DTE Energy (NYSE:DTE) Posts Earnings Results

Key Points

• DTE Energy reported quarterly earnings of $1.36 per share, missing expectations by $0.34, with a return on equity of 13.00% and a net margin of 11.25%.
• The company announced a quarterly dividend of $1.09 per share, which will be paid on October 15th, reflecting a 3.17% yield and a dividend payout ratio of 58.92%.
• Despite the earnings miss, several analysts have maintained a positive outlook, with a consensus rating of "Moderate Buy" and an average target price of $141.53.

DTE Energy (NYSE:DTE - Get Free Report) released its quarterly earnings data on Tuesday. The utilities provider reported $1.36 EPS for the quarter, missing analysts' consensus estimates of $1.37 by ($0.01), Zacks reports. DTE Energy had a return on equity of 12.72% and a net margin of 10.16%. The firm had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.67 billion.

DTE Energy Price Performance

NYSE:DTE traded up $0.07 during mid-day trading on Friday, reaching $138.48. 1,411,978 shares of the stock were exchanged, compared to its average volume of 1,421,476. The business has a fifty day moving average price of $134.40 and a 200 day moving average price of $132.17. The firm has a market capitalization of $28.75 billion, a PE ratio of 19.93, a PEG ratio of 2.69 and a beta of 0.44. DTE Energy has a 1-year low of $115.59 and a 1-year high of $140.39. The company has a current ratio of 0.94, a quick ratio of 0.59 and a debt-to-equity ratio of 1.96.

DTE Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be issued a dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Monday, September 15th. DTE Energy's payout ratio is presently 58.92%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on DTE shares. Wall Street Zen lowered DTE Energy from a "hold" rating to a "sell" rating in a research note on Friday, May 16th. Wells Fargo & Company increased their price target on DTE Energy from $145.00 to $154.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. JPMorgan Chase & Co. increased their price target on DTE Energy from $145.00 to $147.00 and gave the company a "neutral" rating in a report on Tuesday, July 15th. BMO Capital Markets increased their price target on DTE Energy from $135.00 to $142.00 and gave the company a "market perform" rating in a report on Monday, April 21st. Finally, Evercore ISI increased their target price on DTE Energy from $136.00 to $145.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $141.53.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of DTE. Empowered Funds LLC grew its holdings in shares of DTE Energy by 200.7% in the 1st quarter. Empowered Funds LLC now owns 9,909 shares of the utilities provider's stock worth $1,370,000 after acquiring an additional 6,614 shares during the last quarter. Intech Investment Management LLC grew its holdings in shares of DTE Energy by 6.5% in the 1st quarter. Intech Investment Management LLC now owns 12,687 shares of the utilities provider's stock worth $1,754,000 after acquiring an additional 773 shares during the last quarter. Finally, Woodline Partners LP grew its holdings in shares of DTE Energy by 40.8% in the 1st quarter. Woodline Partners LP now owns 17,509 shares of the utilities provider's stock worth $2,421,000 after acquiring an additional 5,072 shares during the last quarter. 76.06% of the stock is owned by institutional investors and hedge funds.

DTE Energy Company Profile

DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to various residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through coal-fired plants, hydroelectric pumped storage, and nuclear plants, as well as wind and solar assets.