Why Is MGIC (MTG) Down 3.1% Since Last Earnings Report?
DTE Energy DTE 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.
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.
The company reaffirmed its 2018 operating earnings per share guidance in the range of $5.57-$5.99.
DTE Energy carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
FirstEnergy Corporation FE 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 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 is scheduled to report first-quarter 2018 results on Apr 26. The Zacks Consensus Estimate for the quarter is 51 cents per share.
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