Zacks: Analysts expect DTE Energy (NYSE:DTE) to report quarterly sales of $2.78 billion

Stock analysts expect DTE Energy (NYSE:DTE – Get Rating) to post sales of $2.78 billion in the current fiscal quarter, reports Zacks Investment Research. Three analysts provided earnings estimates for DTE Energy, with estimates ranging from $2.42 billion to $3.33 billion. DTE Energy recorded sales of $3.23 billion in the same quarter last year, which would indicate a negative growth rate of 13.9% year over year. The company is expected to release its next quarterly earnings report on Monday, January 1.

According to Zacks, analysts expect DTE Energy to report annual sales of $13.79 billion for the current year, with estimates ranging from $11.73 billion to $16.66 billion. For the next fiscal year, analysts expect the company to post sales of $15.24 billion, with estimates ranging from $12.58 billion to $17.00 billion. Zacks sales calculations are an average based on a survey of research analysts who provide coverage for DTE Energy.

DTE Energy (NYSE:DTE – Get Rating) last released its quarterly results on Thursday, April 28. The utility provider reported EPS of $2.31 for the quarter, beating analyst consensus estimates of $2.06 by $0.25. DTE Energy achieved a return on equity of 13.58% and a net margin of 5.59%. The company posted revenue of $4.58 billion for the quarter, versus analyst estimates of $3.53 billion. During the same period of the previous year, the company achieved EPS of $2.44.

Several equity analysts have recently weighed in on DTE shares. Bank of America upgraded DTE Energy from an “underperforming” rating to a “buy” rating and set a price target of $127.00 for the company in a Tuesday, February 15 report. Argus raised its price target on DTE Energy from $130.00 to $132.00 in a Thursday, March 10 report. Citigroup raised its price target on DTE Energy from $134.00 to $146.00 in a Tuesday, May 3 research note. UBS Group downgraded shares of DTE Energy from a ‘buy’ to a ‘neutral’ rating and lowered its price target for the company from $136.00 to $133.00 in a Friday research report March 11. Finally, Morgan Stanley lowered its price target on DTE Energy shares from $143.00 to $137.00 and set an “overweight” rating for the company in a Monday, May 23 report. Four analysts gave the stock a hold rating, seven gave the company a buy rating and one gave the company’s stock a strong buy rating. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $130.91.

Separately, CAO Tracy J. Myrick sold 600 shares of the company in a trade dated Friday, March 4. The shares were sold at an average price of $124.99, for a total value of $74,994.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Additionally, Vice President Lisa A. Muschong sold 1,600 shares of the company in a transaction dated Friday, March 4. The stock was sold at an average price of $127.86, for a total transaction of $204,576.00. The disclosure of this sale can be found here. Insiders have sold 3,850 shares of the company valued at $479,171 over the past three months. 0.61% of the shares are held by insiders.

Several large investors have recently increased or reduced their stake in DTE. Tsfg LLC increased its stake in DTE Energy by 73.5% in the 4th quarter. Tsfg LLC now owns 236 shares of the utility provider worth $28,000 after buying an additional 100 shares in the last quarter. City State Bank bought a new stock position in DTE Energy during Q4, valued at around $30,000. Elequin Capital LP bought a new stake in DTE Energy in Q1 for $35,000. FSB Premier Wealth Management Inc. acquired a new stake in DTE Energy in Q4 valued at $46,000. Finally, Moors & Cabot Inc. acquired a new stake in DTE Energy in Q3 for $48,000. Institutional investors and hedge funds hold 72.21% of the company’s shares.

DTE opened at $134.30 on Friday. The company has a fifty-day simple moving average of $132.56 and a 200-day simple moving average of $123.25. The stock has a market capitalization of $26.02 billion, a P/E ratio of 28.88, a P/E/G ratio of 3.56 and a beta of 0.63. The company has a quick ratio of 0.51, a current ratio of 0.64 and a debt ratio of 1.76. DTE Energy has a 12-month low of $107.38 and a 12-month high of $140.23.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 15. Shareholders of record on Monday, June 20 will receive a dividend of $0.885. The ex-dividend date is Thursday, June 16. This represents an annualized dividend of $3.54 and a dividend yield of 2.64%. DTE Energy’s dividend payout ratio is currently 76.13%.

DTE Energy Company Profile (Get a rating)

DTE Energy Company engages in utility operations. The Company’s Electric segment generates, purchases, distributes and sells electricity to approximately 2.3 million residential, commercial and industrial customers in southeast Michigan. It generates electricity from fossil fuels, hydroelectric pumped storage and nuclear power plants, as well as wind power and other renewable assets.

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Sallie R. Loera