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.

DTE stock traded up $0.28 during mid-day trading on Monday, reaching $104.34. 1,112,399 shares of the stock traded hands, compared to its average volume of 1,339,609. The company has a quick ratio of 0.82, a current ratio of 1.10 and a debt-to-equity ratio of 1.22. DTE Energy has a one year low of $97.66 and a one year high of $116.74. The stock has a market capitalization of $18,666.80, a price-to-earnings ratio of 18.67, a price-to-earnings-growth ratio of 2.99 and a beta of 0.15.

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

The business also recently declared a quarterly dividend, which will be paid on Sunday, April 15th. Stockholders of record on Monday, March 19th will be issued a $0.8825 dividend. This represents a $3.53 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date of this dividend is Friday, March 16th. DTE Energy’s payout ratio is presently 63.15%.

A number of research analysts have recently commented on the stock. Credit Suisse Group restated a neutral rating and issued a $107.00 price target (up from $106.00) on shares of DTE Energy in a report on Tuesday, February 20th. UBS assumed coverage on shares of DTE Energy in a report on Friday, February 2nd. They issued a neutral rating and a $108.00 price target on the stock. KeyCorp restated a buy rating and issued a $107.00 price target on shares of DTE Energy in a report on Thursday, March 15th. Zacks Investment Research cut shares of DTE Energy from a buy rating to a hold rating in a report on Friday, January 5th. Finally, Bank of America upped their price target on shares of DTE Energy from $101.00 to $104.00 and gave the stock an underperform rating in a report on Tuesday, February 20th. One analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. DTE Energy presently has an average rating of Hold and an average target price of $110.40.

In related news, insider David Ruud sold 7,680 shares of the company’s stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $100.54, for a total value of $772,147.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Lisa A. Muschong sold 1,341 shares of the company’s stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $100.97, for a total transaction of $135,400.77. Following the completion of the sale, the vice president now directly owns 2,676 shares of the company’s stock, valued at $270,195.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,521 shares of company stock worth $2,189,173. Company insiders own 0.59% of the company’s stock.

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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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