DTE Energy Company - DTE STOCK NEWS

DTE Energy (NYSE:DTE) reported first-quarter 2023 earnings of $445 million, or $2.16 per diluted share, compared to $394 million or $2.03 per share in 2022. However, operating earnings decreased to $274 million, or $1.33 per diluted share, down from $448 million, or $2.31 per share last year. The company invested over $900 million in electric and gas infrastructure, including $750 million for DTE Electric and $170 million for DTE Gas projects. Key developments included launching Michigan's largest wind park and a partnership with Toyota for renewable energy initiatives. The DTE Foundation granted $3 million to address food insecurity in Michigan, while gas rates were reduced for customers. The outlook for 2023 operating EPS remains at $6.09 - $6.40.

DTE Energy (NYSE: DTE) announced the operational launch of Michigan's largest wind park, Meridian Wind, representing a $300 million clean energy investment with nearly all construction performed by local workers. The 225-megawatt park, featuring 77 turbines, generates enough clean energy to power over 78,000 homes. This marks DTE's first self-developed renewable energy project since 2016, contributing to its portfolio of 20 wind parks and 33 solar parks, powering more than 750,000 homes in total. DTE plans to add approximately 1,000 megawatts of new renewable energy annually starting in 2025, aiming for an additional 15,000 megawatts by 2042 to power over 4 million homes. DTE's commitment to renewable energy aligns with its CleanVision plan and broader decarbonization goals, with a focus on economic growth and job creation in Michigan.

DTE Energy (NYSE:DTE) will announce its first quarter 2023 earnings on April 27, 2023, before the market opens. A conference call is scheduled for 8:00 a.m. ET on the same day to discuss the earnings results, which can be accessed via a live internet broadcast or by phone. The company serves 2.3 million electric customers and 1.3 million gas customers in Michigan. DTE is committed to substantial environmental goals, aiming for a 90% reduction in CO2 emissions and over 80% reduction in methane emissions by 2040, with a long-term target of net-zero carbon emissions by 2050.

For more details, investors can visit dteenergy.com/investors.

Toyota Motor North America (TMNA) has joined DTE Energy's MIGreenPower program, committing to source 100% of its electricity from renewable energy for its Michigan operations starting in 2026. This initiative is part of Toyota's broader goal to achieve carbon neutrality across all North American facilities by 2035. The agreement will lead to an environmental benefit equivalent to avoiding 29,000 metric tons of CO2 emissions. DTE's MIGreenPower program is one of the largest in the U.S., with over 800 businesses enrolled, and aims to meet rising demand with more than 2,000 MW of new clean energy projects by 2026. DTE Energy has set ambitious goals to reduce CO2 emissions by 90% and achieve net-zero carbon emissions by 2050.

DTE Energy Foundation has announced a historic $3 million grant to United Way for Southeastern Michigan, aiding families facing food insecurity in the region. This initiative comes as food assistance programs decline, with food insecurity increasing by over 33% recently. The grant will support the distribution of $100 Kroger food vouchers to 20,000 households in need. The urgency of this support is amplified by the expiration of COVID-19 related SNAP benefits and rising grocery prices. The DTE Foundation has contributed over $500,000 to combat food insecurity in the past year, reflecting its commitment to ensuring basic needs are met for vulnerable residents.

DTE Energy (NYSE: DTE) announced a significant investment of $2.5 billion in Michigan businesses in 2022, generating and sustaining over 11,000 jobs. The company has invested nearly $18 billion since 2010, creating approximately 65,000 jobs statewide. Local spending increased by 13.5% from 2021, with $894 million directed to diverse suppliers and $900 million to Detroit-based firms. DTE aims to enhance partnerships with Michigan suppliers, fostering local economic growth while improving service quality for customers.