DTE Energy Company DTE reported first-quarter 2021 operating earnings per share (EPS) of $2.44, which surpassed the Zacks Consensus Estimate of $2.16 by 13%. The bottom line improved 47% from $1.66 in the year-ago quarter.
Highlights of the Release
Operating net income in the reported quarter totaled $473 million compared with $320 million in the year-ago quarter.
During the quarter, the company received regulatory approval for Phase 2 of its Electric Vehicle Charging Forward program. The utility also announced a voluntary greenhouse gas reduction program for DTE Gas customers.
DTE Electric: The segment’s operating earnings amounted to $1.07 per share, up from 49 cents in the prior-year quarter.
DTE Gas: The segment recorded operating earnings of 87 cents per share compared with 63 cents in the prior-year quarter.
Non-Utility Operations: Operating earnings in the segment totaled 67 cents per share compared with 60 cents in the year-ago quarter.
DTE Energy Company Price, Consensus and EPS Surprise
DTE Energy Company price-consensus-eps-surprise-chart | DTE Energy Company Quote
DTE Energy reaffirmed its 2021 operating earnings per share guidance in the range of $6.88-$7.26. The Zacks Consensus Estimate of $7.14 for the company’s full-year earnings lies above the midpoint of its guidance range.
DTE Energy carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Utility Releases
American Electric Power Co., Inc. AEP reported first-quarter 2021 adjusted earnings per share of $1.15, which missed the Zacks Consensus Estimate of $1.23 by 6.5%.
NextEra Energy, Inc. NEE reported first-quarter 2021 adjusted earnings of 67 cents per share, which beat the Zacks Consensus Estimate of 60 cents by 11.7%.
FirstEnergy Corporation FE delivered first-quarter 2021 operating earnings of 69 cents per share, which beat the Zacks Consensus Estimate of 68 cents by 1.5%.
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