DTE Energy Co (NYSE:DTE) Expected to Post Q3 2019 Earnings of $2.02 Per Share
DTE Energy Co (NYSE:DTE) – KeyCorp issued their Q3 2019 earnings per share (EPS) estimates for DTE Energy in a research note issued on Thursday, July 18th. KeyCorp analyst S. Karp forecasts that the utilities provider will post earnings of $2.02 per share for the quarter. KeyCorp currently has a “Overweight” rating and a $136.00 target price on the stock. KeyCorp also issued estimates for DTE Energy’s FY2019 earnings at $6.14 EPS.
DTE has been the subject of a number of other research reports. UBS Group restated a “buy” rating and issued a $124.00 price target on shares of Cie Gnrl des Etblsmnts Michelin SCA in a research report on Thursday, April 25th. Bank of America reissued a “buy” rating and issued a $25.00 price target on shares of Infineon Technologies in a research note on Monday, June 3rd. ValuEngine lowered Yext from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 10th. Barclays reissued a “hold” rating and issued a $14.00 price target on shares of MACOM Technology Solutions in a research note on Thursday, June 20th. Finally, Zacks Investment Research lowered Guaranty Federal Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday, April 23rd. Two analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the stock. DTE Energy presently has an average rating of “Hold” and an average price target of $123.31.
DTE Energy (NYSE:DTE) last announced its quarterly earnings results on Wednesday, April 24th. The utilities provider reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $0.10. DTE Energy had a net margin of 8.30% and a return on equity of 10.99%. The business had revenue of $3.51 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same quarter last year, the firm earned $1.91 EPS.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be given a dividend of $0.945 per share. This represents a $3.78 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date of this dividend is Friday, September 13th. DTE Energy’s dividend payout ratio (DPR) is 60.00%.
In other DTE Energy news, insider Mark W. Stiers sold 10,000 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $127.84, for a total transaction of $1,278,400.00. Following the sale, the insider now directly owns 6,700 shares in the company, valued at $856,528. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Lisa A. Muschong sold 237 shares of the business’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $128.86, for a total transaction of $30,539.82. Following the sale, the vice president now owns 2,100 shares in the company, valued at $270,606. The disclosure for this sale can be found here. Insiders have sold a total of 21,737 shares of company stock worth $2,744,715 in the last three months. Insiders own 0.55% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in DTE. Bessemer Group Inc. increased its position in shares of DTE Energy by 11.3% in the fourth quarter. Bessemer Group Inc. now owns 1,156 shares of the utilities provider’s stock valued at $128,000 after buying an additional 117 shares in the last quarter. Dimensional Fund Advisors LP increased its position in DTE Energy by 11.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 489,602 shares of the utilities provider’s stock worth $54,002,000 after purchasing an additional 51,344 shares in the last quarter. Geode Capital Management LLC increased its position in DTE Energy by 6.9% during the 4th quarter. Geode Capital Management LLC now owns 2,344,758 shares of the utilities provider’s stock worth $258,174,000 after purchasing an additional 150,611 shares in the last quarter. Two Sigma Securities LLC purchased a new stake in DTE Energy during the 4th quarter worth about $284,000. Finally, D. E. Shaw & Co. Inc. purchased a new stake in DTE Energy during the 4th quarter worth about $18,863,000. Hedge funds and other institutional investors own 70.49% of the company’s stock.
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.
See Also: Ex-Dividend
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