DTE Energy (NYSE:DTE) Posts Quarterly Earnings Results, Beats Estimates By $0.22 EPS
DTE Energy (NYSE:DTE) issued its earnings results on Tuesday. The utilities provider reported $1.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.22, MarketWatch Earnings reports. DTE Energy had a net margin of 10.13% and a return on equity of 10.50%. The firm had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $2.90 billion. During the same quarter last year, the company posted $0.99 earnings per share. DTE Energy updated its FY 2020
Pre-Market guidance to 6.47-6.75 EPS and its FY20 guidance to $6.47-6.75 EPS.
Shares of NYSE:DTE traded down $0.62 during trading hours on Friday, reaching $114.08. The stock had a trading volume of 383,330 shares, compared to its average volume of 1,139,448. DTE Energy has a 1 year low of $71.21 and a 1 year high of $135.67. The firm’s 50 day moving average is $108.55 and its 200-day moving average is $111.07. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.71 and a current ratio of 0.83. The stock has a market capitalization of $21.97 billion, a price-to-earnings ratio of 18.12, a P/E/G ratio of 3.13 and a beta of 0.59.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Monday, September 21st will be given a $1.013 dividend. This represents a $4.05 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date is Friday, September 18th. DTE Energy’s dividend payout ratio is presently 64.29%.
DTE has been the subject of several recent research reports. Seaport Global Securities initiated coverage on shares of DTE Energy in a report on Wednesday, May 20th. They set a “buy” rating and a $121.00 target price for the company. KeyCorp cut shares of DTE Energy from an “overweight” rating to a “sector weight” rating in a report on Tuesday, July 21st. Credit Suisse Group cut their price objective on shares of DTE Energy from $140.00 to $120.00 and set a “neutral” rating for the company in a report on Thursday, April 23rd. TheStreet raised shares of DTE Energy from a “c+” rating to a “b-” rating in a report on Tuesday, June 9th. Finally, BMO Capital Markets began coverage on shares of DTE Energy in a report on Thursday, July 9th. They issued an “outperform” rating and a $116.00 price objective for the company. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $125.54.
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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