company reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.46. The company had revenue of $3.93 billion for the quarter, compared to the consensus estimate of $2.67 billion. During the same quarter in the previous year, the company posted $1.34 earnings per share. The company’s revenue for the quarter was up 56.2% on a year-over-year basis. Analysts expect that DTE Energy Co will post $4.42 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, October 15th. Investors of record on Monday, September 15th will be paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 3.55%. The ex-dividend date is Thursday, September 11th. This is an increase from DTE Energy’s previous quarterly dividend of $0.66.
A number of analysts have recently weighed in on DTE shares. Analysts at Ned Davis Research upgraded shares of DTE Energy from a neutral rating to a buy rating in a research note on Monday, May 12th. On a related note, analysts at BMO Capital Markets raised their price target on shares of DTE Energy from $73.00 to $79.00 in a research note on Monday, April 28th. Finally, analysts at ISI Group raised their price target on shares of DTE Energy from $72.00 to $78.00 in a research note on Monday, April 28th. They now have a neutral rating on the stock. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has an average rating of Buy and a consensus target price of $79.00.
DTE Energy Company (NYSE:DTE) , is a diversified energy company.
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