DTE Energy Company (NYSE:DTE) posted its earnings results on Wednesday, July 26th. The utilities provider reported $1.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.08, MarketWatch Earnings reports. DTE Energy had a return on equity of 10.67% and a net margin of 8.80%. The company had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period last year, the company earned $0.98 earnings per share. The business’s revenue was up 26.2% compared to the same quarter last year. DTE Energy updated its FY17 guidance to $5.26-5.57 EPS.
DTE Energy (NYSE:DTE) traded down 1.09% during trading on Friday, hitting $107.87. The stock had a trading volume of 590,537 shares. DTE Energy has a 12-month low of $89.66 and a 12-month high of $111.35. The stock has a 50 day moving average price of $106.88 and a 200 day moving average price of $104.26. The company has a market capitalization of $19.35 billion, a price-to-earnings ratio of 18.57 and a beta of 0.21.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Stockholders of record on Monday, September 18th will be paid a $0.825 dividend. The ex-dividend date is Friday, September 15th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 3.06%. DTE Energy’s payout ratio is presently 56.60%.
WARNING: “DTE Energy Company (DTE) Posts Quarterly Earnings Results, Beats Estimates By $0.08 EPS” was published by BNB Daily and is the property of of BNB Daily. If you are reading this report on another publication, it was illegally copied and republished in violation of United States and international copyright and trademark law. The legal version of this report can be viewed at https://www.baseball-news-blog.com/2017/08/13/dte-energy-company-dte-releases-quarterly-earnings-results-beats-expectations-by-0-08-eps-updated-updated.html.
DTE has been the topic of several recent research reports. Barclays PLC restated an “overweight” rating and set a $115.00 target price (up from $106.00) on shares of DTE Energy in a report on Sunday, April 23rd. BidaskClub lowered DTE Energy from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Jefferies Group LLC restated a “buy” rating and set a $117.00 target price (up from $108.50) on shares of DTE Energy in a report on Thursday, April 27th. Zacks Investment Research lowered DTE Energy from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Finally, BMO Capital Markets restated a “hold” rating and set a $111.00 target price on shares of DTE Energy in a report on Friday, July 28th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $108.00.
In related news, COO Gerardo Norcia sold 4,838 shares of the firm’s stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $110.73, for a total value of $535,711.74. Following the completion of the sale, the chief operating officer now directly owns 115,930 shares in the company, valued at approximately $12,836,928.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Bruce D. Peterson sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $110.08, for a total transaction of $550,400.00. Following the completion of the sale, the senior vice president now owns 29,156 shares of the company’s stock, valued at $3,209,492.48. The disclosure for this sale can be found here. Insiders sold a total of 32,263 shares of company stock valued at $3,489,815 over the last quarter. 0.53% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Toronto Dominion Bank boosted its position in DTE Energy by 56.5% in the first quarter. Toronto Dominion Bank now owns 48,419 shares of the utilities provider’s stock valued at $4,943,000 after buying an additional 17,478 shares in the last quarter. Russell Investments Group Ltd. boosted its position in DTE Energy by 129.0% in the first quarter. Russell Investments Group Ltd. now owns 403,811 shares of the utilities provider’s stock valued at $41,222,000 after buying an additional 227,469 shares in the last quarter. Suntrust Banks Inc. boosted its position in DTE Energy by 6.2% in the first quarter. Suntrust Banks Inc. now owns 25,764 shares of the utilities provider’s stock valued at $2,630,000 after buying an additional 1,502 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its position in DTE Energy by 4.8% in the first quarter. Massmutual Trust Co. FSB ADV now owns 4,018 shares of the utilities provider’s stock valued at $410,000 after buying an additional 185 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in DTE Energy by 3.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 387,755 shares of the utilities provider’s stock valued at $38,200,000 after buying an additional 13,425 shares in the last quarter. 67.75% of the stock is currently owned by hedge funds and other institutional investors.
About DTE Energy
Receive News & Ratings for DTE Energy Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DTE Energy Company and related companies with MarketBeat.com's FREE daily email newsletter.