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DTE Energy (DTE) Q4 Earnings Beat Estimates, Increase Y/Y
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DTE Energy Company (DTE - Free Report) reported fourth-quarter 2020 operating earnings per share of $1.39, which surpassed the Zacks Consensus Estimate of $1.33 by 4.5%. The bottom line improved 3% from $1.35 in the year-ago quarter.
In 2020, the company generated operating earnings per share of $7.19, which surpassed the Zacks Consensus Estimate of $7.04 by 2.1%. The full-year bottom line also improved 14.1% from $6.30 in the prior year. Highlights of the Release
Operating net income in the reported quarter totaled $271 million compared with $258 million in the year-ago quarter.
In 2020, the company invested $2.2 billion in Michigan-based companies, exceeding its commitment to the Pure Michigan Business Connect local supplier initiative.
DTE Energy Company Price, Consensus and EPS Surprise
DTE Electric: The segment’s operating earnings totaled $102 million, down from $128 million in the prior-year quarter.
DTE Gas: The segment’s operating earnings totaled $84 million, up from $64 million in the prior-year quarter.
Non-Utility Operations: The segment’s operating earnings totaled $125 million, up from $93 million in the prior-year quarter.
2021 Guidance
DTE Energy provided its 2021 operating earnings per share guidance in the range of $6.88-$7.26. The Zacks Consensus Estimate of $7.14 for the company’s full-year earnings lies above the midpoint of its guided range.
Xcel Energy Inc. (XEL - Free Report) posted fourth-quarter 2020 operating earnings of 54 cents per share, in line with the Zacks Consensus Estimate.
NextEra Energy, Inc. (NEE - Free Report) reported fourth-quarter 2020 adjusted earnings of 40 cents per share, which beat the Zacks Consensus Estimate of 39 cents by 2.6%.
CMS Energy Corp. (CMS - Free Report) reported fourth-quarter 2020 adjusted earnings per share of 56 cents, which surpassed the Zacks Consensus Estimate of 55 cents by 1.8%.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
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DTE Energy (DTE) Q4 Earnings Beat Estimates, Increase Y/Y
DTE Energy Company (DTE - Free Report) reported fourth-quarter 2020 operating earnings per share of $1.39, which surpassed the Zacks Consensus Estimate of $1.33 by 4.5%. The bottom line improved 3% from $1.35 in the year-ago quarter.
In 2020, the company generated operating earnings per share of $7.19, which surpassed the Zacks Consensus Estimate of $7.04 by 2.1%. The full-year bottom line also improved 14.1% from $6.30 in the prior year.
Highlights of the Release
Operating net income in the reported quarter totaled $271 million compared with $258 million in the year-ago quarter.
In 2020, the company invested $2.2 billion in Michigan-based companies, exceeding its commitment to the Pure Michigan Business Connect local supplier initiative.
DTE Energy Company Price, Consensus and EPS Surprise
DTE Energy Company price-consensus-eps-surprise-chart | DTE Energy Company Quote
Utility Operations
DTE Electric: The segment’s operating earnings totaled $102 million, down from $128 million in the prior-year quarter.
DTE Gas: The segment’s operating earnings totaled $84 million, up from $64 million in the prior-year quarter.
Non-Utility Operations: The segment’s operating earnings totaled $125 million, up from $93 million in the prior-year quarter.
2021 Guidance
DTE Energy provided its 2021 operating earnings per share guidance in the range of $6.88-$7.26. The Zacks Consensus Estimate of $7.14 for the company’s full-year earnings lies above the midpoint of its guided range.
Zacks Rank
DTE Energy carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Utility Releases
Xcel Energy Inc. (XEL - Free Report) posted fourth-quarter 2020 operating earnings of 54 cents per share, in line with the Zacks Consensus Estimate.
NextEra Energy, Inc. (NEE - Free Report) reported fourth-quarter 2020 adjusted earnings of 40 cents per share, which beat the Zacks Consensus Estimate of 39 cents by 2.6%.
CMS Energy Corp. (CMS - Free Report) reported fourth-quarter 2020 adjusted earnings per share of 56 cents, which surpassed the Zacks Consensus Estimate of 55 cents by 1.8%.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
See the 5 high-tech stocks now>>