DTE Energy Company (DTE) Issues FY18 Earnings Guidance
DTE Energy Company (NYSE:DTE) issued an update on its FY18 earnings guidance on Friday morning. The company provided earnings per share guidance of $5.48- 5.88 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $5.71. DTE Energy also updated its FY17 guidance to $5.38-5.69 EPS.
DTE Energy Company (NYSE DTE) traded up $0.62 during trading on Friday, reaching $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 capitalization of $19.88 billion, a P/E ratio of 21.51 and a beta of 0.23.
DTE Energy (NYSE:DTE) last posted its earnings results on Wednesday, October 25th. The utilities provider reported $1.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.05). The company had revenue of $3.25 billion for 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 business’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.96 EPS. equities analysts expect that DTE Energy Company will post 5.54 earnings per share for the current fiscal year.
A number of research firms have recently issued reports on DTE. Bank of America Corporation began coverage on shares of DTE Energy in a research note on Tuesday, October 24th. They set an underperform rating and a $112.00 target price for the company. Jefferies Group LLC restated a buy rating and set a $121.00 target price on shares of DTE Energy in a research note on Tuesday, August 29th. KeyCorp restated a buy rating and set a $113.00 target price on shares of DTE Energy in a research note on Sunday, August 27th. BidaskClub upgraded shares of DTE Energy from a hold rating to a buy rating in a research note on Tuesday, August 22nd. Finally, Credit Suisse Group dropped their price objective on shares of DTE Energy from $113.00 to $112.00 and set a neutral rating for the company in a research note on Thursday, October 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $111.50.
In related news, insider Mark W. Stiers sold 3,632 shares of DTE Energy stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $110.03, for a total transaction of $399,628.96. Following the sale, the insider now directly owns 25,257 shares of the company’s stock, valued at approximately $2,779,027.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.53% of the company’s stock.
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About DTE Energy
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