DTE Energy Company
- Open
- 152.56
- Day high
- 152.83
- Day low
- 151.81
- Prev close
- 152.37
- Volume
- 106K
- Mkt cap
- $31.7B
- P/E (TTM)
- 25.0
- EPS (TTM)
- $6.11
- P/B
- 2.6
- P/S
- 1.9
- Yield
- 3.01%
- Per share
- $4.58
- ▼Insiders net selling -$144K over the last 3 months (0 open-market buys, 1 sale)
- 🏛Institutions mixed (13F)
DTE Energy Company (DTE) is a Utilities company listed on NYSE. The stock is up 15% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 1 sale (SEC Form 4). Drillr has 1 published research article covering DTE.
DTE Energy Company (DTE) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 4 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
DTE earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 30, 2026 | $1.98 | $1.95 | -1.5% | $5.1B | +17.6% |
| Feb 17, 2026 | $1.54 | $1.65 | +7.1% | $4.2B | +25.1% |
| Oct 30, 2025 | $2.11 | $2.25 | +6.6% | $3.5B | +8.9% |
| Jul 29, 2025 | $1.40 | $1.36 | -2.9% | $3.4B | +23.3% |
| May 1, 2025 | $2.02 | $2.10 | +4.0% | $4.4B | +30.1% |
| Feb 13, 2025 | $1.44 | $1.51 | +4.9% | $3.4B | +3.7% |
| Oct 24, 2024 | $1.88 | $2.22 | +18.1% | $2.9B | -2.6% |
| Jul 25, 2024 | $1.22 | $1.43 | +17.2% | $2.9B | +18.4% |
| Apr 25, 2024 | $1.71 | $1.67 | -2.3% | $3.2B | +5.3% |
| Feb 8, 2024 | $1.96 | $1.97 | +0.5% | $3.4B | -25.7% |
| Nov 1, 2023 | $1.63 | $1.44 | -11.7% | $2.9B | -36.2% |
| Jul 27, 2023 | $0.93 | $0.99 | +6.5% | $2.7B | -47.0% |
DTE insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| May 15, 2026 | Muschong Lisa A.officer: VP, Corp Sec & Chief of Staff | Sell | 1,000 | $143.72 |
| May 11, 2026 | Akins Nicholas Kdirector | Grant | 1,230 | — |
| May 11, 2026 | SKAGGS ROBERT C JRdirector | Grant | 1,230 | — |
| May 11, 2026 | MCCLURE CHARLES Gdirector | Grant | 1,230 | — |
| May 11, 2026 | MCGOVERN GAIL Jdirector | Grant | 1,230 | — |
| May 11, 2026 | BRANDON DAVIDdirector | Grant | 1,230 | — |
| May 11, 2026 | Byers Deborah Ldirector | Grant | 1,230 | — |
| May 11, 2026 | MCGOVERN GAIL Jdirector | Option | 1,219 | — |
| May 11, 2026 | Williams Valeriedirector | Grant | 1,230 | — |
| May 11, 2026 | MURRAY MARK Adirector | Grant | 1,230 | — |
| May 11, 2026 | Thomas David Adirector | Grant | 1,230 | — |
| May 11, 2026 | Santos Cassandradirector | Grant | 1,230 | — |
| May 11, 2026 | TORGOW GARYdirector | Grant | 1,230 | — |
| May 6, 2026 | Williams Valeriedirector | Option | 1,425 | — |
| May 6, 2026 | Thomas David Adirector | Option | 1,425 | — |
Source: DTE SEC Form 4 filings, latest May 15, 2026. For informational purposes only — not investment advice.
See the full DTE insider & 13F page →DTE Energy Company company profile
Overview
DTE Energy Company (NYSE:DTE) is a Detroit-based energy utility company founded in 1903 that serves southeastern Michigan with electricity and natural gas services. The company has evolved from a regional electric utility into a diversified energy provider serving approximately 2.3 million electric customers and 1.3 million natural gas customers across Michigan. DTE operates as a regulated utility with additional business segments including power and industrial projects, and energy trading operations.
Business
DTE Energy operates in the regulated utility sector, providing essential energy services to residential, commercial, and industrial customers in Michigan. The utility industry is characterized by government regulation of rates, service territories, and investment returns, creating stable but regulated revenue streams. The company's core business is divided into four main segments: DTE Electric (approximately 70-75% of total earnings) generates, distributes, and sells electricity to 2.3 million customers in southeastern Michigan. This segment operates a diverse generation portfolio including fossil-fuel plants, nuclear facilities, hydroelectric pumped storage, wind farms, and solar installations. The electric utility maintains extensive infrastructure including 698 distribution substations, 449,800 line transformers, and thousands of miles of transmission and distribution lines. DTE Gas (approximately 15-20% of total earnings) purchases, stores, transports, and distributes natural gas to 1.3 million customers throughout Michigan. This segment operates 20,000 miles of distribution mains, over 1.3 million service pipelines and active meters, plus 2,000 miles of transmission pipelines. The gas utility also provides storage and transportation capacity services. DTE Vantage (less than 10% of total earnings) focuses on non-utility energy projects including renewable natural gas (RNG) facilities, custom energy solutions for large industrial customers, and metallurgical coke production. This segment serves steel, pulp and paper, and other industrial customers with specialized energy products and services. Energy Trading (less than 5% of total earnings) engages in power and natural gas marketing, structured transactions, and optimization of contracted pipeline transportation and storage positions.
Revenue model
DTE Energy generates revenue primarily through regulated utility rate structures approved by the Michigan Public Service Commission. For the electric and gas utilities, the company earns returns on invested capital through rate base mechanisms, where regulators allow recovery of operating costs plus a reasonable return on capital investments. The DTE Electric segment earns revenue through electric rates charged to customers based on kilowatt-hour consumption and demand charges. Revenue is influenced by weather patterns (heating and cooling demand), economic activity levels, energy efficiency programs, and regulatory rate adjustments. The company files periodic rate cases to recover infrastructure investments and maintain authorized returns on equity. The DTE Gas segment generates revenue through natural gas commodity sales and distribution charges. Gas utilities typically operate under purchased gas adjustment mechanisms that allow recovery of commodity costs, while distribution margins are set through rate cases. DTE Vantage operates under market-based contracts for industrial energy services, renewable natural gas projects, and specialty products like metallurgical coke. This segment benefits from renewable energy tax credits and environmental incentives. Factors that increase profitability include: economic growth driving energy demand, successful infrastructure investment recovery through rate cases, renewable energy tax credits and incentives, potential data center load growth, and operational efficiency improvements. Margin pressures come from: commodity price volatility, increased capital investment requirements for grid modernization and clean energy transition, regulatory lag between investments and rate recovery, competition from distributed energy resources, and economic downturns reducing industrial demand.
Competitive moat
DTE Energy possesses a strong regulatory moat through its monopoly utility franchises in southeastern Michigan. As the exclusive provider of electric and gas service in its territories, the company faces no direct competition for core utility services. This natural monopoly status is protected by regulatory barriers to entry and the massive capital requirements needed to duplicate utility infrastructure. The company's moat is reinforced by several factors: essential service nature of electricity and natural gas creates inelastic demand; extensive physical infrastructure (generation plants, transmission lines, distribution systems) represents billions in sunk costs that competitors cannot easily replicate; regulatory framework provides predictable returns on invested capital; and long-term customer relationships with high switching costs. However, the moat faces some erosion pressures from distributed energy resources like rooftop solar and battery storage, which can reduce customer demand for grid electricity. Electric vehicles and heat pumps could increase demand but also enable more customer energy independence. Additionally, Michigan's competitive retail energy markets for large customers create some revenue risk. The regulatory nature of the business provides stability but limits pricing flexibility and requires ongoing regulatory approval for major investments. While competition is minimal for core utility services, the company must continuously justify its investment plans and rate requests to regulators who balance utility returns with customer affordability concerns.
Risks & safety
DTE Energy demonstrates a moderate margin of safety with stable utility cash flows but high capital intensity: • Liquidity and Solvency: Low cash position ($24-33 million) but strong operating cash flow ($3.7 billion annually). Debt-to-equity ratio of approximately 2.0x is typical for utilities but represents high leverage. Current ratio below 1.0 indicates working capital management challenges but is common in utility sector. • Valuation Metrics: Trading at 16-17x P/E ratio, which is reasonable for a utility. EV/EBITDA of 11-12x is within normal utility ranges. Graham number suggests fair valuation around current price levels. • Capital Requirements: Negative free cash flow (-$824 million in 2024) due to massive capital investment program ($30 billion over 5 years). This is typical for growing utilities but creates ongoing financing needs. • Credit Quality: Maintains investment-grade credit ratings with target FFO-to-debt ratio of 15-16%. Regulated utility cash flows provide predictable coverage. • Dividend Coverage: Utility earnings provide stable dividend support, though high capital needs limit payout growth potential.
Recent development
Over the past few years, DTE Energy has undergone significant strategic transformation focused on clean energy transition and grid modernization. The company has committed to ending coal use by 2032 and achieving net-zero carbon emissions by 2050, requiring massive infrastructure investments. Key strategic initiatives include a $30 billion capital investment plan over five years (increased from $25 billion), with 95% focused on utility infrastructure. The company is building 800 megawatts of renewable energy annually and has developed over 2,300 megawatts of renewable generation. Major grid reliability improvements target 30% reduction in power outages and 50% reduction in outage duration by 2029. DTE has expanded its MIGreenPower voluntary renewable energy program to over 2,500 megawatts with nearly 100,000 residential subscribers and major corporate customers like Ford and General Motors. The program allows customers to purchase renewable energy at premium rates. A significant new opportunity is data center load growth, with the company securing non-binding agreements for 2.1 gigawatts of potential data center projects. This represents substantial load growth potential of 4-5% annually, supported by Michigan legislation providing sales tax exemptions for data centers. The company has also focused on regulatory modernization, working with Michigan regulators on performance-based rate mechanisms and infrastructure recovery mechanisms to reduce regulatory lag. Recent Michigan clean energy legislation supports the company's renewable investment strategy while providing regulatory certainty.
DTE company profile · for informational purposes only — not investment advice.
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