$2.93 Billion in Sales Expected for DTE Energy Co (NYSE:DTE) This Quarter

Analysts forecast that DTE Energy Co (NYSE:DTE) will announce $2.93 billion in sales for the current quarter, Zacks reports. Two analysts have made estimates for DTE Energy’s earnings, with the lowest sales estimate coming in at $2.67 billion and the highest estimate coming in at $3.19 billion. DTE Energy reported sales of $2.89 billion during the same quarter last year, which would suggest a positive year over year growth rate of 1.4%. The firm is expected to issue its next quarterly earnings results on Wednesday, July 22nd.

According to Zacks, analysts expect that DTE Energy will report full year sales of $12.57 billion for the current fiscal year, with estimates ranging from $11.76 billion to $13.79 billion. For the next fiscal year, analysts forecast that the firm will report sales of $12.94 billion, with estimates ranging from $12.14 billion to $14.12 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover DTE Energy.

DTE Energy (NYSE:DTE) last announced its earnings results on Tuesday, April 28th. The utilities provider reported $1.66 EPS for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.08). The business had revenue of $3.02 billion during the quarter, compared to analysts’ expectations of $3.45 billion. DTE Energy had a net margin of 9.10% and a return on equity of 9.82%. During the same period in the previous year, the company posted $2.05 earnings per share.

DTE has been the topic of several research reports. JPMorgan Chase & Co. lowered their price target on shares of DTE Energy from $140.00 to $115.00 and set a “neutral” rating on the stock in a research report on Thursday, March 26th. Credit Suisse Group dropped their price target on shares of DTE Energy from $140.00 to $120.00 and set a “neutral” rating on the stock in a research report on Thursday, April 23rd. TheStreet downgraded shares of DTE Energy from a “b-” rating to a “c+” rating in a research report on Thursday, April 2nd. Wells Fargo & Co dropped their target price on shares of DTE Energy from $153.00 to $120.00 and set an “overweight” rating on the stock in a research report on Monday, March 30th. Finally, Evercore ISI raised shares of DTE Energy from an “in-line” rating to an “outperform” rating and set a $139.00 target price on the stock in a research report on Monday, January 27th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $125.92.

In other DTE Energy news, SVP Joann Chavez sold 400 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $101.93, for a total transaction of $40,772.00. Following the sale, the senior vice president now owns 5,300 shares of the company’s stock, valued at approximately $540,229. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.57% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the business. AlphaCore Capital LLC acquired a new position in DTE Energy during the 1st quarter valued at about $26,000. Sowa Financial Group Inc. acquired a new position in DTE Energy during the 4th quarter valued at about $27,000. Raab & Moskowitz Asset Management LLC acquired a new position in DTE Energy during the 4th quarter valued at about $31,000. Tarbox Family Office Inc. lifted its position in DTE Energy by 567.6% during the 4th quarter. Tarbox Family Office Inc. now owns 247 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 210 shares during the period. Finally, Citizens Financial Group Inc RI lifted its position in DTE Energy by 401.1% during the 1st quarter. Citizens Financial Group Inc RI now owns 436 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 349 shares during the period. 72.79% of the stock is currently owned by hedge funds and other institutional investors.

DTE traded up $1.08 on Monday, hitting $102.12. 803,800 shares of the company were exchanged, compared to its average volume of 1,562,809. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.71 and a current ratio of 0.89. The business’s fifty day moving average is $102.01 and its 200 day moving average is $116.65. DTE Energy has a fifty-two week low of $71.21 and a fifty-two week high of $135.67. The firm has a market capitalization of $19.67 billion, a P/E ratio of 17.37, a price-to-earnings-growth ratio of 2.83 and a beta of 0.60.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Monday, June 15th will be issued a dividend of $1.013 per share. This represents a $4.05 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date of this dividend is Friday, June 12th. DTE Energy’s dividend payout ratio is currently 64.29%.

DTE Energy Company Profile

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.

Read More: Example of operating income, EBIT and EBITDA

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