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DTE Energy (DTE) Q4 Earnings Beat Estimates, Raises 2022 View
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DTE Energy Company (DTE - Free Report) reported fourth-quarter 2021 operating earnings per share (EPS) of $1.05, which surpassed the Zacks Consensus Estimate of 94 cents by 11.7%. The bottom line also increased 1.9% from the year-ago quarter’s $1.03 per share .
The company reported GAAP earnings of $1.55 per share compared with earnings of $1.08 in the year-ago quarter.
DTE Energy reported adjusted EPS of $5.99 for full-year 2021, which increased 6.8% from $5.61 reported in 2020 and also beat the Zacks Consensus Estimate of $5.90 by 1.5%.
Highlights of the Release
Operating net income in the reported quarter totaled $203 million compared with $200 million in the year-ago quarter.
Operating net income for 2021 came in at $1.16 billion compared with $1.09 billion in the prior year.
The company announced that it will retire all coal units at the Belle River Power Plant by the end of 2028, thereby achieving its 50% carbon emissions reduction goal by 2028, earlier than planned. Moreover, DTE invested $2.2 billion in 2021 with Michigan-based companies, supporting Michigan’s economy and the growth in jobs.
DTE Energy Company Price, Consensus and EPS Surprise
DTE Electric: The segment’s operating earnings amounted to 39 cents per share, down from 53 cents in the prior-year quarter.
DTE Gas: The segment recorded operating earnings of 35 cents per share compared with 43 cents in the prior-year quarter.
Non-Utility Operations: Operating earnings in the segment totaled 24 cents per share compared with 27 cents in the year-ago quarter.
2022 Guidance
DTE Energy raised its 2022 operating EPS guidance to the range of $5.80-$6.00 from the prior guidance range of $5.70-$5.97. The Zacks Consensus Estimate for 2022 earnings, pegged at $5.92, is more than the midpoint of the newly guided range.
NextEra Energy, Inc. (NEE - Free Report) reported fourth-quarter 2021 adjusted earnings of 41 cents per share, which beat the Zacks Consensus Estimate of 40 cents by 2.5%. The bottom line was also up 2.5% from the prior-year quarter.
NextEra’s operating revenues were $5,046 million, which lagged the Zacks Consensus Estimate of $5,436 million by 7.2%. However, NEE’s top line improved 14.8% year over year.
WEC Energy Group (WEC - Free Report) delivered fourth-quarter 2021 EPS of 71 cents, which beat the Zacks Consensus Estimate of 68 cents by 4.41%.
WEC Energy Group’s operating revenues of $2,201.9 million for the fourth quarter of 2021 topped the Zacks Consensus Estimate of $1,855 million by 18.7%. Also, WEC’s top line grew 14% from $1,933.4 million in the year-ago quarter.
CMS Energy Corporation (CMS - Free Report) reported fourth-quarter 2021 adjusted EPS of 47 cents from continuing operations, which met the Zacks Consensus Estimate. The reported figure declined 2.1% on a year-over-year basis.
CMS Energy’s operating revenues were $2,033 million, which exceeded the Zacks Consensus Estimate of $1,754 million by 15.9%. CMS’s top line also improved 17.7% on a year-over-year basis.
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DTE Energy (DTE) Q4 Earnings Beat Estimates, Raises 2022 View
DTE Energy Company (DTE - Free Report) reported fourth-quarter 2021 operating earnings per share (EPS) of $1.05, which surpassed the Zacks Consensus Estimate of 94 cents by 11.7%. The bottom line also increased 1.9% from the year-ago quarter’s $1.03 per share .
The company reported GAAP earnings of $1.55 per share compared with earnings of $1.08 in the year-ago quarter.
DTE Energy reported adjusted EPS of $5.99 for full-year 2021, which increased 6.8% from $5.61 reported in 2020 and also beat the Zacks Consensus Estimate of $5.90 by 1.5%.
Highlights of the Release
Operating net income in the reported quarter totaled $203 million compared with $200 million in the year-ago quarter.
Operating net income for 2021 came in at $1.16 billion compared with $1.09 billion in the prior year.
The company announced that it will retire all coal units at the Belle River Power Plant by the end of 2028, thereby achieving its 50% carbon emissions reduction goal by 2028, earlier than planned. Moreover, DTE invested $2.2 billion in 2021 with Michigan-based companies, supporting Michigan’s economy and the growth in jobs.
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 39 cents per share, down from 53 cents in the prior-year quarter.
DTE Gas: The segment recorded operating earnings of 35 cents per share compared with 43 cents in the prior-year quarter.
Non-Utility Operations: Operating earnings in the segment totaled 24 cents per share compared with 27 cents in the year-ago quarter.
2022 Guidance
DTE Energy raised its 2022 operating EPS guidance to the range of $5.80-$6.00 from the prior guidance range of $5.70-$5.97. The Zacks Consensus Estimate for 2022 earnings, pegged at $5.92, is more than the midpoint of the newly guided range.
Zacks Rank
DTE Energy currently 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
NextEra Energy, Inc. (NEE - Free Report) reported fourth-quarter 2021 adjusted earnings of 41 cents per share, which beat the Zacks Consensus Estimate of 40 cents by 2.5%. The bottom line was also up 2.5% from the prior-year quarter.
NextEra’s operating revenues were $5,046 million, which lagged the Zacks Consensus Estimate of $5,436 million by 7.2%. However, NEE’s top line improved 14.8% year over year.
WEC Energy Group (WEC - Free Report) delivered fourth-quarter 2021 EPS of 71 cents, which beat the Zacks Consensus Estimate of 68 cents by 4.41%.
WEC Energy Group’s operating revenues of $2,201.9 million for the fourth quarter of 2021 topped the Zacks Consensus Estimate of $1,855 million by 18.7%. Also, WEC’s top line grew 14% from $1,933.4 million in the year-ago quarter.
CMS Energy Corporation (CMS - Free Report) reported fourth-quarter 2021 adjusted EPS of 47 cents from continuing operations, which met the Zacks Consensus Estimate. The reported figure declined 2.1% on a year-over-year basis.
CMS Energy’s operating revenues were $2,033 million, which exceeded the Zacks Consensus Estimate of $1,754 million by 15.9%. CMS’s top line also improved 17.7% on a year-over-year basis.