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DTE Energy: Stock’s Negative Reaction After It Beat Estimate


Oct. 29 2015, Updated 9:51 a.m. ET

DTE Energy’s 3Q15 Earnings

DTE Energy (DTE) reported its 3Q15 earnings on October 23, 2015. DTE Energy reported adjusted EPS (earnings per share) of $1.40 in 3Q15, higher than Wall Street analysts’ expectation of $1.25. Earnings for 3Q15 were also higher by 37.3% when compared to 3Q14 earnings of $1.02.

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Market reaction to DTE Energy’s 3Q15 earnings

DTE Energy’s 3Q15 earnings release surprised markets with higher-than-expected earnings per share though it missed the revenue estimate by 3.1%. Markets reacted negatively to the earnings, with stock prices falling 1.8% on the day earnings were announced. The Utilities Select Sector SPDR Fund (XLU), a key ETF in the utilities sector, fell by 1.8% on the same day. DTE Energy has a weight of 2.7% in the XLU ETF. On a year-to-date basis until October 22, DTE Energy fell 2.5% against a 4.3% fall for the XLU ETF.

NextEra Energy (NEE), Duke Energy (DUK), and Dominion Resources (D) are competitors in the utilities sector and are set to release their earnings in the next two weeks. We’ll see how these stocks will react to their respective earnings release.

About DTE Energy

DTE Energy is a diversified utility company involved in the development and management of energy businesses and services in the United States. It’s headquartered in Detroit, Michigan. It currently has a presence in 22 states in the United States.

It operates through five segments:

  • Electric (DTE Energy Electric Company)
  • Gas (DTE Gas Company)
  • Gas Storage and Pipelines
  • Power and Industrial Projects
  • Energy Trading

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