DTE Energy Company (NYSE:DTE) Expected to Announce Earnings of $1.64 Per Share
Wall Street analysts forecast that DTE Energy Company (NYSE:DTE) will announce $1.64 earnings per share for the current quarter, Zacks reports. Zero analysts have issued estimates for DTE Energy’s earnings. The highest EPS estimate is $1.73 and the lowest is $1.58. DTE Energy reported earnings of $1.96 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 16.3%. The firm is expected to announce its next quarterly earnings report on Wednesday, October 25th.
On average, analysts expect that DTE Energy will report full year earnings of $5.42 per share for the current fiscal year, with EPS estimates ranging from $5.35 to $5.45. For the next fiscal year, analysts anticipate that the company will report earnings of $5.68 per share, with EPS estimates ranging from $5.60 to $5.75. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow DTE Energy.
DTE Energy (NYSE:DTE) last announced its earnings results on Wednesday, July 26th. The utilities provider reported $1.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.08. DTE Energy had a return on equity of 10.67% and a net margin of 8.80%. The business had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same period last year, the company earned $0.98 EPS. DTE Energy’s revenue for the quarter was up 26.2% compared to the same quarter last year.
A number of research firms recently issued reports on DTE. BMO Capital Markets reissued a “hold” rating and issued a $111.00 price target on shares of DTE Energy in a research note on Friday, July 28th. Zacks Investment Research cut shares of DTE Energy from a “buy” rating to a “hold” rating in a report on Monday, July 31st. BidaskClub cut shares of DTE Energy from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Jefferies Group LLC reiterated a “buy” rating and set a $117.00 price target (up previously from $108.50) on shares of DTE Energy in a report on Thursday, April 27th. Finally, Deutsche Bank AG increased their price target on shares of DTE Energy from $100.00 to $103.00 and gave the company a “hold” rating in a report on Tuesday, April 11th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $108.00.
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In related news, VP Lisa A. Muschong sold 426 shares of the business’s stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $109.51, for a total transaction of $46,651.26. Following the completion of the transaction, the vice president now owns 2,543 shares in the company, valued at approximately $278,483.93. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Gerardo Norcia sold 4,838 shares of the business’s stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $110.73, for a total transaction of $535,711.74. Following the transaction, the chief operating officer now owns 115,930 shares of the company’s stock, valued at approximately $12,836,928.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,263 shares of company stock valued at $3,489,815. Company insiders own 0.53% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the company. Gradient Investments LLC increased its stake in DTE Energy by 0.3% in the second quarter. Gradient Investments LLC now owns 1,048 shares of the utilities provider’s stock valued at $111,000 after buying an additional 3 shares in the last quarter. Whittier Trust Co. increased its stake in DTE Energy by 1.1% in the first quarter. Whittier Trust Co. now owns 1,279 shares of the utilities provider’s stock valued at $131,000 after buying an additional 14 shares during the period. Tortoise Capital Advisors L.L.C. increased its stake in DTE Energy by 335.1% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 1,340 shares of the utilities provider’s stock valued at $142,000 after buying an additional 1,032 shares during the period. Van ECK Associates Corp increased its stake in DTE Energy by 18.0% in the first quarter. Van ECK Associates Corp now owns 1,551 shares of the utilities provider’s stock valued at $158,000 after buying an additional 237 shares during the period. Finally, Johnson Financial Group Inc. increased its stake in DTE Energy by 226.0% in the first quarter. Johnson Financial Group Inc. now owns 1,542 shares of the utilities provider’s stock valued at $158,000 after buying an additional 1,069 shares during the period. 67.89% of the stock is currently owned by institutional investors.
DTE Energy (DTE) opened at 108.94 on Monday. The stock has a 50 day moving average price of $107.28 and a 200 day moving average price of $103.79. DTE Energy has a 52-week low of $89.66 and a 52-week high of $111.35. The company has a market capitalization of $19.54 billion, a price-to-earnings ratio of 18.76 and a beta of 0.21.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 15th. Stockholders of record on Monday, September 18th will be issued a $0.825 dividend. The ex-dividend date is Friday, September 15th. This represents a $3.30 annualized dividend and a dividend yield of 3.03%. DTE Energy’s dividend payout ratio is currently 56.60%.
About DTE Energy
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