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Why Is DTE Energy (DTE) Down 0.7% Since Last Earnings Report?

Zacks Equity Research
·2-min read

It has been about a month since the last earnings report for DTE Energy (DTE). Shares have lost about 0.7% in that time frame, underperforming the S&P 500.

Will the recent negative trend continue leading up to its next earnings release, or is DTE Energy due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.

DTE Energy Earnings Miss Estimates in Q1,Down Y/Y

DTE Energy Company reported first-quarter 2020 operating earnings per share (EPS) of $1.66, which missed the Zacks Consensus Estimate of $1.78 by 6.7%. The bottom line fell 19% from $2.05 in the year-ago quarter.

Highlights of the Release

Operating net income in the reported quarter totaled $320 million compared with $374 million in the year-ago quarter.

The company is providing assistance to low-income and vulnerable customers. It has ranked among top 10 energy companies in the United States for energy efficiency programs.

Segmental Details

Utility Operations

DTE Electric:  The segment’s operating earnings amounted to 49 cents per share, down from 81 cents in the prior-year quarter.

DTE Gas: The segment recorded operating earnings of 63 cents per share compared with 83 cents in the prior-year quarter.

Non-Utility Operations: Operating earnings in the segment totaled 60 cents per share compared with 44 cents in the year-ago quarter.

2020 Guidance

DTE Energy reaffirmed its 2020 operating earnings per share guidance in the range of $6.47-$6.75. The Zacks Consensus Estimate of $6.48 for the company’s full-year earnings lies below the midpoint of its guidance.

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How Have Estimates Been Moving Since Then?

It turns out, fresh estimates have trended upward during the past month.

VGM Scores

Currently, DTE Energy has an average Growth Score of C, however its Momentum Score is doing a bit better with a B. Following the exact same course, the stock was allocated a grade of B on the value side, putting it in the second quintile for this investment strategy.

Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.

Outlook

Estimates have been trending upward for the stock, and the magnitude of these revisions looks promising. Notably, DTE Energy has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.


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