Detroit, Sept. 23, 2024 (GLOBE NEWSWIRE) -- DTE Energy (NYSE:DTE) today released the following statement from Matt Paul, president and chief operating officer, DTE Electric, in response to the third-party audit of the electric distribution system issued by the Michigan Public Service Commission. "We remain laser-focused on delivering on our commitment to our customers — reducing power outages by 30% and cutting outage time in half by 2029. "To meet that commitment, as well as the customer service standards ...

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Industry Overview - The utilities sector serves as a fallback option for investors during recessions due to its reputation for rewarding shareholders with dividends, but it tends to fall out of favor during economic growth periods when growth stocks dominate the market [1] - Utility sector stocks are defensive in nature and are minimally affected by market volatility, having shown resilience even during the 2008 global economic crisis [2] - The sector has performed well in 2024, with the S&P 500 Select Sector SPDR (XLU) advancing 22.4% year to date as of August 31, 2024 [5] Economic Context - The market anticipates interest rate cuts in September, marking the first loosening of monetary policy since early 2022, with expectations of at least two rate cuts this year [3] - Inflation has significantly cooled, reaching a 43-month low at 2.5% year over year in August, while the jobs market remains robust [4] Investment Opportunities - Utilities are considered long-term buy-and-hold options due to regular dividend declarations and generally higher dividend yields compared to other equities, providing stability and growth potential [6] - DTE Energy Company (DTE) has an expected earnings growth rate of 16.9% for the current year and a Zacks Rank of 2 [8] - UGI Corporation (UGI) has an expected earnings growth rate of 3.2% for the current year and a Zacks Rank of 2 [9] - Northwest Natural Holding Company (NWN) has an expected earnings growth rate of 26.3% for the next year and a Zacks Rank of 2 [10] - Veolia Environnement SA (VEOEY) has an expected earnings growth rate of 207% for the current year and a Zacks Rank of 2 [11]

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Shares of electric and gas utility provider DTE Energy Co. (DTE, Financial) have shown upward momentum over the past year. The stock has climbed by double digits year to date due to rising recessionary concerns in the U.S., pushing it close to its highest levels in nearly a decade. However, all indications suggest the stock has run too far, offering little upside potential at current prices. Therefore, it is best to wait for the anticipated correction before loading up on this reliable income stock. DTE Ene ...

Detroit, Aug. 22, 2024 (GLOBE NEWSWIRE) -- DTE Energy (NYSE:DTE) today announced a significant milestone in its commitment to improving energy reliability for its customers. Through the implementation of smart grid technology, DTE has prevented nearly 5,000 power interruptions and more than 1.8 million minutes without power for customers so far in 2024. "We're dedicated to reducing power outages by 30% while cutting outage durations in half by 2029 — and smart technology is a critical investment to help us ...

Exhibit 99.1 DTE Gas Company Unaudited Consolidated Financial Statements as of and for the Three and Six Months Ended June 30, 2024 TABLE OF CONTENTS Page Definitions 1 Consolidated Statements of Operations (Unaudited) 2 Consolidated Statements of Comprehensive Income (Unaudited) 3 Consolidated Statements of Financial Position (Unaudited) 4 Consolidated Statements of Cash Flows (Unaudited) 6 Consolidated Statements of Changes in Shareholder's Equity (Unaudited) 7 Notes to Consolidated Financial Statements ( ...

DTE Energy Company (NYSE:DTE) Q2 2024 Earnings Conference Call July 25, 2024 8:30 AM ET Company Participants Matthew Krupinski - Director of Investor Relations Gerardo Norcia - Chairman & Chief Executive Officer Joi Harris - President & Chief Executive Officer David Ruud - Executive Vice President & Chief Financial Officer Conference Call Participants Jeremy Tonet - JPMorgan Shar Pourreza - Guggenheim Partners Durgesh Chopra - Evercore ISI David Arcaro - Morgan Stanley Michael Sullivan - Wolfe Research Andr ...

The company reported GAAP earnings of $1.55 per share compared with 97 cents in the prior-year quarter. Segmental Details DTE Gas: The segment's reported operating earnings of 6 cents per share compared with 12 cents in the yearago period. DTE Energy reiterated its 2024 operating EPS projection. The company still expects operating EPS to be in the range of $6.54-$6.83. The Zacks Consensus Estimate for earnings is pegged at $6.69 per share, which is almost in line with the midpoint of the company's guided ra ...