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DTE Energy (DTE) Up 2.6% Since Last Earnings Report: Can It Continue?
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A month has gone by since the last earnings report for DTE Energy (DTE - Free Report) . Shares have added about 2.6% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is DTE Energy due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.
DTE Energy Company 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.
Segmental Details
DTE Electric: The segment’s operating earnings amounted to $1.23 per share, up from $1.13 in the prior-year
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.
How Have Estimates Been Moving Since Then?
It turns out, fresh estimates have trended upward during the past month.
VGM Scores
Currently, DTE Energy has a subpar Growth Score of D, however its Momentum Score is doing a lot better with an A. Charting a somewhat similar path, the stock was allocated a grade of B on the value side, putting it in the second quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been trending upward for the stock, and the magnitude of this revision looks promising. Notably, DTE Energy has a Zacks Rank #4 (Sell). We expect a below average return from the stock in the next few months.
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DTE Energy (DTE) Up 2.6% Since Last Earnings Report: Can It Continue?
A month has gone by since the last earnings report for DTE Energy (DTE - Free Report) . Shares have added about 2.6% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is DTE Energy due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.
DTE Energy’s Q2 Earnings Beat Estimates, Increase Y/Y
DTE Energy Company 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.
Segmental Details
DTE Electric: The segment’s operating earnings amounted to $1.23 per share, up from $1.13 in the prior-year
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.
How Have Estimates Been Moving Since Then?
It turns out, fresh estimates have trended upward during the past month.
VGM Scores
Currently, DTE Energy has a subpar Growth Score of D, however its Momentum Score is doing a lot better with an A. Charting a somewhat similar path, the stock was allocated a grade of B on the value side, putting it in the second quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been trending upward for the stock, and the magnitude of this revision looks promising. Notably, DTE Energy has a Zacks Rank #4 (Sell). We expect a below average return from the stock in the next few months.