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 reported a 25% improvement in power reliability from 2019 to 2020, with fewer outages during typical weather conditions. The company is investing nearly $1 billion annually to enhance the grid. Efforts included trimming over 5,500 miles of trees and replacing almost 13,000 utility poles. Key improvements involved building three new substations and upgrading more than 209 miles of circuits. Enhanced infrastructure aims to support DTE's goal of achieving net zero carbon emissions by 2050.
DTE Energy has made significant strides in spinning off its midstream business, DT Midstream, expected to close by mid-2021, pending regulatory and board approvals. DT Midstream will operate as a publicly traded company focused on natural gas storage and pipelines, aiming to unlock shareholder value. The spin-off is structured as a tax-free dividend for DTE shareholders. Post-separation, DTE Energy will concentrate on regulated electric and natural gas utilities, while DT Midstream targets net-zero emissions by 2050. A leadership team for DT Midstream has been appointed.
DTE Energy reported strong financial results for 2020, achieving earnings of $1.4 billion ($7.08 per diluted share), up from $1.2 billion ($6.31 per diluted share) in 2019. Operating earnings also increased to $1.4 billion ($7.19 per diluted share), exceeding the company's guidance midpoint. The company maintained flat customer rates for 2021 and invested $2.2 billion in Michigan businesses. Notably, DTE ranked highest in Midwest customer satisfaction and set a 2050 net zero carbon emissions goal. The company reaffirms its 2021 operating EPS guidance of $6.88 - $7.26.
DTE Energy is offering rebates of up to $1,200 per unit for the purchase of high-efficiency, ultra-low temperature freezers, crucial for storing COVID-19 vaccines. This initiative supports pharmacies, medical offices, and hospitals during the pandemic. Customers can benefit from instant rebates based on freezer size, with a maximum eligibility of $50,000 in rebates per location. This program emphasizes DTE's commitment to helping businesses manage health and economic impacts caused by COVID-19.
DTE Energy is set to announce its full-year earnings for 2020 on February 19, 2021, before market opening. The conference call will start at 9 a.m. ET, allowing investors and the public to access the live broadcast on the company's website. DTE Energy, a diversified energy company based in Detroit, serves over 2.2 million electric customers and 1.3 million gas customers in Michigan. The company aims for significant reductions in carbon emissions by 2040 and has set a net zero carbon goal by 2050.
DTE has joined The Valuable 500, a global coalition promoting disability inclusion. This alliance emphasizes DTE's commitment to empowering individuals with disabilities in the workforce. The company plans to enhance its partnerships with programs like Project Search to assist young adults with disabilities in gaining vital skills and employment. DTE aims to be a leader in creating inclusive job opportunities while championing systemic barriers in employment for people with disabilities. Currently, only 4% of companies are actively working on disability inclusion, highlighting DTE's progressive stance.
DTE Energy has declared a cash dividend of $1.085 per share on its common stock, payable on April 15, 2021, to shareholders of record as of March 15, 2021. This dividend marks over 100 years of consistent dividend issuance, emphasizing the company's strong commitment to shareholder returns. DTE Energy serves 2.2 million electric customers and 1.3 million gas customers in Michigan. The company is also pursuing significant carbon reduction goals, aiming to decrease emissions by over 80% by 2040.
DTE Energy has launched the CleanVision Natural Gas Balance program, the first of its kind in the U.S. to combine carbon offsets and renewable natural gas. This initiative aims to help customers offset 25% to 100% of their natural gas emissions by preserving Michigan forests and converting landfill and wastewater by-products into usable gas. The program is part of DTE's commitment to achieving net zero carbon emissions by 2050 and is projected to reduce annual greenhouse gas emissions by over 6 million metric tons. Madcap Coffee is the first customer to join this program.
The DTE Energy Board of Directors has announced the date for its 2021 Annual Meeting of Common Stock Shareholders, set for May 20, 2021. Shareholders of record by March 23, 2021, will be eligible to vote. Interested shareholders must submit proposals or nominations to the corporate secretary by January 7, 2021. DTE Energy is a diversified energy company servicing over 3.5 million customers across Michigan, aiming for an 80% reduction in CO2 and methane emissions by 2040 and net zero emissions by 2050.
Elliott Management Corporation expressed strong support for DTE Energy's plan to spin off its DTE Midstream business. Senior Portfolio Manager Jeff Rosenbaum praised CEO Gerardo Norcia for the decision, emphasizing that it aims to unlock significant shareholder value. The spin-off is expected to highlight DTE Electric and DTE Gas as leading U.S. regulated utilities, while DTE Midstream will focus on attractive natural gas basins, promising best-in-class earnings growth. Elliott believes both entities will achieve superior results as independent companies.
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