TECO Energy (TE) Releases Earnings Results, Beats Expectations By $0.04 EPS

TECO Energy (TE) reported quarterly earnings results on Thursday, May-5-2016. The company said it had a profit of $0.31 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.04. Analysts had a consensus of $0.27. The company posted revenue of $659.50 million in the period, compared to analysts expectations of $627.63 million. The company’s revenue was down -4.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.28 EPS.

TECO Energy opened for trading at $27.73 and hit $27.76 on the upside on Wednesday, eventually ending the session at $27.75, with a gain of 0.07% or 0.02 points. The heightened volatility saw the trading volume jump to 29,36,789 shares. Company has a market cap of $6,535 M.

In a different news, on Mar 3, 2016, Sherrill W Hudson (director) sold 50,000 shares at $27.45 per share price. According to the SEC, on Feb 17, 2016, John B Ramil (President and CEO) sold 117,286 shares at $27.20 per share price. On Feb 10, 2016, Phil L Jr Barringer (SR. VP-Corp. Svcs. & CHRO) sold 6,650 shares at $27.25 per share price, according to the Form-4 filing with the securities and exchange commission.

TECO Energy Inc. (TECO Energy) is a holding company for regulated utilities and other businesses. TECO Energy owns no operating assets but holds all of the common stock of TEC and its subsidiary TECO Diversified. Tampa Electric Company the principal subsidiary of TECO Energy Inc. has two business segments. Its Tampa Electric division provides retail electric service to more than 706000 customers in West Central Florida with a net winter system generating capacity of 4668 Megawatts. Peoples Gas System the gas division of Tampa Electric Company is engaged in the purchase distribution and sale of natural gas for approximately 513000 residential commercial industrial customers in the State of New Mexico. New Mexico Gas Company Inc. a wholly owned subsidiary of New Mexico Gas Intermediate Inc. is engaged in the purchase distribution and sale of natural gas for residential commercial and industrial customers in New Mexico.

TECO Energy

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