Welcome to our dedicated page for Dte Energy Co news (Ticker: DTE), a resource for investors and traders seeking the latest updates and insights on Dte Energy Co stock.
DTE Energy Company (NYSE: DTE) is a Detroit-based diversified energy company whose news flow reflects its role as a major electric and natural gas utility in Michigan and an operator of energy-related businesses nationwide. The company’s operating units include an electric company serving approximately 2.3 million customers in Southeast Michigan and a natural gas company serving about 1.3 million customers across Michigan, along with energy businesses focused on custom energy solutions, renewable energy generation, and energy marketing and trading.
News about DTE Energy often covers earnings announcements, operating accomplishments and investment plans. For example, the company has reported on substantial annual and year-to-date investments in its electric and natural gas infrastructure, including modernization of the grid, deployment of smart devices and work to transition to cleaner power generation. Earnings releases and related conference call notices provide insight into segment performance, operating earnings, and management’s financial outlook.
DTE’s news also highlights customer and community initiatives. Recent releases describe donations to organizations such as The Heat and Warmth Fund (THAW), United Way for Southeastern Michigan and The Salvation Army Great Lakes Division to help Michigan residents pay energy bills and stay safe during extreme weather. The company regularly communicates about programs like the Low-Income Self-Sufficiency Plan (LSP), which offers eligible customers fixed monthly payments and forgiveness of past-due balances, as well as other protection programs for seniors, active military and customers facing medical emergencies.
Additional coverage includes community engagement events, such as the Hallelujah for Heat concert that supports THAW’s Week of Warmth, and partnerships like the DTE Energy Innovation Challenge with NextCycle Michigan, which seeks new ways to recycle or reuse materials such as wind turbine blades and wood chips. Governance and capital markets developments, including bylaw amendments, leadership changes, equity distribution agreements and debt offerings, are also announced through DTE’s news releases. Investors and observers following DTE’s news can track developments in its utility operations, financial strategy, customer assistance efforts and environmental and sustainability initiatives.
DTE Energy has announced a pro rata dividend distribution of DT Midstream shares to its shareholders. The record date for this distribution is June 18, 2021, and shares will be distributed on July 1, 2021. For every two shares of DTE owned, shareholders will receive one share of DT Midstream. Fractional shares will be aggregated and sold, with proceeds distributed in cash. This spin-off aims to position DTE as a leading utility, while DT Midstream focuses on growth opportunities in the midstream sector. U.S. shareholders typically won't recognize gain or loss from this distribution.
DTE Energy has officially retired the River Rouge coal-fired power plant, a facility operational since 1958. The closure, part of DTE’s transition to cleaner energy, reduces carbon emissions significantly. The plant, which once generated nearly 300 jobs, supplied its last megawatt on May 31, 2021. DTE aims to enhance its renewable energy portfolio, targeting enough energy from wind and solar to power 900,000 homes in two years. This moves DTE closer to its goal of carbon emission reduction by over 80% by 2040, enhancing its position as Michigan’s leading clean energy provider.
DTE Energy (NYSE:DTE) will conduct an analyst and investor call on June 9, 2021, at 9 a.m. ET to discuss the upcoming spin of DT Midstream. The call will be accessible via a live internet broadcast and a toll-free telephone dial-in number for U.S. and Canadian investors. An audio replay will be available post-call. DTE Energy is a diversified energy company based in Detroit, serving 2.2 million electric customers and 1.3 million gas customers in Michigan, committed to significant emission reductions by 2040.
DTE Energy has launched the Tree Trim Academy aimed at creating 200 high-paying jobs in Detroit over the next three years. In partnership with IBEW Local 17 and Focus: HOPE, this initiative will provide paid training and essential services such as childcare and transportation for job seekers. The Academy will train 60 graduates in its inaugural year, equipping them with skills for tree trimming jobs, which are crucial for maintaining energy reliability. Graduates can potentially earn over $100,000 annually, contributing to community employment and safety.
DTE Energy's MIGreenPower program welcomes Brose, a leading automotive supplier, as a participant.
Brose will purchase 11,445 megawatt hours of clean energy annually, avoiding 81,110 metric tons of CO2 emissions over a 10-year contract, equivalent to the carbon sequestered by 99,000 acres of U.S. forests in one year.
The clean energy commitment supports Brose's sustainability goals and will be sourced from new clean energy projects set to come online in early 2023.
DTE Energy has announced the enrollment of the Automotive Hall of Fame (AHF) in its MIGreenPower program, making it the first museum to join. AHF will now attribute 100% of its energy consumption to Michigan wind and solar projects. DTE is also assisting AHF in implementing energy-efficient measures following a complimentary energy audit. Since its launch, MIGreenPower has facilitated 1.8 million megawatt hours of clean energy. DTE Energy aims to achieve significant carbon emission reductions by 2040.
DTE Energy announced the full redemption of its 2016 Series B 5.375% Junior Subordinated Debentures on June 30, 2021. The redemption price will be 100% of the unpaid principal, plus accrued interest. Holders can redeem these debentures in minimum denominations of $25. For inquiries, holders should contact their broker or the paying agent, Bank of New York Mellon Trust Company. This announcement reflects DTE's ongoing commitment to managing its financial obligations effectively.
DTE Energy announced the pricing of DT Midstream's $1.1 billion offering of 4.125% Senior Notes due 2029 and $1 billion of 4.375% Senior Notes due 2031. Proceeds will be used for intercompany obligations and dividends to DTE Energy. The Notes will be privately placed under SEC regulations and have not been registered. The spin-off of DT Midstream, which is undergoing SEC review, aims to be tax-free for DTE Energy shareholders, who will receive a pro-rata dividend of DT Midstream stock.
DTE Energy announced plans for a spin-off of its non-utility natural gas pipeline business, DT Midstream. The new independent company will offer senior notes to repay short-term borrowings owed to DTE Energy. The offering will be conducted under Rule 144A and Regulation S, targeting qualified institutional buyers and non-U.S. persons. Successful completion of the spin-off is contingent on several approvals, with shareholders receiving pro-rata shares of DT Midstream. The transaction aims to be tax-free under U.S. federal income tax.
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