DTE Energy (NYSE:DTE) Releases Earnings Results, Beats Expectations By $0.07 EPS
DTE Energy (NYSE:DTE) posted its quarterly earnings results on Friday, February 16th. The utilities provider reported $1.26 EPS for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.07, Bloomberg Earnings reports. The company had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $2.17 billion. DTE Energy had a return on equity of 10.81% and a net margin of 8.99%. During the same period in the previous year, the firm earned $0.81 EPS. DTE Energy updated its FY18 guidance to $5.57-5.99 EPS.
DTE Energy (NYSE:DTE) opened at $100.91 on Tuesday. The stock has a market capitalization of $18,100.00, a P/E ratio of 15.94, a price-to-earnings-growth ratio of 2.89 and a beta of 0.19. DTE Energy has a 1 year low of $97.66 and a 1 year high of $116.74. The company has a current ratio of 1.10, a quick ratio of 0.82 and a debt-to-equity ratio of 1.22.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, April 15th. Shareholders of record on Monday, March 19th will be given a dividend of $0.8825 per share. The ex-dividend date is Friday, March 16th. This represents a $3.53 dividend on an annualized basis and a yield of 3.50%. DTE Energy’s dividend payout ratio is currently 55.77%.
In related news, VP Lisa A. Muschong sold 1,341 shares of the stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $100.97, for a total value of $135,400.77. Following the completion of the sale, the vice president now owns 2,676 shares of the company’s stock, valued at $270,195.72. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Gerard M. Anderson sold 12,500 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now directly owns 87,358 shares of the company’s stock, valued at approximately $8,956,815.74. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,521 shares of company stock worth $2,189,173. Company insiders own 0.53% of the company’s stock.
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About DTE Energy
DTE Energy Company is an energy company. Its segments include Electric, which consists of DTE Electric Company, which is engaged in the generation, purchase, distribution and sale of electricity to residential, commercial and industrial customers in southeastern Michigan; Gas, which consists of DTE Gas Company, which is engaged in the purchase, storage, transportation, distribution and sale of natural gas to residential, commercial and industrial customers throughout Michigan; Gas Storage and Pipelines, which consists of natural gas pipeline, gathering and storage businesses; Power and Industrial Projects, which consists of projects that deliver energy and utility-type products and services to industrial, commercial and institutional customers, and sell electricity from renewable energy projects; Energy Trading, which consists of energy marketing and trading operations, and Corporate and Other, which includes various holding company activities and holds certain non-utility debt.
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