DTE Energy
Operator of Michigan electric and gas utilities, energy projects and trading businesses.
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Profile
Supplies regulated electricity in southeastern Michigan and natural gas across the state, earning primarily from utility service and infrastructure investment recovered through rates. Nationwide DTE Vantage projects and energy trading add smaller non-utility operations, while Michigan regulators govern rates and cost recovery.
Supplies electricity across southeastern Michigan through DTE Electric and distributes and stores natural gas statewide through DTE Gas. These regulated utilities form the core business. Nationwide, DTE Vantage develops renewable natural gas, power generation and custom energy projects, while Energy Trading markets power, natural gas and environmental products and optimizes transportation and storage positions.
Concentrates utility investment on grid reliability, cleaner generation and gas-system renewal, with data-center demand supporting electric-system expansion. DTE Vantage relies largely on long-term customer contracts, while trading results remain exposed to commodity markets.
Electric and gas rates, cost recovery and service conditions depend primarily on Michigan Public Service Commission orders. Electric operations also face federal reliability, nuclear and environmental oversight; non-utility results depend on project execution, counterparties and a limited customer base.
Company facts
Categories
Key statistics
Year to date +4.2% · Average volume (30d) 1.3M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 28, 2026 | BMO Capital | Reiterate | Market Perform | $150 | $143 |
| Aug 27, 2026 | Mizuho Securities | Target | $164 | $152 | |
| Aug 21, 2026 | Morgan Stanley | Reiterate | Overweight | $150 | $148 |
| Aug 4, 2026 | Truist Financial | Target | $158 | $160 | |
| Jul 29, 2026 | BMO Capital | Reiterate | Market Perform | $152 | $150 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 28, 2026Q2 FY26 | $1.14 | $1.32 | +15.8% | $3.36B | $3.37B | +0.3% | −1.75% |
| Apr 30, 2026Q1 FY26 | $2.01 | $1.95 | −3.0% | $4.37B | $5.14B | +17.6% | −1.91% |
| Feb 17, 2026Q4 FY25 | $1.54 | $1.65 | +7.1% | $3.39B | $4.43B | +30.7% | −1.43% |
| Oct 30, 2025Q3 FY25 | $2.11 | $2.25 | +6.6% | $3.24B | $3.53B | +8.9% | −1.83% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $4.44B | $3.42B | $3.53B | $4.24B | $5.14B | $3.34B | |
| Gross profit | $1.21B | $1.00B | $2.94B | $709.0M | $1.78B | $537.0M | |
| Operating income | $624.0M | $427.0M | $619.0M | $579.0M | $412.0M | $396.0M | |
| Net income | $444.0M | $228.0M | $418.0M | $372.0M | $247.0M | $282.0M | |
| Diluted EPS | $2.14 | $1.10 | $2.02 | $1.80 | $1.19 | $1.36 | |
| Gross margin | 27.3% | 29.4% | 83.5% | 16.7% | 34.6% | 16.1% | |
| Operating margin | 14.1% | 12.5% | 17.6% | 13.7% | 8.0% | 11.9% |
Fiscal years (4-quarter sums)FY21 $14.96B · FY22 $19.23B · FY23 $12.75B · FY24 $12.46B · FY25 $15.63B
Balance sheet, Jun 30, 2026Cash & short-term investments $84.0M · Total debt $27.84B · Total assets $56.23B · Shareholders' equity $12.15B
Dividends
Raised for 3 straight years — most recently to $1.165 from $1.09 in Dec 2025. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 22, 2026 | Jun 22 | Jul 15 | $1.165 | |
| Mar 16, 2026 | Mar 16 | Apr 15 | $1.165 | |
| Dec 15, 2025 | Dec 15 | Jan 15 | $1.165 | raised from $1.09 |
| Sep 15, 2025 | Sep 15 | Oct 15 | $1.09 | |
| Jun 16, 2025 | Jun 16 | Jul 15 | $1.09 | |
| Mar 17, 2025 | Mar 17 | Apr 15 | $1.09 | |
| Dec 16, 2024 | Dec 16 | Jan 15 | $1.09 | raised from $1.02 |
| Sep 16, 2024 | Sep 16 | Oct 15 | $1.02 |
Ownership
Shares outstanding 208.09M · Float 206.96M
This issuer lists more than one class and the share count spans them all, so a stake here reads as a share of the whole company, not of this class.
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % of company | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 25.70M | 12.35% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 12.57M | 6.04% | 13F | Aug 13, 2026 |
| Capital Research Global Investors | 12.50M | 6.01% | 13F | Aug 12, 2026 |
| State Street Corp | 11.23M | 5.40% | 13F | Aug 7, 2026 |
| Vanguard Portfolio Management LLC | 11.18M | 5.37% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| May 14, 2026 | Lisa A. Muschong | officer: VP, Corp Sec & Chief of Staff | −1,000 | $143.72 |
Peers
- CMS Energy
Michigan's other large regulated electric+gas utility, same MPSC regulator.
- WEC Energy Group
Midwest regulated electric+gas utility with two Michigan MPSC subsidiaries.
- American Electric Power
Midwest regulated electric utility; scale peer with Michigan presence.
- Duke Energy
US largest regulated electric+gas utility by market cap; DTE industry benchmark.
- Southern Company
Southeast regulated electric+gas utility, 9M customers; industry benchmark peer.
- NiSource
Indiana-based fully regulated electric+gas utility, Midwest infrastructure peer.
- Xcel Energy
Eight-state Midwest regulated electric+gas utility; clean-energy IRP peer.
- Evergy
Kansas/Missouri regulated electric utility; MISO and Midwest sector peer.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| DTE Energy | $135.86 | +0.03% | $28.27B | 21.3 | 16.6 | 1.7 | −1.5% |
| CMS Energy | $68.78 | +0.84% | $21.39B | 20.2 | 16.4 | 2.4 | −0.5% |
| WEC Energy Group | $106.22 | +0.01% | $34.60B | 20.6 | 19.9 | 3.4 | +2.6% |
| American Electric Power | $125.76 | +2.84% | $66.59B | 21.2 | 18.4 | 3.0 | +7.0% |
| Duke Energy | $120.20 | −0.02% | $93.75B | 18.1 | 17.7 | 2.8 | +1.1% |
| Southern Company | $92.05 | +4.32% | $101.52B | 21.3 | 18.9 | 3.4 | +0.1% |
| NiSource | $42.21 | +4.07% | $19.45B | 21.6 | 18.6 | 2.8 | +4.6% |
| Xcel Energy | $76.26 | −0.25% | $47.75B | 20.8 | 18.0 | 3.3 | −5.1% |
| Evergy | $80.30 | −0.43% | $18.59B | 20.4 | 18.0 | 3.1 | +4.4% |
| Median | 20.7 | 18.2 | 3.0 | +1.9% |