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DTE Energy's (DTE) Q1 Earnings in Line with Estimates

Detroit, MI-based DTE Energy Company DTE is a holding company with subsidiaries engaged in regulated and unregulated energy businesses. The company’s largest regulated subsidiaries comprise DTE Electric Company and DTE Gas Company, and both of their subsidiaries.

DTE Energy follows a disciplined capital spending program to maintain and upgrade the reliability of its electric utility systems. The gradual recovery in Michigan’s economy, decline in unemployment rates and increasing housing permits bode well for the company going forward.

Estimate Trend & Surprise History

Investors should note that the first quarter Zacks Consensus Estimate for earnings of $1.52 per share has decreased by 4 cents over the last 7 days.

Coming to the earnings surprise, DTE Energy has surpassed the Zacks Consensus Estimate in three out of last four quarters, resulting in a positive average surprise of 5.02%.

Zacks Rank: Currently, DTE Energy has a Zacks Rank #4 (Sell) but that could change following its first quarter 2016 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:

Earnings: DTE Energy’s operating earnings per share came in at $1.52, in line with the Zacks Consensus Estimate.

The company’s reported earnings in the first quarter 2016 stood at $1.37 per share.

Revenue: The company reported revenues of $2,566 billion.

Key Stats: The company maintained its 2016 operating earnings per share guidance at $4.80 -$5.05.

Check back later for our full write up on this DTE Energy Company earnings report later!

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DTE ENERGY CO (DTE): Free Stock Analysis Report
 
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