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 announced the planned spin-off of its non-utility natural gas pipeline, storage, and gathering business into a new independent entity, DT Midstream. DT Midstream has initiated syndication of a new senior secured credit facility with a total capacity of up to $1.75 billion, comprising a $1 billion term loan and a $750 million revolving credit facility. Proceeds will repay intercompany obligations and pay a dividend to DTE Energy. The spin-off is subject to approval by DTE Energy's Board and regulatory bodies, expected to be tax-free for shareholders.
DTE Energy (NYSE: DTE) has announced the formation of the Board of Directors for DT Midstream, a new independent company to be established from its non-utility natural gas pipeline, storage, and gathering business. This spin-off is projected to be completed in July 2021. The board will consist of seven members, including five independent directors, with Robert Skaggs, Jr. as executive chair and David Slater as president and CEO. A Form 10 registration statement has been filed with the SEC, and the separation is expected to be tax-free for shareholders. Shareholders will receive a pro-rata dividend of DT Midstream shares.
DTE Energy has declared a $1.085 per share dividend on its common stock, continuing a tradition of over 100 years of cash dividends. The dividend is payable on July 15, 2021, to shareholders of record as of June 21, 2021. DTE's president, Jerry Norcia, emphasized the importance of this dividend for shareholders, reflecting the company's commitment to delivering consistent returns. The company continues to enhance its portfolio in energy-related services, aiming for significant reductions in carbon emissions by 2040 and net-zero emissions by 2050.
DTE Energy declared a cash dividend of $1.085 per share on May 6, 2021, continuing its century-long practice of issuing dividends. This payment will be made on July 15, 2021, to shareholders of record as of June 30, 2021. DTE Energy's president, Jerry Norcia, emphasized the importance of dividends for shareholders and the company's dedication to providing consistent above-average returns. The company also underlines its commitment to sustainability, with goals to significantly reduce emissions by 2040.
Copper Hop Brewing Co., based in St. Clair Shores, Michigan, has enrolled in DTE Energy's MIGreenPower program, committing to attribute 100% of its energy use to renewable sources from Michigan's wind and solar projects. This makes Copper Hop the first brewery to join the program, aimed at achieving sustainability goals. Since its opening shortly before the pandemic, the brewery has thrived, adapting its space and enhancing environmental initiatives, including recycling water and donating spent grain. DTE supports over 300 businesses in creating a cleaner energy future.
DTE Energy has launched a new solar array at the Ford Research & Engineering Center, featuring 2,159 panels. This array, equipped with a battery storage system, will produce 1,127 megawatt hours of clean energy, equivalent to avoiding 880 tons of CO2 emissions. DTE plans to double its renewable energy capacity by 2023, aiming for net-zero carbon emissions by 2050. This marks the third collaboration with Ford, which is also part of DTE's MIGreenPower program, emphasizing both companies' commitment to sustainability.
DTE Energy has launched the DTE Smart Charge program, collaborating with EV manufacturers like General Motors and Ford to optimize EV charging in Michigan. This initiative aims to balance grid demand while supporting DTE's goal of achieving net zero carbon emissions by 2050. The program invites 1,000 volunteer EV owners to participate and earn up to $100 in gift cards. Participants can opt out during peak usage events, helping improve grid reliability as EV adoption increases. The program operates using the Open Vehicle Grid Integrated Platform for effective energy management.
DTE Energy reported a strong first quarter in 2021, earning $397 million, or $2.05 per diluted share, up from $340 million, or $1.76 per diluted share in 2020. Operating earnings increased to $473 million, or $2.44 per diluted share. DTE was recognized as a Gallup Great Workplace for the ninth consecutive year and issued a $1 billion green bond for renewable energy investments. The company also reaffirmed its 2021 operating EPS guidance of $6.88 - $7.26, with plans for a midstream spin-off expected mid-year, aiming to enhance shareholder value.
Bedrock, Detroit's largest real estate developer, has partnered with DTE Energy to reduce carbon emissions by acquiring approximately 22 million kWh of Michigan-made clean energy annually through DTE's MIGreenPower program. Starting in 2023, this initiative is expected to offset around 15,500 metric tons of carbon dioxide per year. Bedrock aims to enhance sustainability in its projects, including the Book Tower renovation, and contribute to the International 2030 District's goals of significant carbon footprint reduction. This commitment aligns with Bedrock's broader sustainability strategy.
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