DTE Energy tops Q2 estimates with $1.32 EPS as new investors pile in
What's the deal? United Capital Financial Advisors LLCDealroom has a profile for this one. Try Dealroom → has acquired a new stake in DTE EnergyDealroom has a profile for this one. Try Dealroom →, buying 8,557 shares of the Detroit-based utility worth about $1,304,000 during the second quarter, according to a filing with the Securities and Exchange Commission.
The numbers: DTE reported $1.32 earnings per share for the quarter ended July 28, beating the analyst consensus of $1.14 by $0.18. Revenue reached $6.74 billion, and the company posted a net margin of 8% and a return on equity of 12.19%.
What the company does: DTE Energy is an integrated energy company headquartered in Detroit, Michigan, combining regulated utility operations with non-utility businesses. It carries a market cap of $28.25 billion and a price-to-earnings ratio of 21.48.
Who else is buying? Several institutions added new positions. Teilinger Capital Ltd.Dealroom has a profile for this one. Try Dealroom → bought a stake worth roughly $30,955,000, while Convergence Investment PartnersDealroom has a profile for this one. Try Dealroom →, OMERS Administration CorpDealroom has a profile for this one. Try Dealroom →, and the Louisiana State Employees Retirement System took smaller positions. Institutional investors and hedge funds now own 76.06% of the stock.
Analyst view: Ratings are mixed. BMO Capital MarketsDealroom has a profile for this one. Try Dealroom → cut its target to $143.00 with a "market perform" rating, and Wall Street ZenDealroom has a profile for this one. Try Dealroom → downgraded the stock to "sell." Morgan StanleyDealroom has a profile for this one. Try Dealroom → kept an "overweight" rating at a $148.00 target. Across analysts, DTE holds an average "Moderate Buy" rating and a $157.00 price target.
The dividend: DTE declared a quarterly dividend of $1.165 per share, payable October 15 to shareholders of record on September 21. That equals a $4.66 annualised dividend and a 3.4% yield, with a payout ratio of 73.73%.
The signal: Fresh institutional buying and an earnings beat point to steady interest in regulated utilities, even as split analyst ratings show caution over DTE's valuation and debt load.
Read more: tickerreport.com
Image credit: davidwilson1949
