Detroit, MI-based DTE Energy Company (DTE - Free Report) is a holding company with subsidiaries engaged in regulated and unregulated energy businesses. The company’s largest regulated subsidiaries comprise DTE Electric Company and DTE Gas Company, and both of their subsidiaries.
DTE Energy follows a disciplined capital spending program to maintain and upgrade the reliability of its electric utility systems. The gradual recovery in Michigan’s economy, decline in unemployment rates and increasing housing permits bode well for the company going forward.
Estimate Trend & Surprise History
Investors should note that the second quarter Zacks Consensus Estimate for earnings of 97 cents per share has increased by 4 cents over the last 7 days.
Coming to the earnings surprise, DTE Energy has surpassed the Zacks Consensus Estimate in three of the last four quarters, resulting in a positive average surprise of 11.65%.
Zacks Rank: Currently, DTE Energy has a Zacks Rank #3 (Hold) but that could change following its second quarter 2017 earnings report which has just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
We have highlighted some of the key details from the just-released announcement below:
Earnings: DTE Energy’s adjusted earnings per share came in at $1.07, which surpassed the Zacks Consensus Estimate of 97 cents.
The company‘s second quarter reported earnings came in at 99 cents per share.
Revenue: The company reported revenues of $2.86 billion in second quarter, compared to our consensus estimate of $2.31 billion.
Key Stats: The company raised its 2017 operating earnings per share guidance in the range of $5.26-$5.57 from the prior guidance of $5.15-$5.46.
Check back later for our full write up on this DTE Energy Company earnings report later!
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