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DTE Energy beats 1Q profit forecasts

DETROIT (AP) _ DTE Energy Co. (DTE) on Wednesday reported first-quarter earnings of $400 million.

The Detroit-based company said it had net income of $2.23 per share. Earnings, adjusted for non-recurring gains, came to $1.79 per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.57 per share.

The utility posted revenue of $3.24 billion in the period.

DTE Energy expects full-year earnings in the range of $5.15 to $5.46 per share.

DTE Energy shares have risen almost 6 percent since the beginning of the year, while the Standard & Poor's 500 index has risen nearly 7 percent. The stock has risen 21 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DTE at https://www.zacks.com/ap/DTE


Keywords: DTE Energy, Earnings Report