DTE Energy Company (DTE) Issues FY17 Earnings Guidance
DTE Energy Company (NYSE:DTE) issued an update on its FY17 earnings guidance on Friday morning. The company provided EPS guidance of $5.38-5.69 for the period, compared to the Thomson Reuters consensus EPS estimate of $5.52. DTE Energy also updated its FY18 guidance to $5.48- 5.88 EPS.
DTE Energy Company (NYSE:DTE) traded up $0.62 during midday trading on Friday, hitting $110.90. 1,324,799 shares of the company were exchanged, compared to its average volume of 1,117,418. The firm has a market cap of $19.88 billion, a price-to-earnings ratio of 21.51 and a beta of 0.23.
DTE Energy (NYSE:DTE) last posted its quarterly earnings results on Wednesday, October 25th. The utilities provider reported $1.48 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.53 by ($0.05). The business had revenue of $3.25 billion during the quarter, compared to analyst estimates of $2.80 billion. DTE Energy had a return on equity of 9.56% and a net margin of 8.01%. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.96 EPS. analysts predict that DTE Energy Company will post 5.54 EPS for the current fiscal year.
A number of equities analysts recently commented on DTE shares. KeyCorp reaffirmed a buy rating and issued a $113.00 price objective on shares of DTE Energy in a research note on Sunday, August 27th. Jefferies Group LLC reissued a buy rating and set a $121.00 target price on shares of DTE Energy in a research note on Tuesday, August 29th. BidaskClub raised shares of DTE Energy from a hold rating to a buy rating in a research note on Tuesday, August 22nd. BMO Capital Markets reissued a hold rating and set a $111.00 target price on shares of DTE Energy in a research note on Friday, July 28th. Finally, Zacks Investment Research lowered shares of DTE Energy from a buy rating to a hold rating in a research note on Monday, July 31st. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $111.50.
In related news, insider Mark W. Stiers sold 3,632 shares of DTE Energy stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $110.03, for a total value of $399,628.96. Following the transaction, the insider now owns 25,257 shares in the company, valued at approximately $2,779,027.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.53% of the company’s stock.
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About DTE Energy
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