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NextEra Energy, Inc. (NEE) - $25 value - yours FREE >>
DTE Energy Company (DTE) - $25 value - yours FREE >>
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DTE Energy's (DTE) Q2 Earnings Beat Estimates, Increase Y/Y
DTE Energy Company (DTE - Free Report) reported second-quarter 2021 operating earnings per share (EPS) of $1.70, which beat the Zacks Consensus Estimate of $1.44 by 18.1%. The bottom line also improved 11.1% from the year-ago quarter’s $1.53.
The company reported GAAP earnings of 92 cents per share compared to earnings of $1.44 in the year-ago quarter.
Highlights of the Release
Operating net income in the reported quarter totaled $329 million compared with $277 million in the year-ago quarter.
During the second quarter, the company executed the successful spin-off of its midstream business, now called DT Midstream, which commenced publicly trading on Jul 1, 2021.
DTE Energy Company Price, Consensus and EPS Surprise
DTE Energy Company price-consensus-eps-surprise-chart | DTE Energy Company Quote
Segmental Details
Utility Operations
DTE Electric: The segment’s operating earnings amounted to $1.23 per share, up from $1.13 in the prior-year quarter.
DTE Gas: The segment recorded operating earnings of 4 cents per share compared with 5 cents in the prior-year quarter.
Non-Utility Operations: Operating earnings in the segment totaled 72 cents per share compared with 53 cents in the year-ago quarter.
2021 Guidance
DTE Energy updated its 2021 operating earnings per share guidance in the range of $5.62-$5.92 from $5.36-$5.66. The Zacks Consensus Estimate of $5.81 for the company’s full-year earnings lies above the midpoint of its guided range.
Zacks Rank
DTE Energy carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Utility Releases
American Electric Power (AEP - Free Report) reported second-quarter 2021 adjusted earnings per share of $1.18, which exceeded the Zacks Consensus Estimate of $1.14 by 3.5%.
NextEra Energy (NEE - Free Report) reported second-quarter 2021 adjusted earnings of 71 cents per share, which beat the Zacks Consensus Estimate of 67 cents by 5.6%.
An Upcoming Utility Release
CenterPoint Energy (CNP - Free Report) is set to release its second-quarter results on Aug 5.