DTE Energy (DTE) Updates FY18 Earnings Guidance

DTE Energy (NYSE:DTE) issued an update on its FY18 earnings guidance on Tuesday 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 $5.68. DTE Energy also updated its FY17 guidance to $5.38-$5.69 EPS.

Shares of DTE Energy (NYSE DTE) traded up $0.50 during mid-day trading on Tuesday, hitting $115.99. The company had a trading volume of 677,100 shares, compared to its average volume of 878,500. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.08 and a quick ratio of 0.77. DTE Energy has a 1-year low of $95.23 and a 1-year high of $116.74. The company has a market cap of $20,600.00, a P/E ratio of 22.42, a price-to-earnings-growth ratio of 3.47 and a beta of 0.23.

DTE Energy (NYSE:DTE) last issued its quarterly earnings data on Wednesday, October 25th. The utilities provider reported $1.48 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.53 by ($0.05). DTE Energy had a net margin of 8.01% and a return on equity of 9.56%. The company had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $2.80 billion. During the same period in the previous year, the business posted $1.96 earnings per share. The firm’s revenue was up 10.8% on a year-over-year basis. sell-side analysts predict that DTE Energy will post 5.54 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Shareholders of record on Monday, December 18th will be issued a $0.8825 dividend. The ex-dividend date of this dividend is Friday, December 15th. This represents a $3.53 dividend on an annualized basis and a yield of 3.04%. This is a positive change from DTE Energy’s previous quarterly dividend of $0.83. DTE Energy’s dividend payout ratio (DPR) is 60.33%.

A number of analysts have issued reports on the company. Bank of America assumed coverage on DTE Energy in a report on Tuesday, October 24th. They issued an underperform rating and a $112.00 target price on the stock. BidaskClub raised DTE Energy from a hold rating to a buy rating in a report on Tuesday, August 22nd. KeyCorp reaffirmed a buy rating and issued a $113.00 target price on shares of DTE Energy in a report on Sunday, August 27th. Credit Suisse Group lowered their target price on DTE Energy from $113.00 to $112.00 and set a neutral rating on the stock in a report on Thursday, October 26th. Finally, Jefferies Group reaffirmed a buy rating and issued a $121.00 target price on shares of DTE Energy in a report on Tuesday, August 29th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. DTE Energy currently has an average rating of Hold and a consensus price target of $111.50.

In other news, Chairman Gerard M. Anderson sold 12,389 shares of DTE Energy stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $112.93, for a total transaction of $1,399,089.77. Following the sale, the chairman now owns 83,000 shares of the company’s stock, valued at approximately $9,373,190. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.53% of the stock is currently owned by company insiders.

WARNING: This article was originally posted by Transcript Daily and is the sole property of of Transcript Daily. If you are accessing this article on another publication, it was copied illegally and reposted in violation of US and international copyright & trademark laws. The correct version of this article can be viewed at https://transcriptdaily.com/2017/12/12/dte-energy-dte-updates-fy18-earnings-guidance.html.

DTE Energy Company Profile

Receive News & Ratings for DTE Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DTE Energy and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply