DTE Energy Company - DTE STOCK NEWS

DTE Energy (NYSE:DTE) will announce its first quarter 2022 earnings on April 28, 2022, before market open. A conference call to discuss the results will take place at 9 a.m. ET, which can be accessed via DTE Energy's website. DTE provides electric service to 2.3 million and natural gas service to 1.3 million customers in Michigan. The company is committed to reducing emissions by over 80% by 2040.

DTE Energy Foundation has awarded $1 million to The Nature Conservancy to enhance environmental initiatives in Michigan. This funding will support the Healthy Cities program in Detroit, wetland restoration at Erie Marsh, and whitefish research and restocking projects in various rivers. The partnership aims to integrate urban environmental programs, restore natural habitats, and foster the next generation of conservationists through a fellowship program. Funding will be utilized over the next three years, furthering ongoing efforts to protect and enhance Michigan’s natural resources.

DTE Energy has partnered with Lyft to incentivize drivers in Southeast Michigan to switch to electric vehicles (EVs). Drivers can receive up to $5,000 through DTE’s Charging Forward program, which provides a $2,000 rebate upon EV purchase and additional quarterly payments of $750 for completing 200 rides per quarter. This initiative aims to improve equitable access to EVs, particularly for drivers in low-income areas. DTE is heavily investing in EV infrastructure, committing over $1 billion annually to enhance electric reliability and support growing EV adoption.

DTE Energy's MIGreenPower program now has over 50,000 residential subscribers, matching Ypsilanti's population. The program adds thousands of megawatts of clean energy, driven by substantial demand from both residential and corporate customers. In 2021, DTE increased its renewable energy capacity by 40% through this initiative. Customers have enrolled 1.9 million megawatt hours of clean energy, avoiding 1.5 million tons of CO2 emissions. DTE plans additional solar projects, including a 20-megawatt array in Washtenaw County, to meet ongoing demand.

DTE Energy announced that Executive Chairman Gerry Anderson will retire on June 30, 2022, after nearly 30 years with the company. Current President and CEO Jerry Norcia will take over as Chairman effective May 5, 2022. Anderson expressed gratitude for his long tenure and highlighted Norcia's leadership. Under Anderson's tenure, DTE emphasized a clean energy transformation, committing to net zero carbon emissions. The company aims to enhance energy delivery while addressing climate concerns. DTE serves over 3.6 million customers in Michigan across various energy sectors.

All State Fastener (ASF) has committed to attributing 25% of its electricity use to renewable energy through DTE’s MIGreenPower program, planning to increase this to 100% in the near future. This initiative is equivalent to avoiding greenhouse gas emissions from driving a passenger car for 204,822 miles annually. ASF, a second-generation family-owned business, supplies various industries and has received recognition, like the General Motors Supplier of the Year Overdrive Award. DTE Energy aims to achieve net zero carbon emissions by 2050, increasing renewable energy generation significantly by 2025.

DTE Energy (NYSE:DTE) reported 2021 earnings of $907 million ($4.67 per diluted share), down from $1.4 billion ($7.08 per share) in 2020. Operating earnings were $1.2 billion ($5.99 per share), surpassing the original guidance midpoint of $5.51. Key achievements included a 40% increase in renewable energy generation, investments of $2.2 billion in Michigan businesses, and a commitment to cease coal use by 2028. DTE also raised its 2022 operating EPS guidance to $5.80-$6.00, reflecting a 7% growth from the previous year.

DTE Energy has initiated a competitive bidding process for new wind and solar projects in Michigan, totaling approximately 500 megawatts. This move is fueled by the growth of its MIGreenPower program, which has seen enrollment double over the past three years. Customers have committed to 1.8 million megawatt hours of clean energy, avoiding 1.4 million tons of CO2 emissions. DTE plans to add new projects by 2023 and aims to invest $3 billion in renewable energy infrastructure, significantly enhancing its clean energy generation by 2025.

DTE Energy declared a quarterly cash dividend of $0.885 per share, payable on April 15, 2022, to shareholders of record by March 21, 2022. This dividend maintains DTE's long-standing commitment to providing shareholder returns, continuing a history of over 100 years of dividend payments. CEO Jerry Norcia emphasized the importance of this dividend for stakeholders, including retirees and employees, as part of the company's return to the community.