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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.

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DTE Energy (NYSE:DTE) is set to announce its second quarter 2024 earnings before the market opens on Thursday, July 25, 2024. A conference call to discuss the earnings will be held the same day at 8:30 a.m. ET. Investors, media, and the public can listen to the live broadcast at dteenergy.com/investors. Dial-in numbers are available for U.S., Canadian, and international participants. The call's passcode is 4987588. An archive of the webcast will be accessible on DTE Energy's website.

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The DTE Energy Board of Directors has declared a quarterly cash dividend of $1.02 per share on its common stock. This dividend will be payable on October 15, 2024, to shareholders who are recorded by the close of business on September 16, 2024. This continues DTE Energy's long-standing tradition of paying cash dividends for over 100 years.

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DTE Energy will build a 220-megawatt battery energy storage center at the retired Trenton Channel coal plant site, making it the largest in the Great Lakes region when completed in 2026. The project supports Michigan's MI Healthy Climate Plan and DTE's CleanVision Integrated Resource Plan. The center will store electricity during excess generation and distribute it as needed, reducing grid strain and supporting DTE's renewable energy initiatives.

The transformation is helped by $140 million in tax incentives from the 2022 Inflation Reduction Act. The center can power nearly 40,000 homes and aligns with DTE's net zero carbon goals. It will also bring additional tax revenue to the Trenton community for local projects.

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DTE Energy has announced the expansion of its Energy Efficiency Academy to Grand Rapids, following a successful first year in Detroit. Participants in the program receive comprehensive training and job placement in electric, HVAC, insulation, and home performance trades. In its inaugural year, the Academy had a 94% certification pass rate and saw 75% of its graduates secure full-time employment with wages up to $30 per hour. The expansion aims to address the increasing demand for energy-efficient home repairs and build a sustainable local workforce. DTE’s initiative is in partnership with Walker-Miller Energy Services and reflects its commitment to energy equity and supporting underserved communities.

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DTE Energy's Board of Directors has declared a quarterly dividend of $1.02 per share on its common stock, maintaining a tradition of over 100 years of issuing cash dividends.

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DTE Energy reported investments of over $1 billion in electric and natural gas infrastructure in Q1 2024, aiming to invest more than $4 billion by 2024. The company earned the ENERGY STAR Partner of the Year award for energy efficiency, celebrated 175 years of service, expanded the MIGreenPower program, and was recognized as a Gallup Exceptional Workplace. Despite a decrease in earnings compared to 2023, operating earnings were $346 million. DTE Energy confirmed an operating EPS guidance of $6.54 - $6.83 for 2024.
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DTE Energy partners with the NFL and Visit Detroit to make the 2024 NFL Draft carbon neutral by offsetting carbon emissions through renewable energy programs. The initiative will reduce the event's carbon footprint equivalent to taking 310 cars off the road for a year or powering 260 homes annually.
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DTE Energy announces winners of annual Energy Efficiency Makeover contest with increased cash awards. The contest saw a record-breaking number of entries and aims to help small businesses reduce energy use and greenhouse gas emissions. Winners receive $5,000 each for energy efficiency improvements.
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DTE Energy (NYSE:DTE) to announce first quarter 2024 earnings on April 25, 2024. Conference call scheduled for 8:30 a.m. ET. Details on how investors and the public can listen to the call provided.
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DTE Energy (NYSE: DTE) receives the ENERGY STAR Partner of the Year award for the third consecutive year. The award recognizes DTE's commitment to energy-saving programs, promoting ENERGY STAR benefits, and reducing customers' carbon footprint. DTE's initiatives have resulted in significant energy and cost savings for customers, with programs generating over 200,000MWh of electricity and nearly 100,000MCF of natural gas savings in 2023.
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FAQ

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

24.02B
206.94M
0.32%
77.83%
1.77%
Hydroelectric Power Generation
Utilities
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United States of America
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