DTE Energy Company Third Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component DTE Energy Company (NYSE:DTE) will unveil its latest earnings on Friday, October 28, 2011. DTE Energy provides electricity and natural gas 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 profit of $1.01 per share, a rise of 5.2% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from $1.02. Between one and three months ago, the average estimate moved down. It has risen from 99 cents during the last month. Analysts are projecting profit to rise by 0% versus last year to $3.60.

Past Earnings Performance: The company topped estimates last quarter after missing forecasts the quarter prior. In the second quarter, it reported net income of 65 cents per share against a mean estimate of profit of 51 cents per share. In the first quarter, it missed forecasts by 10 cents.

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Wall St. Revenue Expectations: Analysts are projecting no change in revenue from the year-earlier quarter to $2.14 billion.

Analyst Ratings: Analysts seem relatively indifferent about DTE Energy Company with seven of 10 analysts surveyed maintaining a hold rating.

A Look Back: In the second quarter, profit rose more than twofold to $202 million ($1.19 a share) from $86 million (51 cents a share) the year earlier, exceeding analyst expectations. Revenue rose 13.2% to $2.03 billion from $1.79 billion.

Key Stats:

The increase in profit in the second quarter came after net income fell in the previous quarter. In the first quarter, net income fell 23.1%.

Revenue rose in the second quarter after seeing a drop the quarter before. In the first quarter, revenue fell 0.9%.

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 August 26, 2011 to October 24, 2011, the stock price had risen $3.19 (6.5%) from $48.78 to $51.97. 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% (+$2.09) 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% (-$2.22) over that span. Shares are up $8.24 (+18.8%) year to date.

(Source: Xignite Financials)

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