DTE Energy Co (DTE) Updates FY13 Earnings Guidance
DTE Energy Co (DTE) updated its FY13 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $3.85-4.15 for the period, compared to the Thomson Reuters consensus estimate of $4.03.
DTE has been the subject of a number of recent research reports. Analysts at Zacks upgraded shares of DTE Energy from a neutral rating to an outperform rating in a research note to investors on Friday, February 8th. They now have a $77.00 price target on the stock. Finally, analysts at BMO Capital Markets reiterated a market perform rating on shares of DTE Energy in a research note to investors on Wednesday, January 2nd. They now have a $62.00 price target on the stock.
Two investment analysts have rated the stock with a buy rating, and eight have issued a hold rating to the company’s stock. DTE Energy currently has an average rating of hold and a consensus price target of $62.83.
DTE Energy Co (DTE) opened at 64.75 on Wednesday. DTE Energy Co (DTE) has a 52-week low of $53.59 and a 52-week high of $65.14. The stock’s 50-day moving average is currently $62.71. The company has a market cap of $11.142 billion and a price-to-earnings ratio of 16.35.
DTE Energy last announced its earnings results on Wednesday, February 20th. The company reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by $0.07. The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.48 billion. During the same quarter in the previous year, the company posted $0.88 earnings per share. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. DTE Energy has set its FY13 guidance at $3.85-4.15 EPS. Analysts expect that DTE Energy Co (DTE) will post $3.91 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, April 15th. Shareholders of record on Monday, March 18th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date of this dividend is Thursday, March 14th.
DTE Energy Company (DTE Energy) is engaged in energy business. The Company’s utility operations consist of The Detroit Edison Company (Detroit Edison) and Michigan Consolidated Gas Company (MichCon).
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