Detroit, Nov. 25, 2024 (GLOBE NEWSWIRE) -- The DTE Energy Foundation announced today the winners of its first Community Transformation Grant Program, awarding $310,000 to 12 non-profit organizations across Michigan. This new initiative expands one of the Foundation’s core pillars of giving - Community Transformation. Since the program’s launch in March, the DTE Foundation has more than doubled its initial grant from $150,000 to address the overwhelming need for support, as demonstrated by the substantial nu ...

DTE Energy Company (DTE) recently announced its plans to invest over $100 million to build three new electric substations, along with installing new poles, power lines and electric equipment, in Michigan. This is part of the company’s broader grid investment strategy involves reducing its power outages by 30% and lowering restoration time by 50% by 2029.Smart grid technology will be incorporated in all the new substations, allowing DTE Energy to monitor the grid from its headquarters, and facilitating to re ...

Detroit, Nov. 18, 2024 (GLOBE NEWSWIRE) -- DTE Energy (NYSE:DTE) today announced the construction of three new electric substations as part of the company’s ongoing commitment to reducing power outage frequency by 30% while cutting outage time in half by 2029. The new substations will be in Northville Township, Pontiac and Shelby Township and represent a total investment of more than $100 million. "We're not just building for today — we're building the grid of the future to meet the evolving needs of our ...

DTE Energy (DTE) has been beaten down lately with too much selling pressure. While the stock has lost 5.4% over the past four weeks, there is light at the end of the tunnel as it is now in oversold territory and Wall Street analysts expect the company to report better earnings than they predicted earlier.Guide to Identifying Oversold StocksWe use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a stock is oversold. This is a momentum oscillator that mea ...

DETROIT, Nov. 01, 2024 (GLOBE NEWSWIRE) -- Forecasts for the coming winter suggest temperatures may not dip as low as in recent years, but energy use is still expected to increase as it does each winter. DTE Energy is reaching out to customers to share tips on managing use and getting assistance if they’re having trouble paying bills. This effort comes just after DTE earned the top score in Customer Satisfaction with Business Natural Gas Service in the Midwest* in the J.D. Power 2024 U.S. Gas Utility Busine ...

Exhibit 99.1 DTE Energy reports third quarter 2024 accomplishments, earnings and investments in improving energy infrastructure • Continued on path to improving electric reliability through investments in smart grid technology and new substations • Began construction of three new solar parks, all funded by company's voluntary MIGreenPower program • Installed nearly 1,000 free air conditioners for people in need in metro Detroit • Published 2023 CleanVision Sustainability Report • Recognized for initiatives ...

Detroit, Oct. 25, 2024 (GLOBE NEWSWIRE) -- DTE Energy (NYSE:DTE), Michigan's largest producer of and investor in renewable energy, today announced that its largest solar park, Sauk Solar, is now operational. Located in central Michigan's Branch County, the 150-megawatt solar park has nearly 347,000 solar panels and generates enough clean energy to power approximately 40,000 homes. Sauk Solar is more than three times the size of DTE's second largest solar park in Lapeer. It is also the first of six new solar ...

Financial Data and Key Metrics Changes - Operating earnings for Q3 2024 were $460 million, translating to $2.22 per share, showing a strong performance compared to previous quarters [21] - DTE Electric earnings were $437 million, an increase of $169 million from Q3 2023, driven by base rate implementation, warmer weather, and lower storm expenses [21] - DTE Gas reported operating earnings of $8 million lower than the previous year, impacted by higher rate base costs and a return to normalized O&M levels [21] - DTE Vantage's operating earnings decreased by $23 million to $33 million, primarily due to timing and one-time items [22] - Energy Trading segment earned $25 million, reflecting strong performance in physical power and gas portfolios [22] Business Line Data and Key Metrics Changes - DTE Electric's earnings growth was attributed to favorable weather and effective cost management [21] - DTE Gas faced challenges with higher costs but saw some revenue increase from the Infrastructure Recovery Mechanism (IRM) [21][22] - DTE Vantage is expected to ramp up earnings in Q4 as new projects come online, particularly in RNG and carbon capture [22][39] Market Data and Key Metrics Changes - The company is experiencing strong demand for its voluntary renewable energy program, with 2,500 megawatts already subscribed [12] - The energy efficiency program has helped low-income customers by providing nearly 1,000 free air conditioning units [7] - The company is actively involved in hurricane relief efforts, showcasing its commitment to community support [8] Company Strategy and Development Direction - The company aims for a long-term EPS growth rate of 6% to 8%, supported by capital investments in reliability and clean generation [4][9] - DTE is focusing on improving grid reliability and transitioning to cleaner energy sources, with significant investments planned [10][11] - The company is updating its five-year plan to align with regulatory proceedings and customer-focused investments [5][10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving 2024 operating EPS guidance and strong results in 2025 and beyond [3][23] - The regulatory environment is seen as constructive, supporting the company's capital investment plans [10][15] - Management highlighted the importance of maintaining customer affordability while investing in infrastructure [20] Other Important Information - DTE has been recognized for its employee engagement and commitment to disability inclusion, which contributes to its operational success [6] - The company is making significant progress in its renewable energy projects, including new solar parks [12][13] - The independent audit of the electric distribution system confirmed the need for strategic investments to improve reliability [11][17] Q&A Session Summary Question: Discussion on system needs and potential CapEx reconsideration - Management noted opportunities for incremental investment in generation and distribution systems, driven by strong demand for renewable energy subscriptions and clean energy legislation [27] Question: Update on storm and resiliency audits - Management confirmed the plan to meet reliability targets and acknowledged the need for additional spending based on audit findings [28][29] Question: Year-to-date performance and guidance for Q4 - Management indicated strong performance in electric earnings and trading, with expectations for a good year overall [33][34] Question: Update on performance-based rule-making docket - Management reported constructive discussions with the commission regarding performance metrics and the ongoing regulatory process [36] Question: Insights on RNG and carbon capture projects - Management highlighted a strong pipeline for RNG projects and ongoing advancements in carbon capture initiatives [38][39] Question: Load growth expectations and data center legislation - Management forecasted flat demand growth but noted significant interest from data centers, with positive legislative developments expected [41][42] Question: Update on gas rate case and affordability - Management expressed confidence in the gas rate case outcomes and the supportive stance of the commission [46] Question: Voluntary renewables momentum - Management indicated that the subscription for voluntary renewables is expected to exceed initial forecasts [47] Question: Tax credits impact on nonregulated business - Management confirmed that tax credits would provide favorable contributions to earnings in the coming years [63][64]

For the quarter ended September 2024, DTE Energy (DTE) reported revenue of $-999 million, down 134.6% over the same period last year. EPS came in at $2.22, compared to $1.44 in the year-ago quarter. ...

Core Insights - DTE Energy Company reported third-quarter 2024 operating earnings per share (EPS) of $2.22, exceeding the Zacks Consensus Estimate of $1.87 by 18.7% and showing a 54.2% increase from the previous year's EPS of $1.44 [1] - The company’s GAAP earnings were $2.30 per share, compared to $1.61 in the same quarter last year [1] Financial Performance - The operating net income for the quarter was $460 million, up from $298 million in the year-ago period [2] - DTE Electric segment's operating earnings were $2.11 per share, an increase from $1.30 in the prior-year quarter [3] - DTE Gas segment reported an operating loss of 6 cents per share, compared to a loss of 3 cents in the previous year [3] - Non-Utility Operations reported operating earnings of 27 cents per share, down from 43 cents in the third quarter of 2023 [3] Future Guidance - DTE Energy reiterated its 2024 operating EPS projection, expecting it to be in the range of $6.54-$6.83, with the Zacks Consensus Estimate at $6.70 per share, near the midpoint of the company's guidance [4] Market Position - DTE Energy currently holds a Zacks Rank 2 (Buy) [5]