Wall Street analysts forecast that DTE Energy (DTE) will report quarterly earnings of $1.98 per share in its upcoming release, pointing to a year-over-year decline of 5.7%. It is anticipated that revenues will amount to $4.67 billion, exhibiting an increase of 5.1% compared to the year-ago quarter.
The consensus EPS estimate for the quarter has undergone a downward revision of 4.5% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
In light of this perspective, let's dive into the average estimates of certain DTE Energy metrics that are commonly tracked and forecasted by Wall Street analysts.
The collective assessment of analysts points to an estimated 'Total Gas Operating Revenue' of $878.02 million. The estimate suggests a change of +0.2% year over year.
Based on the collective assessment of analysts, 'Operating Revenues- Non-Utility Operations- Energy Trading' should arrive at $2.12 billion. The estimate suggests a change of +4.6% year over year.
It is projected by analysts that the 'Operating Revenues- Non-Utility Operations- DTE Vantage' will reach $227.33 million. The estimate suggests a change of +20.9% year over year.
Analysts expect 'Operating Revenues- Utility Operations- Gas' to come in at $745.56 million. The estimate points to a change of -14.9% from the year-ago quarter.
Analysts' assessment points toward 'Total Electric Operating Revenues' reaching $1.70 billion. The estimate indicates a year-over-year change of +16.8%.
According to the collective judgment of analysts, 'Operating Revenues- Utility Operations- Electric' should come in at $1.75 billion. The estimate suggests a change of +20% year over year.
Analysts forecast 'Operating Revenues- Non-Utility Operations- Electric' to reach $8.29 million. The estimate suggests a change of +65.8% year over year.
The average prediction of analysts places 'Operating Revenues- Non-utility operations' at $2.03 billion. The estimate points to a change of -4.8% from the year-ago quarter.
The combined assessment of analysts suggests that 'Operating Revenues- Utility operations' will likely reach $2.44 billion. The estimate suggests a change of +5.9% year over year.
The consensus estimate for 'DTE Electric Deliveries - Retail and wholesale' stands at 9,717 . Compared to the current estimate, the company reported 9,652 in the same quarter of the previous year.
The consensus among analysts is that 'DTE Electric Sales - Interconnection sales' will reach 2875 megawatt hours. Compared to the present estimate, the company reported 2500 megawatt hours in the same quarter last year.
Analysts predict that the 'Total DTE Electric Sales' will reach 12554 megawatt hours. The estimate is in contrast to the year-ago figure of 12152 megawatt hours.
View all Key Company Metrics for DTE Energy here>>>DTE Energy shares have witnessed a change of +1.6% in the past month, in contrast to the Zacks S&P 500 composite's +12.2% move. With a Zacks Rank #3 (Hold), DTE is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
7 Best Stocks for the Next 30 Days
Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."
Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.9% per year. So be sure to give these hand picked 7 your immediate attention.
See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
DTE Energy Company (DTE): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).