DTE Energy (NYSE:DTE) reported on Tuesday first quarter earnings that missed analysts' forecasts and revenue that fell short of expectations.
DTE Energy announced earnings per share of $1.66 on revenue of $3.33B. Analysts polled by anticipated EPS of $1.74 on revenue of $3.45B. That with comparison to EPS of $2.05 on revenue of $3.51B in the same period a year before. DTE Energy had reported EPS of $1.35 on revenue of $3.15B in the previous quarter. Analysts are expecting EPS of $1.08 and revenue of $2.97B in the upcoming quarter.
DTE Energy shares are down 18% from the beginning of the year , still down 21.63% from its 52 week high of $135.67 set on February 21. They are under-performing the S&P 500 which is down 11.75% year to date.
DTE Energy follows other major Utilities sector earnings this month
DTE Energy's report follows an earnings beat by NextEra Energy on April 22, who reported EPS of $2.38 on revenue of $4.61B, compared to forecasts EPS of $2.27 on revenue of $4.64B.
Kinder Morgan had missed expectations on April 22 with first quarter EPS of $0.24 on revenue of $3.11B, compared to forecast for EPS of $0.25 on revenue of $3.41B.
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