DTE Energy (DTE) Updates FY18 Earnings Guidance

DTE Energy (NYSE:DTE) issued an update on its FY18 earnings guidance on Monday morning. The company provided earnings per share guidance of $5.57-5.99 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $5.79.

Shares of NYSE DTE traded up $0.88 during midday trading on Tuesday, reaching $104.49. 542,331 shares of the company’s stock were exchanged, compared to its average volume of 1,282,256. DTE Energy has a 52-week low of $97.66 and a 52-week high of $116.74. The firm has a market cap of $18,376.20, a price-to-earnings ratio of 18.63, a PEG ratio of 2.94 and a beta of 0.15. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.82 and a current ratio of 1.10.

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DTE Energy (NYSE:DTE) last announced its earnings results on Friday, February 16th. The utilities provider reported $1.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.07. DTE Energy had a return on equity of 10.81% and a net margin of 8.99%. The business had revenue of $3.27 billion for the quarter, compared to analyst estimates of $2.17 billion. During the same period in the previous year, the company earned $0.81 earnings per share. research analysts predict that DTE Energy will post 5.81 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Sunday, April 15th. Stockholders of record on Monday, March 19th were given a dividend of $0.8825 per share. This represents a $3.53 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date was Friday, March 16th. DTE Energy’s payout ratio is 63.15%.

A number of analysts have recently issued reports on DTE shares. Bank of America lifted their target price on DTE Energy from $101.00 to $104.00 and gave the stock an underperform rating in a research report on Tuesday, February 20th. KeyCorp reaffirmed a buy rating and set a $107.00 target price on shares of DTE Energy in a research report on Thursday, March 15th. Wells Fargo raised DTE Energy from a market perform rating to an outperform rating in a research report on Friday, January 12th. Credit Suisse Group reiterated a neutral rating and issued a $107.00 price target (up from $106.00) on shares of DTE Energy in a research note on Tuesday, February 20th. Finally, Citigroup began coverage on DTE Energy in a research note on Friday. They issued a neutral rating and a $103.00 price target for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $110.40.

In other DTE Energy news, CEO Gerard M. Anderson sold 12,500 shares of DTE Energy stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $102.53, for a total value of $1,281,625.00. Following the completion of the transaction, the chief executive officer now directly owns 87,358 shares in the company, valued at $8,956,815.74. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider David Ruud sold 7,680 shares of DTE Energy stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $100.54, for a total value of $772,147.20. The disclosure for this sale can be found here. Insiders sold 21,521 shares of company stock valued at $2,189,173 over the last quarter. Insiders own 0.59% of the company’s stock.

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DTE Energy Company Profile

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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