DTE Energy: 4Q Earnings Snapshot
DETROIT (AP) _ DTE Energy Co. (DTE) on Friday reported fourth-quarter net income of $275 million.
On a per-share basis, the Detroit-based company said it had net income of $1.42. Earnings, adjusted for non-recurring gains, came to $1.39 per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.25 per share.
For the year, the company reported profit of $1.37 billion, or $7.08 per share.
DTE Energy expects full-year earnings in the range of $6.88 to $7.26 per share.
DTE Energy shares have fallen 1% since the beginning of the year, while the Standard & Poor’s 500 index has increased 4%. The stock has dropped 11% in the last 12 months.