Dte Energy Co Stock Price, News & Analysis

DTE Energy (NYSE:DTE) has announced it will release its full year 2024 earnings report before market opening on Thursday, February 13, 2025. The company will host a conference call at 9:00 a.m. ET on the same day to discuss the results.

Investors and interested parties can access the live broadcast via the company's investor relations website at dteenergy.com/investors. For those joining by phone, toll-free dial-in numbers are available for U.S. and Canada (888-510-2008), while international callers can use (646-960-0306) or Canada toll (289-514-5035) with passcode 4987588. The webcast will be archived on DTE Energy's investor website for future reference.

DTE Energy reported significant improvements in electric reliability for 2024, with customers experiencing a 70% reduction in power outage duration compared to 2023. This improvement stems from a $1.5 billion investment in grid infrastructure and less extreme weather conditions.

The company's progress follows a four-point plan focusing on smart grid transition, infrastructure updates, grid rebuilding, and tree management. Key achievements include:

• Installation of 450+ new circuit automation devices, preventing nearly 10,000 outages and 4 million minutes of power interruption
• Construction progress on 12 new substations
• Upgrades along 850+ miles of electric lines and replacement of 3,400 power poles
• Tree management across 4,300 miles of infrastructure

DTE Energy invested $3.3 billion with Michigan suppliers in 2024, creating and sustaining approximately 14,000 jobs across the state. The company has invested over $24 billion with Michigan-based suppliers since 2010, supporting 92,000 jobs statewide.

Regional investments in 2024 included: $2.53 billion in Southeast Michigan and Metro Detroit (11,000 jobs), $138 million in West Michigan (550 jobs), $20 million in Northern Michigan (90 jobs), $286 million in South Michigan (1,200 jobs), $176 million in Central Michigan (700 jobs), $137 million in the Thumb Region (600 jobs), and $31 million in the Upper Peninsula (140 jobs).

The company also achieved nearly $1 billion in spending with certified diverse suppliers in 2024, advancing its 2020 diversity goal.

DTE Energy has invested $63 million in its Energy Efficiency Assistance (EEA) program for 2024, providing free energy-efficient home upgrades to income-qualified households. The program has benefited over 25,000 families this year, offering improvements such as insulation, furnace replacements, and ENERGY STAR® appliances.

The initiative targets households earning up to 200% of the federal poverty level and those enrolled in public assistance programs. In Detroit, where nearly 40,000 low-income households face inadequate housing conditions, DTE has implemented a 'Neighborhood Approach,' allocating $2 million to the North Coyle neighborhood. Nearly 3,000 HVAC upgrades have been installed across the service territory in 2024.

DTE Energy has announced that its 2025 Annual Meeting of Common Stock Shareholders will take place on Thursday, May 8. Shareholders who own stock as of the record date of March 11, 2025, will be eligible to participate and vote at the meeting. Those interested in proposing business or nominating directors from the floor must submit their notice and required information to the corporate secretary by January 2, 2025.

DTE Energy has announced its Board of Directors has declared a quarterly dividend of $1.09 per share on its common stock. The dividend will be payable on January 15, 2025, to shareholders of record as of the close of business on December 16, 2024. This declaration continues the company's remarkable track record of over 100 years of consistent cash dividend payments to shareholders.

The DTE Energy Foundation has awarded $310,000 to 12 non-profit organizations across Michigan through its first Community Transformation Grant Program. The initiative, which initially planned to distribute $150,000, was doubled due to overwhelming need and project submissions. The grants support organizations focusing on community transformation, including housing services, youth empowerment, park restoration, education, and entrepreneurship programs.

The selected organizations span various locations including Detroit, Grand Rapids, Escanaba, Ypsilanti, and Lapeer, supporting diverse initiatives from emergency shelter services to youth art programs. The Foundation's Community Transformation pillar prioritizes placemaking, positive family development, and community-driven solutions.

DTE Energy (NYSE:DTE) announced a $100 million investment to construct three new electric substations in Northville Township ($57M), Pontiac ($17M), and Shelby Township ($39M). This initiative is part of DTE's commitment to reduce power outage frequency by 30% and cut restoration time in half by 2029. The substations will be equipped with smart grid technology to monitor and automatically adjust power supply. The projects include installing new poles, power lines, and electric equipment. Additionally, DTE is rebuilding power delivery infrastructure across its service territory with a dozen substations in various stages of completion in multiple townships.

DTE Energy announced a reduction in electric bills by passing approximately $300 million in fuel and transportation cost savings to customers through 2025. The reduction, effective November 1, 2024, will lower residential customers' bills by about $5 per month through the Power Supply Cost Recovery mechanism (PSCR). The company is committed to keeping operating costs low while building the electric grid of the future and plans to eliminate coal use by 2032. DTE aims to reduce power outages by 30% and cut outage duration in half by 2029.