DTE Energy Co. (DTE) Releases FY16 Earnings Guidance

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DTE Energy Co. (NYSE:DTE) issued an update on its FY16 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $4.91-5.19 for the period, compared to the Thomson Reuters consensus estimate of $5.06.
Shares of DTE Energy Co. (NYSE:DTE) opened at 91.35 on Wednesday. DTE Energy Co. has a 52 week low of $76.23 and a 52 week high of $100.45. The firm has a market capitalization of $16.39 billion, a P/E ratio of 22.06 and a beta of 0.26. The firm’s 50-day moving average is $94.94 and its 200 day moving average is $92.28.
DTE Energy (NYSE:DTE) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $0.98 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.09. The firm had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.36 billion. DTE Energy had a net margin of 7.51% and a return on equity of 10.00%. The company’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.76 earnings per share. Equities research analysts forecast that DTE Energy Co. will post $5.07 EPS for the current fiscal year.

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The business also recently declared a quarterly dividend, which will be paid on Saturday, October 15th. Stockholders of record on Monday, September 19th will be paid a dividend of $0.77 per share. This is a boost from DTE Energy’s previous quarterly dividend of $0.73. This represents a $3.08 annualized dividend and a dividend yield of 3.37%. The ex-dividend date is Thursday, September 15th. DTE Energy’s dividend payout ratio is 70.70%.
DTE has been the topic of several research analyst reports. KeyCorp set a $105.00 price target on shares of DTE Energy and gave the company a buy rating in a research note on Monday. Barclays PLC reissued a buy rating and set a $108.00 price target on shares of DTE Energy in a research note on Thursday, July 28th. Zacks Investment Research raised shares of DTE Energy from a hold rating to a buy rating and set a $106.00 price target on the stock in a research note on Monday, June 20th. Finally, BMO Capital Markets reissued a hold rating on shares of DTE Energy in a research note on Wednesday, June 22nd. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $99.60.
In other DTE Energy news, Chairman Gerard M. Anderson sold 17,500 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $97.96, for a total value of $1,714,300.00. Following the transaction, the chairman now directly owns 77,500 shares of the company’s stock, valued at $7,591,900. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.93% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in DTE. Arvest Bank Trust Division raised its stake in DTE Energy by 1.0% in the second quarter. Arvest Bank Trust Division now owns 125,077 shares of the company’s stock valued at $12,397,000 after buying an additional 1,281 shares during the period. Virtu Financial LLC purchased a new stake in DTE Energy during the second quarter valued at $424,000. Caisse DE Depot ET Placement DU Quebec raised its stake in DTE Energy by 58.8% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 221,449 shares of the company’s stock valued at $21,950,000 after buying an additional 82,032 shares during the period. Point72 Asset Management L.P. purchased a new stake in DTE Energy during the second quarter valued at $241,000. Finally, AHL Partners LLP raised its stake in DTE Energy by 857.8% in the second quarter. AHL Partners LLP now owns 64,106 shares of the company’s stock valued at $6,354,000 after buying an additional 57,413 shares during the period. 65.28% of the stock is currently owned by hedge funds and other institutional investors.
DTE Energy Company Profile
DTE Energy Company (DTE Energy) is a diversified energy company. DTE Energy’s utility operations consist primarily of DTE Electric Company (DTE Electric) and DTE Gas Company (DTE Gas). The Company’s segments include Electric, Gas, Gas Storage and Pipelines, Power and Industrial Projects, Energy Trading, and Corporate and Other.

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