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What's in the Cards for DTE Energy (DTE) in Q4 Earnings?

DTE Energy Company DTE is slated to report fourth-quarter and full-year 2022 results on Feb 23, before the opening bell.

Its bottom line outpaced the Zacks Consensus Estimate in the trailing four quarters, the average surprise being 2.85%.

Factors to Note

In the fourth quarter, DTE Energy’s service territories witnessed variable weather pattern. While some parts of its territories witnessed below normal temperatures, others observed quite a high precipitation level. This, in turn, is likely to have had a moderate impact on the company’s Q4 top line.

DTE Energy Company Price and EPS Surprise

DTE Energy Company Price and EPS Surprise
DTE Energy Company Price and EPS Surprise

DTE Energy Company price-eps-surprise | DTE Energy Company Quote

The Zacks Consensus Estimate for fourth-quarter revenues is pegged at $4.07 billion, indicating a 12.4% decline from the year-ago quarter.

The aforementioned revenue projections may have adversely impacted the company’s Q4 bottom line. Nevertheless, factors like accelerated deferred tax amortization as well as DTE’s efforts to reduce interest expenses and operation and maintenance costs might have benefited the company’s fourth-quarter bottom line.

The Zacks Consensus Estimate for fourth-quarter earnings is pegged at $1.64 per share, indicating an improvement of 16.2% from the prior-year reported figure.

What the Zacks Model Unveils

Our proven model predicts an earnings beat for DTE Energy this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat.

Earnings ESP: The company’s Earnings ESP is +1.24%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: DTE currently carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.

Other Stocks to Consider

Here are two other Utility players you may want to consider as these have the right combination of elements to post an earnings beat this season:

Sempra Energy SRE has an Earnings ESP of +1.01% and a Zacks Rank #3. The Zacks Consensus Estimate for Sempra Energy’s fourth-quarter sales and earnings is pegged at $3.81 billion and $2.06 per share, respectively.

Sempra Energy boasts a long-term earnings growth rate of 5.7%. SRE has a four-quarter earnings surprise of 6.88%.

Edison International EIX has an Earnings ESP of +0.25% and a Zacks Rank #3. The Zacks Consensus Estimate for EIX’s fourth-quarter sales and earnings is pegged at $3.63 billion and $1.08 per share, respectively.

Edison International boasts a long-term earnings growth rate of 3%. EIX has a four-quarter earnings surprise of 14.88%.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

A Recent Utility Release

Public Service Enterprise Group Incorporated PEG, or PSEG, reported fourth-quarter 2022 adjusted operating earnings of 64 cents per share, which beat the Zacks Consensus Estimate of 63 cents by 1.6%.

Its operating revenues came in at $3,139 million in the fourth quarter, which beat the Zacks Consensus Estimate of $2,179.4 million by 44%. The top line also increased 2.7% from the year-ago quarter’s $3,056 million.

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

Sempra Energy (SRE) : Free Stock Analysis Report

Edison International (EIX) : Free Stock Analysis Report

Public Service Enterprise Group Incorporated (PEG) : Free Stock Analysis Report

DTE Energy Company (DTE) : Free Stock Analysis Report

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Zacks Investment Research

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