DTE Energy(DTE)

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DTE Energy(DTE) - 2021 Q2 - Earnings Call Transcript
2021-07-27 18:58
Financial Data and Key Metrics Changes - DTE Energy reported total operating earnings of $329 million for Q2 2021, translating to $1.70 per share, which is an increase of $0.17 per share compared to Q2 2020 [13][14] - The company raised its 2021 operating earnings guidance midpoint from $5.51 per share to $5.77 per share, reflecting a year-over-year growth in operating EPS guidance from 7.4% to 12.5% [11][15] Business Line Data and Key Metrics Changes - DTE Electric earnings were $238 million for the quarter, up $19 million from Q2 2020, primarily due to higher commercial sales and warmer weather [13][14] - DTE Gas reported operating earnings of $7 million, which is $4 million lower than the same quarter last year, mainly due to warmer weather [14] - The Gas Storage and Pipelines segment had operating earnings of $86 million, an increase of $16 million year-over-year, driven by the LEAP pipeline going into service [14] - The Power and Industrial segment's operating earnings were $34 million, a $9 million increase from the previous year due to new RNG projects [14] Market Data and Key Metrics Changes - The second quarter was noted as the seventh warmest on record in Michigan, impacting energy sales positively [13] - DTE Electric's voluntary renewable program, MIGreenPower, reached 950 megawatts of commitments with large business customers and approximately 35,000 residential customers [9] Company Strategy and Development Direction - DTE Energy is focused on a clean energy transformation, including the retirement of coal-fired power plants, with plans to accelerate coal retirements potentially before 2040 [8][19] - The company is investing $17 billion in capital over the next five years, primarily in clean energy and customer reliability [12][17] - DTE aims to achieve net zero greenhouse gas emissions by 2050 and is expanding its renewable natural gas (RNG) initiatives [10][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving the increased 2021 guidance and maintaining a long-term growth trajectory of 5% to 7% in operating EPS [17][68] - The company is monitoring the impact of the delta variant but has not seen any immediate risks to margins [49] Other Important Information - DTE completed the spin-off of its midstream business, allowing it to focus on its utility operations, which now account for 90% of operating earnings [7][12] - The company was recognized for its community engagement and corporate citizenship, receiving awards for its initiatives [7] Q&A Session Summary Question: Can DTE retire all coal prior to the 2030s? - Management is exploring ways to accelerate coal retirements and will provide updates on plans by the end of the year or early next year [19][20] Question: What was the performance of the Gas Storage and Pipelines segment? - The segment exceeded expectations in the first half due to favorable activity across all platforms [24][25] Question: How is the electric utility performing? - Commercial and industrial sales have rebounded significantly compared to the pandemic lows, while residential sales have remained stable [27][29] Question: What is the outlook for RNG growth? - The nonutility business, including RNG, is expected to contribute modestly to overall operating earnings, with careful project selection [30][31] Question: What is the status of the gas and electric rate cases? - The electric rate case is expected to be filed no earlier than October, while discussions for the gas case are progressing positively [48] Question: Are there any concerns regarding inflationary pressures? - Management is not currently seeing significant inflationary pressures on costs due to long-term contracts and negotiated prices with contractors [54]
DTE Energy(DTE) - 2021 Q2 - Quarterly Report
2021-07-26 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________________ FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period ended June 30, 2021 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 1-11607 DTE Energy Company Michigan 38-3217752 (State or other jurisdiction of incorporation or organization) (I.R.S Employer Identifi ...
DTE Energy(DTE) - 2021 Q1 - Earnings Call Transcript
2021-04-27 20:01
DTE Energy Company (NYSE:DTE) Q1 2021 Earnings Conference Call April 27, 2021 9:00 AM ET Company Participants Barbara Tuckfield - Director, Investor Relations Jerry Norcia - President and CEO David Slater - President and CEO-Elect, DTM Dave Ruud - Senior Vice President and CFO Conference Call Participants Michael Weinstein - Credit Suisse Andrew Weisel - Scotiabank Durgesh Chopra - Evercore ISI Jonathan Arnold - Vertical Research Partners Steve Fleishman - Wolfe Research Constantine Lednev - Guggenheim Part ...
DTE Energy(DTE) - 2021 Q1 - Quarterly Report
2021-04-26 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________________ FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period ended March 31, 2021 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 12 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 1-11607 DTE Energy Company Michigan 38-3217752 (State or other jurisdiction of incorporation or organization) (I.R.S Employer Identif ...
DTE Energy(DTE) - 2020 Q4 - Earnings Call Transcript
2021-02-19 19:50
DTE Energy Company (NYSE:DTE) Q4 2020 Earnings Conference Call February 19, 2021 9:00 AM ET Company Participants Barbara Tuckfield – Director-Investor Relations Jerry Norcia – President and Chief Executive Officer David Slater – President and Chief Executive Officer-Elect, Midstream Dave Ruud – Senior Vice President and Chief Financial Officer Conference Call Participants Michael Weinstein – Credit Suisse Jeremy Tonet – JPMorgan Julian Dumoulin-Smith – Bank of America Jonathan Arnold – Vertical Research Par ...
DTE Energy(DTE) - 2020 Q4 - Annual Report
2021-02-18 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________________________ FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2020 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 12 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 1-11607 DTE Energy Company Michigan 38-3217752 (State or other jurisdiction of incorporation or organization) (I.R.S Employer Identifi ...
DTE Energy(DTE) - 2020 Q3 - Quarterly Report
2020-10-27 15:53
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________________ FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period ended September 30, 2020 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 12 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 1-11607 DTE Energy Company (State or other jurisdiction of incorporation or organization) (I.R.S Employer Identification No.) Mic ...
DTE Energy(DTE) - 2020 Q2 - Quarterly Report
2020-07-28 14:57
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________________ FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period ended June 30, 2020 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 12 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 1-11607 DTE Energy Company (State or other jurisdiction of incorporation or organization) (I.R.S Employer Identification No.) Michigan ...
DTE Energy(DTE) - 2020 Q1 - Quarterly Report
2020-04-28 14:52
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________________ FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period ended March 31, 2020 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 12 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 1-11607 DTE Energy Company (State or other jurisdiction of incorporation or organization) (I.R.S Employer Identification No.) Michiga ...
DTE Energy(DTE) - 2019 Q4 - Annual Report
2020-02-05 20:13
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________________________ FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2019 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 12 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 1-11607 DTE Energy Company (State or other jurisdiction of incorporation or organization) (I.R.S Employer Identification No.) Michigan ...