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DTE Energy misses 4Q profit forecasts

DETROIT (AP) _ DTE Energy Co. (DTE) on Thursday reported fourth-quarter earnings of $131 million.

The Detroit-based company said it had profit of 73 cents per share. Earnings, adjusted for non-recurring costs, came to 81 cents per share.

The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 84 cents per share.

The utility posted revenue of $2.87 billion in the period.

For the year, the company reported profit of $868 million, or $4.83 per share. Revenue was reported as $10.63 billion.

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

DTE Energy shares have risen slightly since the beginning of the year, while the Standard & Poor's 500 index has increased 2.5 percent. The stock has risen 15 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