DTE Energy (DTE) Misses Q3 Earnings, Revenue Increase Y/Y
Detroit, MI-based DTE Energy Company DTE is a holding company with subsidiaries engaged in regulated and unregulated energy businesses. The company’s largest regulated subsidiaries comprise DTE Electric Company and DTE Gas Company, and both of their subsidiaries.
DTE Energy follows a disciplined capital spending program to maintain and upgrade the reliability of its electric utility systems. The gradual recovery in Michigan’s economy, decline in unemployment rates and increasing housing permits bode well for the company going forward.
Estimate Trend & Surprise History
Coming to the earnings surprise, DTE Energy has surpassed the Zacks Consensus Estimate in three of the last four quarters, resulting in a positive average surprise of 11.45%.
Zacks Rank: Currently, DTE Energy has a Zacks Rank #3 (Hold) but that could change following its third quarter 2017 earnings report which has just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
We have highlighted some of the key details from the just-released announcement below:
Earnings: DTE Energy’s adjusted earnings per share came in at $1.48, which missed the Zacks Consensus Estimate of $1.53.
The company‘s third quarter reported earnings came in at $1.51 per share.
Revenue: The company reported revenues of $3.25 billion in third quarter, up from $2.93 billion.
DTE Energy Company Price and EPS Surprise
DTE Energy Company Price and EPS Surprise | DTE Energy Company Quote
Key Stats: The company raised its 2017 operating earnings per share guidance in the range of $5.38-$5.69 from the prior guidance of $5.26-$5.57.
Check back later for our full write up on this DTE Energy Company earnings report later!
Zacks' Hidden Trades
While we share many recommendations and ideas with the public, certain moves are hidden from everyone but selected members of our portfolio services. Would you like to peek behind the curtain today and view them?
Starting now, for the next month, I invite you to follow all Zacks' private buys and sells in real time from value to momentum...from stocks under $10 to ETF to option movers...from insider trades to companies that are about to report positive earnings surprises (we've called them with 80%+ accuracy). You can even look inside portfolios so exclusive that they are normally closed to new investors.
Click here for Zacks' secret trade>>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
DTE Energy Company (DTE) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
