DTE Energy’s Q3 non-GAAP EPS beats estimates by $0.09

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DTE ($NYSE:DTE) Energy is a leading energy company in Michigan, providing electric and gas service to more than 3 million customers. This was driven by strong performance in the company’s electric and gas businesses. Looking ahead, DTE Energy is committed to providing safe, reliable, and affordable energy to its customers.

Earnings

DTE Energy is an American electric and gas utility company headquartered in Detroit, Michigan. It operates in Michigan and Ohio. DTE Energy’s Q3 non-GAAP EPS beats estimates by $0.09. In its earning report of FY2022 Q2 as of June 30, DTE ENERGY earned 17.9B USD in total revenue, earned 0.8B USD in net income.

Compared to previous year, 19.3% increase in total revenue, 11.1% decrease in net income. DTE ENERGY’s total revenue reached from 11.4B USD to 17.9B USD in the last 3 years.

Market Price

On Thursday, DTE Energy‘s stock opened at $109.8 and closed at $109.3. At the time of writing, media coverage surrounding the company’s Q3 non-GAAP EPS results was mostly positive. This was driven by strong performance in the company’s electric and gas businesses. Looking ahead, DTE Energy reaffirmed its full-year guidance.

Overall, analysts are bullish on DTE Energy’s prospects. The company is a leader in the utilities sector and is well-positioned to benefit from the continued growth of the U.S. economy.

VI Analysis

The company serves nearly 3 million customers in Michigan and is the state’s largest investor-owned utility. DTE Energy‘s financials reflect its long-term potential, with strong revenue growth and a solid balance sheet. However, the company faces some risks, including regulatory uncertainty and competition from cheaper energy sources. The VI App has detected 1 risk warning in the company’s income statement. Despite this, the overall risk rating for DTE Energy is medium, indicating that it is a relatively safe investment.

VI Peers

The company operates through two segments: Electric and Gas. The Electric segment generates, purchases, distributes, and sells electricity to residential, commercial, and industrial customers in southeastern Michigan. The Gas segment purchases, transports, stores, distributes, and sells natural gas to residential, commercial, and industrial customers in Michigan. As of December 31, 2018, DTE Energy Co operated 10 coal-fired generating stations with a total capacity of 6,879 megawatts; 29 natural gas-fired generating stations with a total capacity of 4,473 megawatts; 71 wind turbines with a total capacity of 132 megawatts; 7 solar arrays with a total capacity of 35 megawatts; and 1 nuclear power plant with a total capacity of 1,944 megawatts. The company’s competitors include CMS Energy Corp, OGE Energy Corp, and Xcel Energy Inc.

– CMS Energy Corp ($NYSE:CMS)

CMS Energy Corporation is an American utility company based in Jackson, Michigan, with its principal subsidiary, Consumers Energy, serving Michigan. CMS Energy also owns and operates two power generation businesses, one in Michigan and one in Hawaii.

The company has a market capitalization of $16.81 billion as of 2022 and a return on equity of 12.15%. CMS Energy is engaged in the generation, transmission, and distribution of electricity and natural gas. The company also owns and operates power generation facilities in Michigan and Hawaii.

– OGE Energy Corp ($NYSE:OGE)

Duke Energy Corp is a publicly traded electric power holding company in the United States. The company has a market capitalization of $73.9 billion as of March 2021 and a return on equity of 18.7%. Duke Energy is the largest electric power holding company in the United States, with regulated utilities in six states and a commercial businesses in 47 countries. The company’s regulated utility operations serve approximately 7.7 million electric customers in the Carolinas, Florida, Indiana, Ohio and Kentucky. Duke Energy’s commercial businesses include wholesale energy trading and marketing, natural gas pipelines, storage and gathering, and international energy assets.

– Xcel Energy Inc ($NASDAQ:XEL)

Xcel Energy Inc. is a publicly traded company that provides electricity and natural gas services in the United States and Canada. The company has a market capitalization of $35.77 billion as of 2022 and a return on equity of 9.4%. The company operates in eight states and serves more than 3.6 million customers. Xcel Energy is the largest provider of electricity in Colorado and the second-largest provider of electricity in Minnesota. The company also provides natural gas service in Colorado, Minnesota, and Wisconsin.

Summary

DTE Energy is a diversified energy company headquartered in Detroit, Michigan. It is involved in the development and operation of natural gas and electricity businesses in the United States. The company has a strong presence in the United States, and it is involved in a variety of businesses that should continue to grow in the future.