DTE Energy (NYSE:DTE) Expected to Announce Earnings of $1.14 Per Share

Brokerages expect DTE Energy (NYSE:DTEGet Rating) to report earnings per share of $1.14 for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for DTE Energy’s earnings, with the lowest EPS estimate coming in at $0.98 and the highest estimate coming in at $1.23. DTE Energy reported earnings per share of $1.70 during the same quarter last year, which indicates a negative year-over-year growth rate of 32.9%. The company is expected to issue its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that DTE Energy will report full year earnings of $5.98 per share for the current fiscal year, with EPS estimates ranging from $5.93 to $6.05. For the next financial year, analysts forecast that the business will post earnings of $6.30 per share, with EPS estimates ranging from $6.18 to $6.45. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that follow DTE Energy.

DTE Energy (NYSE:DTEGet Rating) last posted its quarterly earnings results on Thursday, April 28th. The utilities provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.23. DTE Energy had a net margin of 5.59% and a return on equity of 13.58%. During the same period in the previous year, the business posted $2.44 earnings per share.

Several analysts have recently weighed in on DTE shares. Bank of America raised shares of DTE Energy from an “underperform” rating to a “buy” rating and set a $127.00 price target for the company in a research note on Tuesday, February 15th. Credit Suisse Group assumed coverage on shares of DTE Energy in a research report on Monday, April 25th. They set a “neutral” rating and a $142.00 price objective for the company. Citigroup increased their target price on shares of DTE Energy from $134.00 to $146.00 in a report on Tuesday, May 3rd. Argus increased their target price on shares of DTE Energy from $130.00 to $132.00 in a report on Thursday, March 10th. Finally, Morgan Stanley increased their target price on shares of DTE Energy from $133.00 to $143.00 and gave the stock an “overweight” rating in a report on Wednesday, April 20th. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, DTE Energy has a consensus rating of “Buy” and a consensus price target of $131.64.

DTE Energy stock opened at $129.68 on Thursday. The firm has a 50 day simple moving average of $131.21 and a 200-day simple moving average of $121.59. DTE Energy has a 1-year low of $107.38 and a 1-year high of $140.23. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.64 and a quick ratio of 0.51. The stock has a market cap of $25.12 billion, a price-to-earnings ratio of 27.89, a price-to-earnings-growth ratio of 3.65 and a beta of 0.63.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Monday, June 20th will be issued a $0.885 dividend. The ex-dividend date is Thursday, June 16th. This represents a $3.54 dividend on an annualized basis and a dividend yield of 2.73%. DTE Energy’s payout ratio is 76.13%.

In related news, SVP Joann Chavez sold 500 shares of the stock in a transaction on Wednesday, February 16th. The shares were sold at an average price of $116.58, for a total value of $58,290.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Joi M. Harris sold 1,650 shares of the stock in a transaction on 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 sold a total of 4,350 shares of company stock worth $537,461 over the last 90 days. Company insiders own 0.61% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of DTE. Renaissance Technologies LLC grew its position in DTE Energy by 5,858.3% during the 3rd quarter. Renaissance Technologies LLC now owns 445,800 shares of the utilities provider’s stock worth $49,800,000 after purchasing an additional 438,318 shares during the last quarter. Premier Fund Managers Ltd grew its position in DTE Energy by 24.3% during the 3rd quarter. Premier Fund Managers Ltd now owns 11,200 shares of the utilities provider’s stock worth $1,267,000 after purchasing an additional 2,190 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in DTE Energy by 20.7% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 33,660 shares of the utilities provider’s stock worth $4,024,000 after purchasing an additional 5,772 shares during the last quarter. Evergreen Wealth Solutions LLC purchased a new position in DTE Energy during the 4th quarter worth $1,207,000. Finally, Dimensional Fund Advisors LP grew its position in DTE Energy by 1.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 589,841 shares of the utilities provider’s stock worth $65,898,000 after purchasing an additional 5,959 shares during the last quarter. 72.21% of the stock is currently owned by hedge funds and other institutional investors.

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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Earnings History and Estimates for DTE Energy (NYSE:DTE)

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