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NextEra Energy, Inc. (NEE) - free report >>
FirstEnergy Corporation (FE) - free report >>
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DTE Energy (DTE) Earnings Miss Estimates in Q1,Down Y/Y
DTE Energy Company DTE reported first-quarter 2020 operating earnings per share (EPS) of $1.66, which missed the Zacks Consensus Estimate of $1.78 by 6.7%. The bottom line fell 19% from $2.05 in the year-ago quarter.
Highlights of the Release
Operating net income in the reported quarter totaled $320 million compared with $374 million in the year-ago quarter.
The company is providing assistance to low-income and vulnerable customers. It has ranked among top 10 energy companies in the United States for energy efficiency programs.
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 49 cents per share, down from 81 cents in the prior-year quarter.
DTE Gas: The segment recorded operating earnings of 63 cents per share compared with 83 cents in the prior-year quarter.
Non-Utility Operations: Operating earnings in the segment totaled 60 cents per share compared with 44 cents in the year-ago quarter.
2020 Guidance
DTE Energy reaffirmed its 2020 operating earnings per share guidance in the range of $6.47-$6.75. The Zacks Consensus Estimate of $6.48 for the company’s full-year earnings lies below the midpoint of its guidance.
Zacks Rank
DTE Energy carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
Recent Utility Releases
FirstEnergy Corporation (FE - Free Report) delivered first-quarter 2020 operating earnings of 66 cents per share, which beat the Zacks Consensus Estimate of 64 cents by 3.13%.
NextEra Energy (NEE - Free Report) reported first-quarter 2020 adjusted earnings of $2.38 per share, which surpassed the Zacks Consensus Estimate of $2.21 by 7.7%.
CMS Energy Corporation (CMS - Free Report) reported first-quarter 2020 adjusted EPS of 86 cents, which surpassed the Zacks Consensus Estimate of 77 cents by 11.7%.
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