128.99 -0.33 (-0.25%)
After hours: 4:27PM EDT
|Bid||129.20 x 800|
|Ask||129.02 x 800|
|Day's Range||128.45 - 129.59|
|52 Week Range||107.22 - 134.37|
|Beta (3Y Monthly)||0.31|
|PE Ratio (TTM)||21.34|
|Earnings Date||Oct 22, 2019 - Oct 28, 2019|
|Forward Dividend & Yield||3.78 (2.93%)|
|1y Target Est||137.00|
Grants will be awarded to all state-approved domestic violence shelters in Michigan during October, National Domestic Violence Awareness Month DETROIT , Oct. 23, 2019 /PRNewswire/ -- The DTE Energy Foundation ...
DTE Energy's (DTE) service territories experience record precipitation levels in September, which, in turn, are likely to have resulted in higher electricity demand during the third quarter.
Rating Action: Moody's places DTE Energy's long-term rating on review for downgrade; affirms the ratings of its utilities. Global Credit Research- 22 Oct 2019. Approximately $15 billion of debt securities ...
Milestones in energy use reductions to help DTE achieve its aggressive new goal of net zero carbon emissions by 2050 DETROIT , Oct. 22, 2019 /PRNewswire/ -- Customers of DTE Energy, Michigan's largest ...
DTE Energy (DTE) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
(Bloomberg) -- DTE Energy Co. vowed last month to eliminate all its emissions from generating electricity. Now it’s betting big on natural gas.The Detroit-based utility agreed to buy a gas-gathering system and pipeline in Louisiana for $2.25 billion in cash, according to a statement Friday. The acquisition, from Momentum Midstream and Indigo Natural Resources, will deepen DTE’s existing gas network and boost its capacity to supply the Gulf Coast. Closely-held Indigo Natural Resources is the primary supplier of gas to the assets being sold to DTE.The fact that DTE is pushing to cut emissions on one side of its business while doubling down on fossil fuel with the other underscores how utilities continue to see gas as core to their business even as they pledge to fight climate change. While wind and solar have become cheap enough to compete with fossil fuels, utilities say they will need gas to heat homes and keep power grids stable for years to come.“The U.S. is undergoing a fundamental shift toward clean energy, and natural gas will play a large role in that,” DTE President and Chief Executive Officer Jerry Norcia said on a conference call. “Large investments in renewable resources and natural gas infrastructure enable the shift to a cleaner energy future.”Investors were less than enthusiastic about the acquisition, with shares falling as much as 2.9%, the most since February on an intraday basis. The deal raised concerns about DTE’s exposure to Indigo, a primary supplier of natural gas on the system, and investors are taking a cautious approach, Guggenheim Securities LLC analyst Shahriar Pourreza said in a note to clients. Fitch Ratings placed DTE’s credit rating on watch negative due to the Indigo exposure.Last month, one of America’s biggest renewable-energy companies, NextEra Energy Partners LP, made its own big gas bet, agreeing to buy Meade Pipeline Co. in a deal valued at about $1.37 billion. NextEra’s chairman and chief executive officer, Jim Robo, told analysts after announcing the deal that “I view gas pipelines as clean energy.”DTE serves 2.2 million electric customers and 1.3 million gas customers in Michigan. It also owns 1,900 miles of pipelines across the Midwest to the Northeast through its DTE Midstream unit. The Louisiana deal comes eight months after a DTE joint venture agreed to buy Generation Pipeline, a natural gas conduit in Ohio. DTE plans to invest $4 billion to $5 billion in DTE Midstream through 2023.The acquisition announced Friday is expected to close this quarter. It includes an additional $400 million payment when a 150-mile (240-kilometer) gathering pipeline that’s under construction is finished in the second half of 2020.Read More: All These Climate Promises Ignore a Big Source of Emissions Gas has played a significant role in cutting U.S. power-plant emissions, generating about half as much carbon-dioxide as coal. As hydraulic fracturing, or fracking, has made gas cheap and plentiful, scores of coal plants have closed, and power-sector emissions have declined about 25% in a decade.Environmentalists, however, say stopping global warming means cutting fossil fuels almost entirely.Momentum is closely held and backed by investors including Yorktown Energy Partners.Barclays Plc advised DTE on the deal. Momentum was advised by Jefferies Financial Group Inc. and Credit Suisse Group AG.(Adds investor reaction in fifth paragraph)\--With assistance from James Herron.To contact the reporters on this story: Gerson Freitas Jr. in São Paulo at email@example.com;Brian Eckhouse in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: James Herron at email@example.com;Lynn Doan at firstname.lastname@example.orgFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
DTE Energy said it's reached a deal to buy the gathering system and gathering pipeline in the Haynesville shale formation of Louisiana for $2.25 billion in cash plus a milestone payment of $400 million. DTE said the assets, being acquired from Momentum Midstream and Indigo Natural Resources, the primary gas producer supplying the system, include an existing gathering system and a 150-mile gathering pipeline under construction, which will be in service in the second half of 2020. DTE said the deal is immediately $0.15 accretive to operating earnings per share in 2020, growing to $0.45 per share over five years.
DETROIT, Oct. 18, 2019 /PRNewswire/ -- DTE Midstream, a non-utility business of DTE Energy (DTE), today announced it entered into an agreement to acquire a gathering system and gathering pipeline in the Haynesville shale formation of Louisiana for a purchase price of $2.25 billion in cash, plus a $400 million milestone payment upon completion of the gathering pipeline in the second half of 2020. Under the terms of the agreement, DTE will acquire 100 percent of the assets from Momentum Midstream and Indigo Natural Resources, the primary gas producer supplying the system.
U.S. power utility DTE Energy Co is nearing a deal to acquire gas pipeline system M5 Midstream LLC for about $2.5 billion, expanding its business that's not tied to electricity provision, people familiar with the matter said on Thursday. Advanced energy efficiency measures have made the provision of electricity less lucrative for power companies such as DTE, which serves about 2.2 million customers in southeastern Michigan, including Detroit. In response, DTE has sought to expand its businesses that encompass natural gas pipelines and storage, because they provide steady cash flows even during energy price swings.
DTE Energy Co. agreed to buy a natural gas gathering system and pipeline in Louisiana for $2.25 billion to boost capacity to supply the Gulf Coast.
DETROIT , Oct. 15, 2019 /PRNewswire/ -- DTE Energy (NYSE: DTE) will announce its third quarter 2019 earnings before the market opens Monday, Oct. 28, 2019 . The company will conduct a conference call to ...
WEC Energy (WEC) is an attractive choice for investors right now, courtesy of its robust infrastructure investments, stable economic condition and customer addition.
Does DTE Energy Company (NYSE:DTE) represent a good buying opportunity at the moment? Let’s quickly check the hedge fund interest towards the company. Hedge fund firms constantly search out bright intellectuals and highly-experienced employees and throw away millions of dollars on satellite photos and other research activities, so it is no wonder why they tend […]
DETROIT, Oct. 10, 2019 /PRNewswire/ -- More than 111,000 Michigan residents hold energy-related jobs today, and the Michigan Department of Labor and Economic Opportunity estimates energy jobs will grow by 6% through 2026. The Michigan Energy Industry Cluster Workforce Analysis, just released by the state, details the outlook for energy careers in Michigan.
Michigan is preparing to usher in a new era with legal recreational marijuana sales in 2020, but the state's largest employers say their pre-employment drug screenings that include cannabis will not change. The state's residents already are failing pre-employment drug screening tests at a rate higher than elsewhere in the nation. According to Quest Diagnostics data, the numbers of people who didn't pass pre-employment drug screenings and likely lost potential job opportunities has increased by 31% from 2014 to 2018, and jumped more than 20% between 2017 and 2018, alone.
DETROIT, Oct. 9, 2019 /PRNewswire/ -- DTE Energy has named Peter Dietrich senior vice president and chief nuclear officer. Dietrich, who has nearly three decades of experience in the commercial nuclear industry, is responsible for overall operations at Fermi 2. Prior to joining DTE, Dietrich served as the chief nuclear officer for the Emirates Nuclear Energy Corporation and Nawah Energy Company.
AES Corp's (AES) subsidiary starts commercial operation at its 20-MW AC Antelope DSR 3 solar project, for providing energy to Edison International's subsidiary.
DETROIT, Sept. 26, 2019 /PRNewswire/ -- DTE Energy (DTE) today announced a goal to achieve net zero carbon emissions in its electric company by 2050. In early 2017, DTE was the first energy company in Michigan and one of two in the nation to step forward and commit to an 80% carbon reduction goal — a strong move that other energy companies across the country have since followed.