DTE Energy Co (DTE) Releases Earnings Results, Beats Expectations By $0.09 EPS

DTE Energy Co (DTE) reported quarterly earnings results on Tuesday, Jul-26-2016. The company said it had a profit of $0.98 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.09. Analysts had a consensus of $0.89. The company posted revenue of $2262.00 million in the period, compared to analysts expectations of $2303.39 million. The company’s revenue was down -.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.76 EPS.

DTE Energy Co closed down -0.52 points or -0.53% at $97.53 with 4,27,748 shares getting traded on Wednesday. Post opening the session at $98, the shares hit an intraday low of $97.35 and an intraday high of $98.29 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

Investors should note that on Jun 23, 2016, DTE Energy Co announced a cash dividend of $0.7700. The company’s management has announced Sep 15, 2016 as the ex-dividend date and fixed the record date on Sep 19, 2016. The payable date has been fixed on Oct 15, 2016.

In a different news, on Jun 6, 2016, Lisa A. Muschong (Corporate Secretary) sold 1,075 shares at $92.79 per share price. According to the SEC, on May 13, 2016, David E Meador (Vice Chairman and CAO) sold 6,700 shares at $90.14 per share price. On May 4, 2016, Gerard M Anderson (Chairman and CEO) sold 20,000 shares at $89.75 per share price, according to the Form-4 filing with the securities and exchange commission.

DTE Energy Company (DTE) is an energy company. The Company’s other businesses are involved in natural gas pipelines gathering and storage power and industrial projects and energy marketing and trading operations. Its segments include Electric Gas Gas Storage and Pipelines Power and Industrial Projects Energy Trading and Corporate and Other. Its utility operations consist primarily of DTE Electric and DTE Gas. The Electric segment consists of DTE Electric which is engaged in the generation purchase distribution and sale of electricity to approximately 2.1 million customers in southeastern Michigan. The Gas segment consists of DTE Gas which is engaged in the purchase storage transportation distribution and sale of natural gas to approximately 1.2 million residential commercial and industrial customers throughout Michigan and the sale of gas storage and transportation capacity. Its Corporate and Other segment includes various holding company activities.

DTE Energy Co

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