DTE Energy Company - DTE STOCK NEWS

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.

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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.

DTE Energy reported a successful 2022, achieving earnings of $1.1 billion or $5.52 per diluted share, up from $907 million or $4.67 in 2021. Operating earnings also increased to $6.10 per share compared to $5.99 in the previous year. Key achievements included the retirement of two coal plants, the launch of the CleanVision plan with a $9 billion investment, and significant growth in the voluntary renewable energy program. DTE's operating EPS guidance for 2023 is estimated at $6.09 - $6.40. The company continued to enhance customer satisfaction and invest in Michigan's economy.

DTE Vantage has launched its eighth renewable natural gas (RNG) project in Wisconsin, converting methane from dairy manure into sustainable RNG. The facility, in partnership with Matsche Farms, which manages 10,000 cows, will produce enough RNG to fuel about 1,600 vehicles annually. This initiative contributes to reducing greenhouse gas emissions by repurposing methane that would otherwise escape into the atmosphere. DTE Vantage collaborates with U.S. Gain to transport the RNG to California, enhancing the state's cleaner transportation fuel supply. DTE Vantage operates 13 facilities across the U.S., emphasizing its position as a major RNG producer in the Midwest.

DTE Energy announced a significant investment of over $1 billion in its electric grid in 2022, enhancing power reliability for customers. The company reported a 21% reduction in power interruptions and a 40% decrease in average outage duration compared to 2021. Focused work in specific areas yielded 40-70% reliability improvements. Key initiatives included trimming over 6,500 miles of trees and inspecting 8,500 miles of circuits, particularly in counties like Wayne, Oakland, Macomb, and Washtenaw. DTE remains committed to ongoing infrastructure upgrades to provide reliable services.

DTE Energy has declared a cash dividend of $0.9525 per share on its common stock, payable on April 15, 2023, to shareholders recorded by March 20, 2023. This announcement continues the company's tradition of over 100 years of dividend payments. DTE Energy is focused on cleaner energy initiatives, including significant renewable energy purchases and coal plant retirements. The company aims to reduce CO2 emissions by 90% and methane emissions by 80% by 2040, striving for net zero carbon emissions by 2050.

DTE Energy has partnered with Walker-Miller Energy Services to create the Energy Efficiency Academy, aiming to quadruple participants in 2023. This initiative addresses the demand for energy-efficient home repairs and builds a skilled workforce in Detroit. Initially launched in Fall 2022 with 10 participants, the Academy now offers an eight-week paid program that includes classroom and field training, enabling participants to earn certifications. The program responds to an urgent need for skilled trades, with 2.2 million hires needed nationwide by 2024. DTE aims to improve housing conditions while supporting the local economy.