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DTE Energy (DTE) Beats on Q1 Earnings, Reaffirms '18 View
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DTE Energy (DTE - Free Report) reported first-quarter 2018 operating earnings per share of $1.91, which beat the Zacks Consensus Estimate of $1.89 by 1.06%. Operating earnings improved 6.7% from the year-ago quarter’s figure of $1.79.
On a GAAP basis, reported earnings came in at $2.00 per share compared with $2.23 in the prior-year quarter.
DTE Energy Company Price, Consensus and EPS Surprise
During the quarter, the company submitted a plan to double its renewable energy capacity by early 2020 to the Michigan Public Service Commission.
During the quarter, the company lowered natural gas prices for its customers in March and again in April, resulting in a drop of 20% from the year-ago period.
Net income in the reported quarter was $342 million compared with $322 million in the year-ago quarter.
Segmental Details
Utility Operations
DTE Electric: The segment’s operating earnings were $142 million, up from $106 million in the prior-year quarter.
DTE Gas: The segment incurred operating earnings of $111 million compared with $107 million in the prior-year quarter.
Non-Utility Operations: The operating earnings from Non-Utility operations were $105 million compared with $93 million in the prior-year quarter.
Guidance
The company reaffirmed its 2018 operating earnings per share guidance in the range of $5.57-$5.99.
FirstEnergy Corporation (FE - Free Report) reported first-quarter 2018 operating earnings of 67 cents per share, lagging the Zacks Consensus Estimate of 68 cents by 1.5%.
NextEra Energy, Inc. (NEE - Free Report) reported first-quarter 2018 adjusted earnings of $1.94 per share, beating the Zacks Consensus Estimate of $1.78 by 8.9%.
Upcoming Peer Release
Xcel Energy Inc. (XEL - Free Report) is scheduled to report first-quarter 2018 results on Apr 26. The Zacks Consensus Estimate for the quarter is 51 cents per share.
Investor Alert: Breakthroughs Pending
A medical advance is now at the flashpoint between theory and realization. Billions of dollars in research have poured into it. Companies are already generating substantial revenue, and even more wondrous products are in the pipeline.
Cures for a variety of deadly diseases are in sight, and so are big potential profits for early investors. Zacks names 5 stocks to buy now.
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DTE Energy (DTE) Beats on Q1 Earnings, Reaffirms '18 View
DTE Energy (DTE - Free Report) reported first-quarter 2018 operating earnings per share of $1.91, which beat the Zacks Consensus Estimate of $1.89 by 1.06%. Operating earnings improved 6.7% from the year-ago quarter’s figure of $1.79.
On a GAAP basis, reported earnings came in at $2.00 per share compared with $2.23 in the prior-year quarter.
DTE Energy Company Price, Consensus and EPS Surprise
DTE Energy Company Price, Consensus and EPS Surprise | DTE Energy Company Quote
Highlights of the Release
During the quarter, the company submitted a plan to double its renewable energy capacity by early 2020 to the Michigan Public Service Commission.
During the quarter, the company lowered natural gas prices for its customers in March and again in April, resulting in a drop of 20% from the year-ago period.
Net income in the reported quarter was $342 million compared with $322 million in the year-ago quarter.
Segmental Details
Utility Operations
DTE Electric: The segment’s operating earnings were $142 million, up from $106 million in the prior-year quarter.
DTE Gas: The segment incurred operating earnings of $111 million compared with $107 million in the prior-year quarter.
Non-Utility Operations: The operating earnings from Non-Utility operations were $105 million compared with $93 million in the prior-year quarter.
Guidance
The company reaffirmed its 2018 operating earnings per share guidance in the range of $5.57-$5.99.
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.
Peer Releases
FirstEnergy Corporation (FE - Free Report) reported first-quarter 2018 operating earnings of 67 cents per share, lagging the Zacks Consensus Estimate of 68 cents by 1.5%.
NextEra Energy, Inc. (NEE - Free Report) reported first-quarter 2018 adjusted earnings of $1.94 per share, beating the Zacks Consensus Estimate of $1.78 by 8.9%.
Upcoming Peer Release
Xcel Energy Inc. (XEL - Free Report) is scheduled to report first-quarter 2018 results on Apr 26. The Zacks Consensus Estimate for the quarter is 51 cents per share.
Investor Alert: Breakthroughs Pending
A medical advance is now at the flashpoint between theory and realization. Billions of dollars in research have poured into it. Companies are already generating substantial revenue, and even more wondrous products are in the pipeline.
Cures for a variety of deadly diseases are in sight, and so are big potential profits for early investors. Zacks names 5 stocks to buy now.
Click here to see them >>