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DTE Energy (DTE) to Report Q1 Earnings: What's in the Cards?
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DTE Energy Corporation (DTE - Free Report) is set to report first-quarter 2020 results on Apr 28, before market open. In the last reported quarter, the company delivered a positive earnings surprise of 4.65%.
However, in the trailing four quarters, the company came up with a negative earnings surprise of 0.97%, on average.
Let's take a closer look at the factors that are likely to have impacted DTE Energy’s performance.
Factors at Play
DTE Energy's service territories witnessed moderate snowfall during most part of first-quarter 2020. Such weather conditions are likely to have resulted in higher electricity demand, which, in turn, might have boosted DTE Energy’s top line in the soon-to-be-reported quarter.
However, some storms hit parts of Michigan, bringing heavy snowfall. This might have resulted in a few outages in DTE Energy’s service territories, thereby affecting the company’s top line partially.
Notably, the Zacks Consensus Estimate for the company’s first-quarter revenues is pegged at $3.31billion, indicating 5.8% decline from the figure reported in the year-ago quarter.
Around the onset of the last week of March, DTE Energy announced that it is voluntarily suspending all non-critical infrastructure and maintenance work to prioritize the health of its employees, in light of the novel coronavirus outbreak. Noncritical work includes infrastructure construction and home energy consultations. This might have impacted the company’s first quarter bottom line.
Meanwhile, DTE Energy expressed its concern that residential customers may not have beenable to pay their energy bills due to income reductions or health impacts from COVID-19. This might have hurt the company’s top as well as bottom line growth.
The Zacks Consensus Estimate for DTE Energy’s first-quarter earnings is pegged at $1.81 per share, indicating 11.7% deterioration from the figure reported in the year-ago quarter.
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for DTE Energy this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. But that is not the case here.
Earnings ESP: DTE Energy has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Here are a few players from the Utilities sector that have the right combination of elements to deliver an earnings beat in the to-be-reported quarter.
CenterPoint Energy (CNP - Free Report) has an Earnings ESP of +10.59% and a Zacks Rank #3. The company will announce first-quarter 2020 earnings on May 7.
Duke Energy (DUK - Free Report) has an Earnings ESP of +0.68% and a Zacks Rank #3. The company will announce first-quarter 2020 earnings on May 12.
Consolidated Edison (ED - Free Report) has an Earnings ESP of +0.69% and a Zacks Rank #3. The company will announce first-quarter 2020 earnings on May 7.
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Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
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DTE Energy (DTE) to Report Q1 Earnings: What's in the Cards?
DTE Energy Corporation (DTE - Free Report) is set to report first-quarter 2020 results on Apr 28, before market open. In the last reported quarter, the company delivered a positive earnings surprise of 4.65%.
However, in the trailing four quarters, the company came up with a negative earnings surprise of 0.97%, on average.
Let's take a closer look at the factors that are likely to have impacted DTE Energy’s performance.
Factors at Play
DTE Energy's service territories witnessed moderate snowfall during most part of first-quarter 2020. Such weather conditions are likely to have resulted in higher electricity demand, which, in turn, might have boosted DTE Energy’s top line in the soon-to-be-reported quarter.
However, some storms hit parts of Michigan, bringing heavy snowfall. This might have resulted in a few outages in DTE Energy’s service territories, thereby affecting the company’s top line partially.
DTE Energy Company Price and EPS Surprise
DTE Energy Company price-eps-surprise | DTE Energy Company Quote
Notably, the Zacks Consensus Estimate for the company’s first-quarter revenues is pegged at $3.31billion, indicating 5.8% decline from the figure reported in the year-ago quarter.
Around the onset of the last week of March, DTE Energy announced that it is voluntarily suspending all non-critical infrastructure and maintenance work to prioritize the health of its employees, in light of the novel coronavirus outbreak. Noncritical work includes infrastructure construction and home energy consultations. This might have impacted the company’s first quarter bottom line.
Meanwhile, DTE Energy expressed its concern that residential customers may not have beenable to pay their energy bills due to income reductions or health impacts from COVID-19. This might have hurt the company’s top as well as bottom line growth.
The Zacks Consensus Estimate for DTE Energy’s first-quarter earnings is pegged at $1.81 per share, indicating 11.7% deterioration from the figure reported in the year-ago quarter.
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for DTE Energy this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. But that is not the case here.
Earnings ESP: DTE Energy has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks to Consider
Here are a few players from the Utilities sector that have the right combination of elements to deliver an earnings beat in the to-be-reported quarter.
CenterPoint Energy (CNP - Free Report) has an Earnings ESP of +10.59% and a Zacks Rank #3. The company will announce first-quarter 2020 earnings on May 7.
Duke Energy (DUK - Free Report) has an Earnings ESP of +0.68% and a Zacks Rank #3. The company will announce first-quarter 2020 earnings on May 12.
Consolidated Edison (ED - Free Report) has an Earnings ESP of +0.69% and a Zacks Rank #3. The company will announce first-quarter 2020 earnings on May 7.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
See 8 breakthrough stocks now>>