DTE Energy (DTE) Q4 Earnings Beat Estimates, Increase Y/Y
Zacks Investment Research | Feb 04, 2020 09:40PM ET
DTE Energy Company (NYSE:DTE) reported fourth-quarter 2019 operating earnings per share of $1.35, which surpassed the Zacks Consensus Estimate of $1.29 by 4.7%. The bottom line improved 48.4% from 91 cents in the year-ago quarter.
In 2019, the company generated operating earnings per share of $6.30, which surpassed the Zacks Consensus Estimate of $6.22 by 1.3%. The full-year bottom line also improved 2.1% from $6.17 in the prior year.
Highlights of the Release
Operating net income in the reported quarter totaled $258 million compared with $165 million in the year-ago quarter.
In 2019, the company invested $2.1 billion with Michigan-based companies, exceeding its commitment to the Pure Michigan Business Connect local supplier initiative.
More than 10,000 residential customers have enrolled in DTE Energy’s MIGreenPower, and some of Southeast Michigan’s largest commercial customers have already signed up for 400 MW of voluntary wind energy, which is equivalent to powering over 135,000 homes with clean energy.
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