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DTE Energy Company Reports Operating Results (10-Q)

April 27, 2012 | About:

DTE Energy Company (NYSE:DTE) filed Quarterly Report for the period ended 2012-03-31.

Dte Energy Co has a market cap of $9.43 billion; its shares were traded at around $56.4 with a P/E ratio of 14.9 and P/S ratio of 1.1. The dividend yield of Dte Energy Co stocks is 4.2%. Dte Energy Co had an annual average earning growth of 4.9% over the past 10 years.

Highlight of Business Operations:

Net income attributable to DTE Energy in the first quarter of 2012 was $156 million, or $0.91 per diluted share, compared to net income attributable to DTE Energy of $176 million, or $1.04 per diluted share, in the first quarter of 2011. The decrease in net income is primarily due to lower earnings at the Gas Utility and Energy Trading segments, partially offset by higher earnings at the Electric Utility and Gas Storage and Pipelines segments. The decreases at the Gas Utility and Energy Trading segments were primarily due to the unseasonably mild weather experienced in the 2012 first quarter.

Outlook — The Company has constructed and placed in service nine REF facilities including two facilities located at third party owned coal-fired power plants. The Company has sold a membership interest in two of the facilities located at the Detroit Edison sites. We continue to optimize these facilities by seeking tax investors for facilities operating at Detroit Edison and other utility sites. Additionally, we intend to relocate four underutilized facilities, located at Detroit Edison sites, to alternative coal-fired power plants which may provide increased production and emission reduction opportunities in 2012 and future years. The executed and planned sales of membership interests in the REF facilities represent, in substance, the sale of production tax credits. The proceeds from these sales are expected to be received by the Company on an installment basis, and the Company will recognize the related income as production tax credits are generated by the respective facilities.

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