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 (NYSE: DTE) announced a planned spin-off of its non-utility Midstream business, expected to be completed by mid-2021. This move aims to transform DTE Energy into a pure-play regulated utility, while positioning Midstream as an independent public company. Shareholders will receive a pro-rata dividend of Midstream shares, tax-free for U.S. federal income tax purposes. DTE is increasing its utility capex plan by $2 billion to $17 billion and has raised its 2020 guidance and 2021 dividend by 7%. Both companies are committed to their Michigan communities.
DTE Energy reported strong third-quarter 2020 earnings of $476 million, or $2.46 per diluted share, compared to $319 million, or $1.73 per diluted share in 2019. Operating earnings rose to $504 million, up from $351 million in the previous year. The Board declared a dividend of $1.085 per share, payable January 15, 2021, marking a 7% increase. DTE also filed an updated voluntary renewables plan, committing to additional solar energy projects, and ranked first in customer satisfaction for DTE Gas. The 2020 operating EPS guidance was raised to $6.90 - $7.10.
DTE Energy (NYSE: DTE) will announce its third quarter 2020 earnings on October 27, 2020, before market opening. A conference call will take place at 9 a.m. ET on the same day to discuss the earnings results. Investors and the public can access a live internet broadcast of the call through the DTE Energy website. The company serves 2.2 million electric and 1.3 million natural gas customers in Michigan, with initiatives to reduce carbon emissions significantly.
DTE Energy Foundation has pledged $1 million in grants to support 45 domestic violence shelters in Michigan, funded by the Department of Health and Human Services. This funding aims to alleviate financial strains exacerbated by COVID-19, which has significantly increased demand for shelter services. The grants will be distributed based on bed count, assisting shelters in addressing critical expenses such as cleaning and sanitization. This initiative highlights the foundation's commitment to improving the lives of domestic violence survivors in Michigan.
DTE Energy has announced a commitment of $13 million to assist Michigan customers impacted by the COVID-19 pandemic. This sum includes both donations to human service agencies and direct financial support to those struggling with energy bills, aiming to support nearly 40,000 vulnerable households. DTE CEO Jerry Norcia emphasized the company's dedication to helping customers maintain essential energy services. The initiative includes customized financial assistance plans and ongoing savings opportunities for customers during these challenging times.
DTE Energy (NYSE: DTE) announced the appointment of Lynette Dowler as vice president of Public Affairs and president of the DTE Foundation, effective October 16, 2020. Dowler succeeds Nancy Moody, who is retiring after 32 years. Having a wealth of experience across various leadership roles, Dowler has been part of DTE for 37 years. Moody leaves a legacy of significant community engagement and policy advocacy. The transition aims to reinforce DTE's commitment to community growth and corporate citizenship.
DTE Energy (NYSE: DTE) has priced its offering of $200 million in 4.375% Junior Subordinated Debentures due October 15, 2080. The proceeds will be utilized to fully redeem the 2012 Series C 5.250% Junior Subordinated Debentures, effective October 22, 2020. The redemption will occur at 100% of the principal amount along with accrued interest, and will be available in minimum denominations of $25. DTE Energy operates energy services in Michigan, serving 2.2 million electric and 1.3 million natural gas customers.
DTE Energy announced on September 22, 2020, its intention to offer new junior subordinated debentures maturing on October 15, 2080. The company plans to use the proceeds to redeem the outstanding $200 million of its 2012 Series C 5.250% junior subordinated debentures due 2062. The offering will be managed by BofA Securities, Morgan Stanley, and Wells Fargo Securities, under an effective shelf registration with the SEC. This announcement is not a redemption notice and does not constitute an offer to sell these securities.
DTE Energy and Consumers Energy have announced a collaborative effort to create a robust network of fast electric vehicle (EV) charging stations across the Midwest by 2022. This initiative aims to address the shortage of fast chargers compared to gas stations, potentially driving up EV adoption. The project will feature partnerships with several energy companies, including Ameren Missouri and Evergy, and is contingent on regulatory approval. Currently, DTE has eight operational fast chargers and plans to expand its network significantly by the end of 2022, aligning with the anticipated launch of 130 new EV models.
DTE Energy has launched a 27-minute virtual field trip to its renewable energy sites in Michigan, promoting education on clean energy's role in combating climate change. Aimed at middle and junior high school students, the video features insights into wind turbines and solar panels, along with career opportunities in the energy sector. An accompanying educators’ guide enhances the learning experience. DTE plans to triple its renewable energy generation by 2030, reinforcing its position as Michigan's largest renewable energy producer.
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