DTE Energy Co (DTE) Expected to Post Earnings of $0.94 Per Share
Equities research analysts expect that DTE Energy Co (NYSE:DTE) will post earnings of $0.94 per share for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for DTE Energy’s earnings, with the highest EPS estimate coming in at $0.95 and the lowest estimate coming in at $0.92. DTE Energy reported earnings per share of $0.98 in the same quarter last year, which would suggest a negative year over year growth rate of 4.1%. The business is scheduled to issue its next quarterly earnings results on Tuesday, July 25th.
According to Zacks, analysts expect that DTE Energy will report full-year earnings of $5.34 per share for the current fiscal year, with EPS estimates ranging from $5.30 to $5.35. For the next year, analysts anticipate that the business will post earnings of $5.68 per share, with EPS estimates ranging from $5.60 to $5.75. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover DTE Energy.
DTE Energy (NYSE:DTE) last announced its quarterly earnings data on Wednesday, April 26th. The utilities provider reported $1.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.57 by $0.22. The firm had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $2.93 billion. DTE Energy had a net margin of 8.17% and a return on equity of 10.44%. The company’s revenue was up 26.1% on a year-over-year basis. During the same period last year, the firm earned $1.52 EPS.
DTE has been the subject of a number of analyst reports. Jefferies Group LLC lifted their price objective on DTE Energy to $108.50 in a research note on Friday, February 10th. Zacks Investment Research upgraded DTE Energy from a “hold” rating to a “buy” rating and set a $116.00 price target for the company in a research note on Tuesday, April 11th. Deutsche Bank AG lifted their price target on shares of DTE Energy from $100.00 to $103.00 and gave the stock a “hold” rating in a report on Tuesday, April 11th. Finally, Barclays PLC reissued an “overweight” rating and set a $115.00 target price (up previously from $106.00) on shares of DTE Energy in a report on Sunday, April 23rd. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $108.00.
In other DTE Energy news, Chairman Gerard M. Anderson sold 17,000 shares of the firm’s stock in a transaction that occurred on Friday, April 28th. The shares were sold at an average price of $104.77, for a total transaction of $1,781,090.00. Following the sale, the chairman now owns 80,000 shares of the company’s stock, valued at $8,381,600. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Trevor F. Lauer sold 3,800 shares of the firm’s stock in a transaction that occurred on Tuesday, May 2nd. The stock was sold at an average price of $104.21, for a total transaction of $395,998.00. Following the sale, the insider now directly owns 10,117 shares in the company, valued at approximately $1,054,292.57. The disclosure for this sale can be found here. Insiders have sold a total of 22,571 shares of company stock valued at $2,356,172 over the last 90 days. Company insiders own 0.93% of the company’s stock.
A number of institutional investors have recently bought and sold shares of DTE. Vanguard Group Inc. increased its position in DTE Energy by 1.2% in the first quarter. Vanguard Group Inc. now owns 18,612,462 shares of the utilities provider’s stock worth $1,900,519,000 after buying an additional 220,454 shares in the last quarter. BlackRock Inc. raised its stake in shares of DTE Energy by 2,370.1% in the first quarter. BlackRock Inc. now owns 14,475,164 shares of the utilities provider’s stock valued at $1,478,058,000 after buying an additional 13,889,160 shares in the last quarter. State Street Corp raised its stake in shares of DTE Energy by 1.4% in the first quarter. State Street Corp now owns 9,375,298 shares of the utilities provider’s stock valued at $957,313,000 after buying an additional 129,352 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of DTE Energy by 16.4% in the first quarter. AQR Capital Management LLC now owns 3,276,539 shares of the utilities provider’s stock valued at $334,567,000 after buying an additional 461,310 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of DTE Energy by 6.3% in the first quarter. Victory Capital Management Inc. now owns 1,911,309 shares of the utilities provider’s stock valued at $195,164,000 after buying an additional 113,658 shares in the last quarter. Hedge funds and other institutional investors own 66.85% of the company’s stock.
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Shares of DTE Energy (NYSE:DTE) traded down 0.14% during mid-day trading on Friday, reaching $108.83. 151,649 shares of the company were exchanged. The stock has a market capitalization of $19.52 billion, a P/E ratio of 19.15 and a beta of 0.20. DTE Energy has a 12 month low of $89.44 and a 12 month high of $109.18. The stock has a 50 day moving average price of $104.72 and a 200-day moving average price of $99.79.
The company also recently declared a quarterly dividend, which will be paid on Saturday, July 15th. Stockholders of record on Monday, June 19th will be given a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a dividend yield of 3.03%. DTE Energy’s dividend payout ratio (DPR) is currently 68.46%.
DTE Energy Company Profile
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