Dte Energy Co Stock Price, News & Analysis

DTE Energy has announced a significant $7 billion investment over five years to modernize its electric grid in southeast Michigan. Addressing 21st-century demands, the initiative aims to enhance resilience against severe weather, support electrification, and improve service reliability for its 2.3 million customers. Key elements include self-healing circuits, infrastructure upgrades, buried power lines, and increased capacity for electric vehicles. This investment aligns with DTE's long-term strategy to create a cleaner, more reliable energy grid.

DTE Energy has appointed Joi Harris as president of DTE Gas, which serves 1.3 million customers. Harris, a 30-year veteran of the company, has held various leadership roles, including senior vice president of Major Enterprise Projects. Under her leadership, DTE Gas aims to enhance safety and reliability while upgrading over 3,000 miles of infrastructure. Harris succeeds Matt Paul, who will lead DTE’s distribution operations group in DTE Electric. DTE continues its commitment to net zero greenhouse gas emissions by 2050.

DTE Energy (NYSE: DTE) announced key executive promotions aimed at enhancing leadership efficiency. Renee Tomina is now senior vice president of Major Enterprise Projects, overseeing DTE's $3 billion annual capital investment portfolio. Cedric Flowers is promoted to vice president of DTE Gas, succeeding Tomina. Marco Bruzzano advances to senior vice president of Corporate Strategy and Regulatory Affairs, while Jaspreet Singh takes on the role of vice president of Corporate Services. These changes are intended to support DTE's mission of becoming the best-operated energy company in the U.S.

DTE Energy (NYSE:DTE) reported Q3 2021 earnings of $25 million, or $0.13 per share, down from $476 million, or $2.46 per share in 2020. Operating earnings were $334 million, or $1.72 per share, compared to $415 million in 2020. The Board declared a $0.885 per share dividend, payable on Jan. 15, 2022, marking a 7% increase from the previous dividend. The company announced a $70 million investment in infrastructure to improve reliability and plans to cease coal use at Belle River by 2028. DTE revised its 2021 operating EPS guidance to $5.70 - $5.98, indicating a positive outlook.

DTE Energy announced it will cease all coal use at its Belle River Power Plant by December 2028, two years ahead of schedule, supporting its goal of 50% carbon emissions reduction. This move aligns with EPA regulations and positions DTE closer to achieving net zero carbon emissions. The company has already retired four coal-fired facilities and plans to retire two more in 2022. DTE will file an updated Clean Vision Plan with the Michigan Public Service Commission in fall 2022 to outline future energy strategies, aiming for cleaner and more affordable energy.

DTE Energy announced the launch of its Charging Forward eFleets program on October 12, 2021, aimed at assisting Michigan businesses in transitioning to electric fleets. The $13.4 million initiative offers rebates for installing EV chargers—up to $2,500 for Level 2 ports and up to $70,000 for DC Fast Chargers. The program includes advisory services that provide a seven-step roadmap for fleet electrification, helping businesses achieve operational savings and sustainability.

DTE Energy (NYSE:DTE) will announce its third quarter 2021 earnings on October 27, 2021, before the market opens. A conference call to discuss the earnings will be held at 9 a.m. ET on the same day. Investors and the public can access the call via a live internet broadcast or by dialing in using the provided numbers. DTE Energy serves 2.2 million electric and 1.3 million gas customers in Michigan and plans to reduce emissions significantly by 2040, aiming for net zero emissions by 2050.

DTE Energy has been named a finalist for the 22nd Annual Citizens Awards by the U.S. Chamber of Commerce Foundation, recognizing its Summer Youth Internship Program. This initiative aims to provide transformative work experiences for interns facing employment barriers in Detroit. DTE's President and CEO, Jerry Norcia, emphasized the program's focus on skill development and career pathways for youth. The winners will be announced at the upcoming Corporate Citizenship Conference on November 17-18, 2021.

DTE Energy Foundation announced grants totaling over $400,000 to seven West Michigan organizations to enhance access to jobs, education, and basic needs for disadvantaged communities. The funding aims to create a positive impact on workforce development and food security. Notable recipients include Autism Alliance of Michigan ($125,000), Kids’ Food Basket ($100,000), and Feeding America West Michigan ($50,000). The foundation emphasizes the importance of educational pathways and job readiness in addressing inequities in Michigan.