Zacks: Brokerages Anticipate DTE Energy Co (DTE) to Announce $1.68 Earnings Per Share

Wall Street brokerages expect DTE Energy Co (NYSE:DTE) to announce earnings per share (EPS) of $1.68 for the current quarter, Zacks reports. Zero analysts have provided estimates for DTE Energy’s earnings, with the lowest EPS estimate coming in at $1.60 and the highest estimate coming in at $1.76. DTE Energy posted earnings of $1.48 per share during the same quarter last year, which would indicate a positive year over year growth rate of 13.5%. The firm is expected to announce its next quarterly earnings results on Wednesday, October 24th.

On average, analysts expect that DTE Energy will report full year earnings of $6.16 per share for the current financial year, with EPS estimates ranging from $6.10 to $6.20. For the next year, analysts forecast that the company will post earnings of $6.38 per share, with EPS estimates ranging from $6.15 to $6.75. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that follow DTE Energy.

DTE Energy (NYSE:DTE) last posted its quarterly earnings data on Wednesday, July 25th. The utilities provider reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.23. The firm had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $2.57 billion. DTE Energy had a return on equity of 10.63% and a net margin of 8.58%. During the same quarter last year, the business posted $1.07 EPS.

Several analysts have commented on DTE shares. KeyCorp lifted their price target on DTE Energy from $107.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, April 18th. Zacks Investment Research cut DTE Energy from a “hold” rating to a “sell” rating in a report on Monday, April 23rd. ValuEngine cut DTE Energy from a “hold” rating to a “sell” rating in a report on Tuesday, June 5th. Wells Fargo & Co cut DTE Energy from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $109.27 to $103.00 in a report on Monday, June 11th. Finally, Guggenheim restated a “buy” rating and issued a $114.00 price target on shares of DTE Energy in a report on Monday, July 23rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $111.82.

DTE traded down $0.38 during midday trading on Friday, hitting $110.34. The company’s stock had a trading volume of 719,889 shares, compared to its average volume of 1,207,579. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.16 and a quick ratio of 0.89. The stock has a market capitalization of $20.13 billion, a price-to-earnings ratio of 19.74, a price-to-earnings-growth ratio of 3.37 and a beta of 0.15. DTE Energy has a 52-week low of $94.25 and a 52-week high of $116.74.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Monday, September 17th will be issued a $0.8825 dividend. This represents a $3.53 annualized dividend and a yield of 3.20%. The ex-dividend date is Friday, September 14th. DTE Energy’s dividend payout ratio (DPR) is 63.15%.

In other news, insider Trevor F. Lauer sold 3,800 shares of the business’s stock in a transaction dated Friday, August 3rd. The stock was sold at an average price of $110.02, for a total transaction of $418,076.00. Following the completion of the sale, the insider now owns 11,989 shares in the company, valued at approximately $1,319,029.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Peter B. Oleksiak sold 1,000 shares of the business’s stock in a transaction dated Tuesday, June 5th. The stock was sold at an average price of $99.89, for a total value of $99,890.00. Following the sale, the insider now owns 29,555 shares of the company’s stock, valued at approximately $2,952,248.95. The disclosure for this sale can be found here. Insiders have sold a total of 16,226 shares of company stock valued at $1,773,947 in the last quarter. Company insiders own 0.59% of the company’s stock.

Large investors have recently modified their holdings of the company. McKinley Carter Wealth Services Inc. purchased a new stake in shares of DTE Energy during the 1st quarter worth about $179,000. HL Financial Services LLC acquired a new position in DTE Energy during the 1st quarter worth approximately $208,000. Piedmont Investment Advisors LLC acquired a new position in DTE Energy during the 2nd quarter worth approximately $220,000. Greenleaf Trust acquired a new position in DTE Energy during the 2nd quarter worth approximately $220,000. Finally, Campbell & CO Investment Adviser LLC acquired a new position in DTE Energy during the 1st quarter worth approximately $230,000. Institutional investors and hedge funds own 69.99% of the company’s stock.

About DTE Energy

DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to approximately 2.2 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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