Brokerages Expect DTE Energy (NYSE:DTE) to Post $1.91 Earnings Per Share

Equities research analysts expect that DTE Energy (NYSE:DTEGet Rating) will announce earnings of $1.91 per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for DTE Energy’s earnings, with the lowest EPS estimate coming in at $1.67 and the highest estimate coming in at $2.21. DTE Energy posted earnings per share of $2.44 during the same quarter last year, which indicates a negative year over year growth rate of 21.7%. The firm is expected to issue its next quarterly earnings report before the market opens on Monday, January 1st.

According to Zacks, analysts expect that DTE Energy will report full year earnings of $5.94 per share for the current fiscal year, with EPS estimates ranging from $5.85 to $6.05. For the next fiscal year, analysts expect that the business will post earnings of $6.27 per share, with EPS estimates ranging from $6.18 to $6.45. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for DTE Energy.

DTE Energy (NYSE:DTEGet Rating) last issued its earnings results on Thursday, February 10th. The utilities provider reported $1.05 EPS for the quarter, beating the consensus estimate of $0.94 by $0.11. DTE Energy had a return on equity of 12.59% and a net margin of 5.90%. The business had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $3.18 billion. During the same period last year, the business posted $1.39 EPS.

A number of equities analysts recently commented on DTE shares. UBS Group cut DTE Energy from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $136.00 to $133.00 in a report on Friday, March 11th. JPMorgan Chase & Co. cut DTE Energy from an “overweight” rating to a “neutral” rating and set a $126.00 price target on the stock. in a report on Friday, January 7th. Edward Jones raised DTE Energy from a “hold” rating to a “buy” rating in a report on Thursday, January 13th. Morgan Stanley raised their price target on DTE Energy from $126.00 to $133.00 and gave the company an “overweight” rating in a report on Tuesday, March 22nd. Finally, Argus raised their price objective on DTE Energy from $130.00 to $132.00 in a research report on Thursday, March 10th. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $128.90.

In related news, SVP Joann Chavez sold 500 shares of the company’s stock in a transaction dated Wednesday, February 16th. The shares were sold at an average price of $116.58, for a total transaction of $58,290.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Joi M. Harris sold 1,650 shares of the stock in a transaction dated Wednesday, March 2nd. The shares were sold at an average price of $120.97, for a total transaction of $199,600.50. The disclosure for this sale can be found here. Insiders have sold 4,350 shares of company stock worth $537,461 over the last three months. Corporate insiders own 0.61% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. FMR LLC boosted its position in shares of DTE Energy by 6.4% during the 1st quarter. FMR LLC now owns 175,821 shares of the utilities provider’s stock worth $21,931,000 after purchasing an additional 10,517 shares during the period. Morgan Stanley boosted its position in DTE Energy by 35.3% in the 2nd quarter. Morgan Stanley now owns 775,541 shares of the utilities provider’s stock valued at $100,511,000 after buying an additional 202,327 shares during the period. Bank of America Corp DE boosted its position in DTE Energy by 29.9% in the 2nd quarter. Bank of America Corp DE now owns 1,090,786 shares of the utilities provider’s stock valued at $141,367,000 after buying an additional 251,113 shares during the period. WINTON GROUP Ltd boosted its position in DTE Energy by 68.9% in the 3rd quarter. WINTON GROUP Ltd now owns 16,710 shares of the utilities provider’s stock valued at $1,867,000 after buying an additional 6,814 shares during the period. Finally, Secure Asset Management LLC boosted its position in DTE Energy by 3.0% in the 3rd quarter. Secure Asset Management LLC now owns 7,008 shares of the utilities provider’s stock valued at $783,000 after buying an additional 202 shares during the period. 73.20% of the stock is owned by institutional investors and hedge funds.

NYSE DTE opened at $137.17 on Thursday. The business’s fifty day moving average price is $126.56 and its 200-day moving average price is $119.48. The stock has a market capitalization of $26.58 billion, a price-to-earnings ratio of 29.37, a PEG ratio of 3.85 and a beta of 0.66. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.52 and a quick ratio of 0.39. DTE Energy has a 1-year low of $107.38 and a 1-year high of $138.51.

The company also recently declared a quarterly dividend, which was paid on Friday, April 15th. Shareholders of record on Monday, March 21st were issued a $0.885 dividend. This represents a $3.54 annualized dividend and a yield of 2.58%. The ex-dividend date was Friday, March 18th. DTE Energy’s dividend payout ratio is currently 75.80%.

DTE Energy Company Profile (Get Rating)

DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to approximately 2.3 million residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through fossil-fuel, hydroelectric pumped storage, and nuclear plants, as well as wind and other renewable assets.

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