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DTE Energy's 4Q Earnings Outperform As Natural Gas Demand Picks Up

Added 02-21-21 06:04:02am EST - “DTE Energy posted better-than-expected earnings in the fourth quarter, as the diversified energy company saw an increase in customer demand for natural gas. The Detroit-based company's 4Q earnings rose 3% to $1.39 per share on a year-over-year…” - News.yahoo.com

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Posted By TheNewsCommenter: From News.yahoo.com: “DTE Energy’s 4Q Earnings Outperform As Natural Gas Demand Picks Up”. Below is an excerpt from the article.

DTE Energy posted better-than-expected earnings in the fourth quarter, as the diversified energy company saw an increase in customer demand for natural gas.

The Detroit-based company’s 4Q earnings rose 3% to $1.39 per share on a year-over-year basis and beat Street estimates of $1.24 per share.

DTE Energy’s (DTE) earnings from its natural gas utility segment came in at $84 million, up 31% year-over-year. The electric utility earnings amounted to $102 million, down 20.3%.

For 2021, the company reaffirmed its outlook and expects adjusted EPS to come in at a range of $6.88 to $7.26, versus the consensus of $7.16. (See DTE stock analysis on TipRanks)

DTE CFO David Ruud said, “We are well positioned for another solid year in 2021 as we continue to invest in reliability and infrastructure improvements for our customers.”

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