STOCK TITAN

DTE Energy Company - DTE STOCK NEWS

Welcome to our dedicated page for DTE Energy Company news (Ticker: DTE), a resource for investors and traders seeking the latest updates and insights on DTE Energy Company stock.

DTE Energy Company (NYSE: DTE) is a Detroit-based diversified energy company committed to the development and management of energy-related businesses and services across the United States. DTE's primary subsidiaries, DTE Electric and DTE Gas, serve over three million customers in Michigan, providing essential electric and gas services. DTE Electric caters to about 2.3 million customers in Southeastern Michigan, including Detroit, while DTE Gas serves around 1.3 million customers statewide.

The company has a workforce of more than 10,400 employees who are dedicated to maintaining and improving the reliability, safety, and affordability of energy services. DTE's operations extend beyond utility services, leveraging its expertise through non-utility businesses including energy marketing and trading, renewable natural gas facilities, and on-site industrial energy projects.

Recently, DTE Energy announced its third quarter earnings for 2023, with reported earnings of $332 million. Despite facing challenges like severe weather conditions, the company continues to focus on strategic investments aimed at enhancing grid reliability and transitioning to cleaner energy. DTE has committed to reducing CO2 emissions by 90% and methane emissions by 80% by 2040, aspiring to achieve net-zero carbon emissions by 2050.

DTE's commitment to sustainability is evident through significant investments in infrastructure improvements. In 2023, the company invested a record $3.8 billion into its electric and natural gas infrastructure. This includes $3.1 billion by DTE Electric for generating cleaner energy and improving reliability, and $750 million by DTE Gas for upgrading main gas lines and other infrastructure enhancements.

Through its partnerships, such as with Motor City Electric, DTE continues to drive economic progress and community engagement. The company spent $2.7 billion with Michigan suppliers in 2023, creating over 12,000 jobs. DTE's dedication to local supplier diversity is reflected in its $988 million spend with diverse suppliers, fostering economic growth and stability in Michigan.

For investors and stakeholders, DTE Energy provides a transparent financial outlook, confirming its 2024 operating EPS guidance of $6.54 - $6.83. The company continues to prioritize investments in modernizing its electric system and meeting aggressive carbon reduction goals, ensuring long-term sustainable growth.

Rhea-AI Summary

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.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.43%
Tags
-
Rhea-AI Summary

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.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.71%
Tags
none
-
Rhea-AI Summary

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.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.94%
Tags
none
Rhea-AI Summary

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.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.7%
Tags
management dividends
-
Rhea-AI Summary

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.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.18%
Tags
none
-
Rhea-AI Summary

DTE Energy has reduced its Gas Cost Recovery (GCR) rate as of January 1, 2023, allowing natural gas customers in Michigan to save nearly $5 million on February heating bills. This reduction is attributed to the company's strategic purchase of natural gas, which shields customers from price spikes. DTE's gas purchasing strategy includes locking in prices up to three years in advance and storing gas during the summer for winter use. This proactive approach keeps DTE among Michigan's lowest-cost providers, with expectations for further price reductions in the coming months.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.18%
Tags
none
Rhea-AI Summary

DTE Energy (NYSE:DTE) will announce its full year 2022 earnings on February 23, 2023, before market opening. A conference call to discuss the results will be held at 9 a.m. ET the same day, available for live listening through the company’s website.

DTE Energy, based in Detroit, serves 2.3 million electric and 1.3 million natural gas customers in Michigan. The company aims for a 90% reduction in CO2 emissions and over 80% reduction in methane emissions by 2040, while aspiring for net zero carbon emissions by 2050. More details can be found on their website.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.53%
Tags
-
Rhea-AI Summary

DTE Energy (NYSE: DTE) has officially retired two coal-fired power plants, the Trenton Channel and St. Clair, advancing its net-zero emissions goals. Currently, one-third of DTE's electricity is sourced from carbon-free power, including renewables like wind and solar. The company is committed to retraining displaced workers and has plans to invest $9 billion into Michigan's economy over the next decade, supporting over 25,000 jobs. DTE aims to phase out coal by 2035 and significantly reduce carbon emissions by nearly 90% by 2040.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.84%
Tags
none
-
News
Rhea-AI Summary

DTE Energy (NYSE: DTE) has announced that its 2023 Annual Meeting of Common Stock Shareholders will take place on May 4, 2023. Shareholders of record as of March 7, 2023, are eligible to vote. Those wishing to propose business or nominate directors must notify the corporate secretary by January 5, 2023. DTE Energy is focused on the development of diversified energy services across the U.S., emphasizing a commitment to cleaner energy with plans to significantly reduce CO2 and methane emissions by 2040. The company aims for net zero carbon emissions by 2050.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.84%
Tags
none
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.72%
Tags
none

FAQ

What is the current stock price of DTE Energy Company (DTE)?

The current stock price of DTE Energy Company (DTE) is $120.18 as of December 20, 2024.

What is the market cap of DTE Energy Company (DTE)?

The market cap of DTE Energy Company (DTE) is approximately 24.5B.

What services does DTE Energy provide?

DTE Energy provides electric and gas services through its subsidiaries DTE Electric and DTE Gas, serving over three million customers in Michigan.

How many employees does DTE Energy have?

DTE Energy employs more than 10,400 individuals across its utility and non-utility businesses.

What are DTE's carbon reduction goals?

DTE aims to reduce CO2 emissions by 90% and methane emissions by 80% by 2040, with a goal of achieving net-zero carbon emissions by 2050.

How much did DTE Energy invest in infrastructure in 2023?

DTE Energy invested a record $3.8 billion in 2023, enhancing electric reliability and gas infrastructure.

What is the financial outlook for DTE Energy in 2024?

DTE Energy confirms its 2024 operating EPS guidance of $6.54 - $6.83.

Who are the primary customers of DTE Electric and DTE Gas?

DTE Electric serves 2.3 million customers in Southeastern Michigan, while DTE Gas serves 1.3 million customers across Michigan.

What non-utility businesses is DTE involved in?

DTE's non-utility businesses include energy marketing and trading, renewable natural gas facilities, and on-site industrial energy projects.

How does DTE support local suppliers?

DTE spent $2.7 billion with Michigan suppliers in 2023, including $988 million with diverse suppliers, fostering economic growth and stability in the state.

What is DTE Energy's approach to community engagement?

DTE engages with communities through volunteerism, education, employment initiatives, and partnerships with local businesses to drive economic progress.

How can investors stay informed about DTE Energy's financial performance?

Investors can access earnings announcements, presentation slides, and live internet broadcasts of conference calls on DTE's investor relations website.

DTE Energy Company

NYSE:DTE

DTE Rankings

DTE Stock Data

24.48B
206.39M
0.32%
77.65%
1.24%
Utilities - Regulated Electric
Electric Services
Link
United States of America
DETROIT