TECO Energy, Inc. (TE) Updates FY14 Earnings Guidance
TECO Energy, Inc. (NYSE:TE) issued an update on its FY14 earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.95-1.05 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.02, StockRatingsNetwork.com reports.
A number of analysts have recently weighed in on TE shares. Analysts at CRT Capital raised their price target on shares of TECO Energy from $17.00 to $18.00 in a research note on Thursday, June 26th. They now have a fair value rating on the stock. On a related note, analysts at Zacks reiterated a neutral rating on shares of TECO Energy in a research note on Friday, June 6th. They now have a $18.00 price target on the stock. Finally, analysts at Ned Davis Research upgraded shares of TECO Energy from a neutral rating to a buy rating in a research note on Monday, May 12th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. TECO Energy currently has an average rating of Hold and a consensus target price of $17.80.
Shares of TECO Energy, Inc. (NYSE:TE) opened at 17.64 on Thursday. TECO Energy, Inc. has a one year low of $16.12 and a one year high of $18.53. The stock has a 50-day moving average of $17.91 and a 200-day moving average of $17.29. The company has a market cap of $3.842 billion and a P/E ratio of 18.45.
TECO Energy (NYSE:TE) last announced its earnings results on Thursday, July 31st. The company reported $0.28 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.27 by $0.01. The company had revenue of $726.30 million for the quarter, compared to the consensus estimate of $754.90 million. During the same quarter in the prior year, the company posted $0.24 earnings per share. The company’s quarterly revenue was down 1.3% on a year-over-year basis. Analysts expect that TECO Energy, Inc. will post $1.02 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, August 28th. Shareholders of record on Thursday, August 14th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 4.99%.
TECO Energy, Inc (NYSE:TE) is a holding company for regulated utilities and other businesses.
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