Zacks’ analyst wrote, “DTE Energy posted lackluster third quarter 2013 results with the top and bottom lines missing the Zacks Consensus Estimate. Though the top line surged year over year, the bottom line declined as operating expenses escalated 15.4%. Key drivers include its stable and growing utilities supported by a recovering Michigan economy and investments in pipeline and gathering systems. In addition, DTE Energy’s clean energy expansion efforts will bode well for its future growth objectives given the current favorable renewable climate in the U.S. Going forward, the growth momentum will be maintained by beneficial regulatory policies in Michigan, higher authorized rates for its regulated business, its strong balance sheet, and an industry-high dividend yield. However, weather variations, a challenging market for Energy Trading business and price volatilities are matters of concern. We have maintained our Neutral recommendation on the stock.”
DTE has been the subject of a number of other recent research reports. Analysts at Barclays raised their price target on shares of DTE Energy to $72.00 in a research note to investors on Tuesday, October 29th. They now have an equal weight rating on the stock. Separately, analysts at Wolfe Research upgraded shares of DTE Energy from a market perform rating to an outperform rating in a research note to investors on Monday, October 28th. Finally, analysts at Deutsche Bank reiterated a hold rating on shares of DTE Energy in a research note to investors on Monday, October 28th. They now have a $71.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $64.44.
Shares of DTE Energy (NYSE:DTE) traded down 0.86% during mid-day trading on Tuesday, hitting $66.06. The stock had a trading volume of 240,806 shares. DTE Energy has a 52 week low of $58.86 and a 52 week high of $73.32. The stock has a 50-day moving average of $68.4 and a 200-day moving average of $67.68. The company has a market cap of $11.679 billion and a price-to-earnings ratio of 18.75.
DTE Energy (NYSE:DTE) last posted its quarterly earnings results on Friday, October 25th. The company reported $1.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.24 by $0.11. The company had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the previous year, the company posted $1.31 earnings per share. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. On average, analysts predict that DTE Energy will post $4.03 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, January 15th. Stockholders of record on Monday, December 16th will be given a dividend of 0.655 per share. This represents a $2.62 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date of this dividend is Thursday, December 12th.
DTE Energy Company (NYSE:DTE) , is a diversified energy company.
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