Detroit, MI-based DTE Energy CompanyDTE 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 company assured to spend $5 billion with Michigan-based companies over the next five years as part of the state's Pure Michigan Business Connect Program.
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
Investors should note that the third quarter Zacks Consensus Estimate for earnings of $1.22 per share has increased 1.7% over the last 7 days.
Coming to the earnings surprise, DTE Energy has surpassed the Zacks Consensus Estimate in two out of last four quarters, resulting in a positive average surprise of 1.40%.
Zacks Rank: Currently, DTE Energy has a Zacks Rank #3 (Hold) but that could change following its third quarter 2015 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:
Earnings: DTE Energy surpassed earnings estimate. Adjusted earnings per share came in at $1.40, beating the Zacks Consensus Estimate of $1.22 by 14.8%.
Revenue: Revenues of $2,598 million lagged the Zacks Consensus Estimate of $2,617 million by 0.7%.
Key Stats: The company raised its 2015 operating earnings per share guidance to $4.65 to $4.91 from $4.48 to $4.72.
Check back later for our full write up on this DTE Energy Company earnings report later!
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DTE ENERGY CO (DTE): Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
