DTE changes
Pick any two versions below to diff them.
- Price
- $129.73 → $137.53(+6.0%)
- Discount category
- Far below intrinsic value → Well below intrinsic value
- About
- DTE Energy is a utility holding company based in Detroit, Michigan. DTE Electric supplies electricity in southeast Michigan, and DTE Gas supplies natural gas across Michigan. The company also has DTE Vantage, which owns renewable natural gas and other energy projects, and an energy trading business. added: In November 2026, DTE agreed to sell DTE Vantage for about $2.97 billion, with closing expected in mid-2027. The Michigan Public Service Commission (MPSC) sets its rates. DTE plans to retire all its coal plants by 2032 and to add solar, wind, battery storage and natural gas plants. It has signed contracts to serve a 1.4 gigawatt Oracle data center, which is under construction, and a 1 gigawatt Google data center, whose contracts the MPSC approved with conditions in October 2026.
- Risks
- The MPSC sets DTE's rates and returns. In February 2026, it approved less than half of the electric increase that DTE asked for. Another weak order can reduce earnings growth. The growth plan needs $500 million to $600 million of new equity each year from 2026 to 2028, plus more junior subordinated debt. A lower share price makes each issue more dilutive. Much of the extra growth depends on data centers. The MPSC approved the Google contracts in October 2026, but service starts only in December 2027. A delay of the first data center past 2027 can change DTE's plan to pause rate cases. DTE Vantage earnings depend on renewable natural gas tax credits and on the prices of environmental attributes. Changes in tax law or prices can lower these removed: earnings. added: earnings until DTE completes the sale of DTE Vantage, which it expects in mid-2027.
- Recent events
- added: Nov 5, 2026: DTE said that on November 1, 2026 it agreed to sell DTE Vantage, its renewable energy and custom energy solutions business, for about $2.97 billion, subject to adjustments. The buyer is owned by investors advised by J.P. Morgan Asset Management's Global Infrastructure group and has no financing condition. The sale needs regulatory approvals, including from FERC, and DTE expects it to close in mid-2027. If the buyer ends the deal in some cases, it pays DTE a fee of about $149 million. Oct 1, 2026: The MPSC approved, with conditions, DTE Electric's special contracts to serve Google's data center in Van Buren Township. The contracts run for 20 years, with minimum monthly billing of 80% of contract capacity and a termination payment of at least 15 years of minimum charges. Google pays for up to 1,600 megawatts of renewable energy and 480 megawatts of battery storage that DTE Electric develops. Service is expected to start in December 2027 and reach maximum load by December 2028. Sep 28, 2026: DTE gave investors a business update. It said that construction of the 1.4 gigawatt Oracle data center has started and that it submitted the 1 gigawatt Google data center contract to the MPSC. It targets one more data center agreement by the end of 2026 and plans equity issues of $500 million to $600 million each year from 2026 to 2028. Jul 28, 2026: DTE reported Q2 2026 results. Reported earnings were $1.35 per share and operating earnings were $1.32 per share, compared with $1.36 a year earlier. DTE confirmed its 2026 operating EPS guidance of $7.59 to $7.73. Jun 18, 2026: DTE sold $1.0 billion of 6.200% junior subordinated debentures due 2058. May 27, 2026: DTE agreed with LG Energy Solution Vertech to build battery storage systems in Michigan for eight projects, with 1.5 gigawatts of capacity and an investment of $1.6 billion. Apr 28, 2026: DTE Electric filed a rate case with the MPSC that asks for a $474 million increase in base rates and a return on equity of 10.25%. DTE expects a final order in February 2027. If the first data center comes online by the end of 2027, DTE plans not to file another electric rate case until at least 2028. Feb 19, 2026: The MPSC approved an annual revenue increase of $242 million for DTE Electric from March 5, 2026, with a return on equity of 9.9%. DTE had asked for $574 million.