DTE Energy Boosts FY19 Operating Earnings Outlook, Dividend - Quick Facts

(RTTNews) - While reporting financial results for the third quarter on Monday, DTE Energy (DTE) raised its operating earnings guidance for the full-year 2019 and also initiated operating earnings guidance outlook for the full-year 2020.

For fiscal 2019, DTE Energy now projects increased operating earnings in a range of $6.06 to $6.40 per share, up from the prior guidance range of $6.02 to $6.38 per share.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $6.24 per share for the year. Analysts' estimates typically exclude special items.

"We delivered strong third quarter financial results in our utility and non-utility businesses. We feel confident we are well-positioned to exceed original guidance for 2019," said Peter Oleksiak, DTE Energy senior vice president and CFO.

Looking ahead to fiscal 2020, DTE Energy now expects operating earnings in the range of $6.47 to $6.75 per share, while the Street is looking for earnings of $6.59 per share.

The DTE Energy Board of Directors also declared a seven percent higher dividend of $1.0125 per share on its common stock, payable January 15, 2020, to shareholders of record at the close of business December 16, 2019.