DTE Energy (DTE) Releases FY 2019 Earnings Guidance

DTE Energy (NYSE:DTE) issued an update on its FY 2019 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $5.97-6.33 for the period.

NYSE DTE opened at $127.38 on Tuesday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.61 and a current ratio of 0.78. DTE Energy has a 12-month low of $94.25 and a 12-month high of $128.28. The company has a market capitalization of $23.35 billion, a PE ratio of 20.22, a price-to-earnings-growth ratio of 3.43 and a beta of 0.26.

DTE Energy (NYSE:DTE) last posted its quarterly earnings data on Wednesday, April 24th. The utilities provider reported $2.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.95 by $0.10. DTE Energy had a net margin of 8.30% and a return on equity of 10.99%. The company had revenue of $3.51 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same period last year, the company earned $1.91 earnings per share. On average, analysts predict that DTE Energy will post 6.2 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 17th will be issued a $0.945 dividend. The ex-dividend date is Friday, June 14th. This represents a $3.78 dividend on an annualized basis and a dividend yield of 2.97%. DTE Energy’s dividend payout ratio (DPR) is presently 60.00%.

DTE has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of DTE Energy from a hold rating to a buy rating and set a $127.00 target price on the stock in a report on Thursday, January 24th. ValuEngine upgraded shares of DTE Energy from a hold rating to a buy rating in a report on Monday, February 4th. Macquarie set a $123.00 target price on shares of DTE Energy and gave the stock a buy rating in a report on Saturday, February 9th. UBS Group boosted their target price on shares of DTE Energy from $132.00 to $134.00 and gave the stock a neutral rating in a report on Thursday, April 25th. Finally, Credit Suisse Group set a $117.00 target price on shares of DTE Energy and gave the stock a sell rating in a report on Monday, April 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $119.46.

In related news, Director Ruth G. Shaw acquired 2,000 shares of DTE Energy stock in a transaction on Tuesday, May 7th. The stock was purchased at an average cost of $124.27 per share, with a total value of $248,540.00. Following the completion of the transaction, the director now directly owns 5,500 shares in the company, valued at approximately $683,485. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, insider Trevor F. Lauer sold 1,700 shares of DTE Energy stock in a transaction on Thursday, February 21st. The stock was sold at an average price of $122.44, for a total transaction of $208,148.00. Following the transaction, the insider now directly owns 19,427 shares of the company’s stock, valued at $2,378,641.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,200 shares of company stock worth $1,643,923. 0.55% of the stock is owned by corporate insiders.

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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.

Further Reading: Oversold

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