DTE Energy Company Second Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component DTE Energy Company (NYSE:DTE) will unveil its latest earnings on Thursday, July 28, 2011. DTE Energy Co. provides electricity and natural gas (NYSE:UNG) sales, distribution and storage services throughout southeastern Michigan.

DTE Energy Company Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net income of 51 cents per share, a rise of 30.8% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from 48 cents. Between one and three months ago, the average estimate moved up, and has risen from 50 cents during the last month. For the year, analysts are projecting profit of $3.58 per share, a decline of 0.6% from last year.

Past Earnings Performance: The company fell short of estimates last quarter after topping forecasts the quarter prior. In the first quarter, it reported net income of $1.11 per share against a mean estimate of $1.21. Two quarters ago, it beat expectations by 3 cents with profit of 88 cents.

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Wall St. Revenue Expectations: On average, analysts predict $1.93 billion in revenue this quarter, a rise of 7.8% from the year ago quarter. Analysts are forecasting total revenue of $8.71 billion for the year, a rise of 1.8% from last year’s revenue of $8.56 billion.

Analyst Ratings: Analysts seem relatively indifferent about DTE Energy Company with eight of 11 analysts surveyed maintaining a hold rating.

Key Stats:

A year-over-year revenue decrease in the first quarter snaps a streak of three consecutive quarters of revenue increases. Revenue fell 0.9% in the first quarter and rose 3%in the fourth quarter of the last fiscal year, 9.1% in the third quarter of the last fiscal year and 6.2% in the second quarter of the last fiscal year.

The decrease in profit in the first quarter breaks a streak of three consecutive quarters of year-over-year profit increases. Net income fell 23.1% in the first quarter from the year earlier, while the figure rose 34.5% in the fourth quarter of the last fiscal year, 3.2% in the third quarter of the last fiscal year and 3.6% in the second quarter of the last fiscal year.

Competitors to Watch: CMS Energy Corporation (NYSE:CMS), Wisconsin Energy Corp. (NYSE:WEC), Integrys Energy Group, Inc. (NYSE:TEG), The Empire District Electric Co. (NYSE:EDE), NiSource Inc. (NYSE:NI), Dominion Resources, Inc. (NYSE:D), Black Hills Corporation (NYSE:BKH), Avista Corporation (NYSE:AVA), Ameren Corporation (NYSE:AEE), and CH Energy Group, Inc. (NYSE:CHG).

Stock Price Performance: During June 23, 2011 to July 22, 2011, the stock price had risen $2.54 (5.2%) from $48.69 to $51.23. The stock price saw one of its best stretches over the last year between June 23, 2011 and July 1, 2011 when shares rose for seven-straight days, rising 4.3% (+$2.11) over that span. It saw one of its worst periods between May 31, 2011 and June 10, 2011 when shares fell for nine-straight days, falling 4.4% (-$2.26) over that span. Shares are up $6.98 (+15.8%) year to date.

(Source: Xignite Financials)

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