|Bid||86.59 x 3000|
|Ask||86.64 x 1400|
|Day's Range||86.26 - 89.28|
|52 Week Range||71.21 - 135.67|
|Beta (5Y Monthly)||0.47|
|PE Ratio (TTM)||13.74|
|Earnings Date||Oct 21, 2019 - Oct 27, 2019|
|Forward Dividend & Yield||4.05 (4.54%)|
|Ex-Dividend Date||Mar 12, 2020|
|1y Target Est||123.79|
The DTE Energy Foundation, the philanthropic arm of DTE Energy, today announced that it will match all donations to the Michigan Association of United Ways and Michigan Community Action now through Thursday, April 16. Donations can be allocated to particular United Way chapters and community action agencies to address emergency needs of a particular community.
(Bloomberg) -- Over the last few weeks, hundreds of itinerant nuclear-plant workers converged on a sleepy lakeside town south of Detroit. They arrived in pickup trucks, campers and SUVs, and are now working side-by-side to refuel the Fermi 2 reactor. It’s one of 32 in the U.S. scheduled to have fuel rods replaced this spring — pandemic or not.Installing new rods is a huge undertaking, sometimes involving crews of 1,000 or more descending on a site for a month or so before moving on to the next one. The jobs are planned far in advance, for times when power demand is low and a plant can be taken out of service, and the tasks can’t be put off.“Outages have to happen when they have to happen,” said Michael Rennhack, the founder of NukeWorker.com, a jobs board for the industry.Reactors are considered critical infrastructure, and servicing them is deemed essential work as the coronavirus shuts down much of the U.S. economy. Utilities said they’re doing what they can to protect crews, regularly taking temperatures and pressing the importance of hand-washing and trying not to get too close to one another. Still, there are limits.“I don’t know how you practice social distancing while you’re overhauling a nuclear reactor,” said Chris Gadomski, head nuclear analyst for BloombergNEF. “It’s a major, major construction overhaul.”At least one person at the Fermi site has been diagnosed with the virus, according to Abe Babcock, a dispatcher for the International Brotherhood of Boilermakers in Rossford, Ohio. Stephen Tait , a spokesman for plant owner DTE Energy Co., said he couldn’t confirm that, under company policy.“While we are disclosing we have positive cases of the coronavirus within our organization, we are not disclosing specific work locations,” he said. “We are going through extraordinary efforts to check the health of employees daily and anyone with flu-like symptoms is asked to return to home and seek medical attention.Babcock sent about 50 of his union members to Fermi and said that some had to go into 14-day quarantine after being exposed to the virus, though they’ve since been cleared to return to the job.“It's definitely a concern,” Babcock said. “Our work is very seasonal, and you have to do it when you can.” Towing over the shores of Lake Erie, the Fermi 2 plant is about 30 miles south of Detroit, which has emerged as a hot spot for the coronavirus. Officials in the nearby town of Monroe, a suburb of 20,000 with a quaint downtown and treelined streets, have been in touch with DTE Energy. “We definitely have some concerns about the situation,” said Kim Comerzan, director of the Monroe County Health Department, without elaborating.Spring is peak season for refueling, because the relatively mild temperatures mean people aren't cranking air conditioners or heaters and driving up demand for electricity. The task is usually done in conjunction with other repairs and required inspections. Most plants are in small towns, and they typically welcome the specialized labor force that fills hotels, restaurants and bars.Plant operators in Europe are also pushing forward with refueling and maintenance, with caution. The French nuclear safety authority said Friday that it suspended on-site inspections of Electricite de France SA and Orano sites when not necessary. Engie SA is continuing ongoing work at three of its seven reactors in Belgium. EDF, meanwhile, is prioritizing essential work at its 57 reactors and said the pandemic will lead to lower nuclear output as it revamps its maintenance schedule.Precautions are being taken in Monroe County, where Fermi 2 employs about 850 people. The Days Inn & Suites is offering grab-and-go breakfasts instead of the regular buffet and monitoring the lobby so it doesn’t get too crowded, said Jennifer Davis, the general manager. “It does feel different, because of everything that’s going on.”The project at the 1.2-gigawatt Fermi plant includes thousands of tasks, and DTE Energy will consider reevaluating the scope of the job to find any tasks that could be deferred, Tait, the spokesman, said. The Nuclear Regulatory Commission is drafting rules to grant delay requests. Besides replacing a third of the fuel rods, the big job this time at Fermi is recoating the torus, a donut-shaped component that encircles the reactor and can provide cooling water to safety systems during an accident. The U.S. Energy Information Administration estimates the project will take more than five weeks.The torus is a must-do job, but not everything is as critical. “There are some ancillary activities during an outage that can be deferred,” said Scott Burnell, a spokesman for the NRC.The largest operator of U.S. nuclear plants, Exelon Corp., is seeking to streamline its remaining refueling job this year. Its started work in early March at its Byron and Nine Mile Point plants, and it has four others scheduled for refueling outages this season.“We’ve looked at whether we can change the scope, or limit the number of people on site,” said Lacey Dean, an Exelon spokeswoman. But the main work will continue on schedule. “These refueling outages are really necessary.”Rennhack, the jobs-board founder, said he hasn’t heard complaints from people on the refueling teams. “They’re contract workers. Contract workers are always worried about their next paycheck.” For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
DETROIT, March 24, 2020 – DTE Energy (DTE) today announced the appointment of David Ruud as Senior Vice President and Chief Financial Officer, effective May 4. Ruud, who currently serves as Senior Vice President, Corporate Strategy & Development at DTE, will succeed Peter Oleksiak, who will be retiring from his role as Chief Financial Officer. Oleksiak will remain with DTE through the end of the year as a special advisor to DTE President and Chief Executive Officer Jerry Norcia, and will work closely with Ruud to ensure a seamless transition.
DTE Energy (DTE) today announced, effective immediately, it is safely winding down and voluntarily suspending for the time being all non-critical infrastructure and maintenance work as an additional measure to prioritize the health of its employees, customers and communities during the coronavirus outbreak. This move to keep employees home — in instances other than emergency response to customers — helps to ensure they do not add to the growing spread of the virus and further stress the health care system, equipment and services across the state.
We hate to say this but, we told you so. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW and predicted a US recession when the S&P 500 Index was trading at the 3150 level. We also told you to short the market and buy […]
Unfortunately for some shareholders, the DTE Energy (NYSE:DTE) share price has dived 32% in the last thirty days. Even...
In support of Gov. Gretchen Whitmer’s emergency declaration and to safeguard the health and safety of DTE Energy employees, customers and communities, DTE Energy has activated company-wide plans to address the implications of a coronavirus outbreak in Michigan while ensuring reliable energy service. “We care deeply about the communities in which we live and serve — our top priority is the health and safety of our employees and customers,” said Jerry Norcia, president and chief executive officer.
DTE Energy’s customers from Michigan’s Thumb to Monroe, Detroit to Ann Arbor, experienced improved reliability in 2019 after the company completed infrastructure upgrade projects across the 7,600 square miles in its Southeast Michigan territory. In most areas where trees were trimmed, customers had a 65% improvement in reliability. “Since the tree trim program, our reliability has turned around and we have seen significant improvement,” said Paul Sincock, City Manager of Plymouth.
Detroit, Feb. 20, 2020 -- DTE Energy, Michigan’s largest energy company, is the eighth-leading energy company in the nation for energy efficiency savings as announced today by.
DETROIT, Feb. 19, 2020 – DTE Energy Services, a non-utility business of DTE Energy (DTE), today announced it completed the $100 million purchase of the Marina Thermal Facility from SJI, an energy services holding company based in Folsom, New Jersey. Located in Atlantic City, the Marina Thermal Facility is an eight-megawatt combined heat and power generation facility that provides electricity and hot and chilled water to MGM’s Borgata Hotel Casino & Spa and The Water Club. “DTE Energy Services has been providing reliable energy services to our customers that allow for greater business focus and ensure the safety of our employees, customers and the communities we’ve served for the past 25 years,” said Mark Stiers, president and chief operating officer, DTE Power & Industrial.
Sprint Corp. shares soared 77% in premarket trade Tuesday, while T-Mobile US Inc. was up 10%, after a judge approved the companies' merger plan. U.S. District Judge Victor Marrero said the $26 billion deal was not likely to stifle competition in the U.S. wireless market, the Wall Street Journal reported, as some states seeking to block the deal were arguing. "T-Mobile has redefined itself over the past decade as a maverick that has spurred the two largest players in its industry to make numerous pro-consumer changes," the judge wrote, adding that a closed deal would allow it to continue "T-Mobile's undeniably successful business strategy for the foreseeable future." Sprint shares have fallen 19% in the last 12 months, while T-Mobile shares have gained 23% and the S&P 500 has gained 24%.
Deutsche Telekom shares climbed over 4% in Frankfurt as the company said Judge Victor Marrero will decide on the merger of T-Mobile US and Sprint on Tuesday. Deutsche Telekom holds 63% of T-Mobile US. "We remain confident that the judge will decide in favor of the transaction," Deutsche Telekom said.
As you might know, DTE Energy Company (NYSE:DTE) recently reported its full-year numbers. Results look mixed - while...
Recognized as top corporate citizen in the U.S. by Points of LightEarned AGA Safety Achievement Award Awarded Biomass Project of the Year for Renewable Natural Gas Project by.
NEW YORK, NY / ACCESSWIRE / February 5, 2020 / DTE Energy Co. (NYSE:DTE) will be discussing their earnings results in their 2019 Fourth Quarter Earnings to be held on February 5, 2020 at 9:00 AM Eastern ...
DTE Energy (NYSE: DTE ) announces its next round of earnings this Wednesday, February 5. Here's Benzinga's look at DTE Energy's Q4 earnings report. Earnings and Revenue Wall Street expects EPS of $1.30 and ...
Could DTE Energy Company (NYSE:DTE) be an attractive dividend share to own for the long haul? Investors are often...
DTE Energy's (DTE) fourth-quarter top line is likely to have witnessed solid growth owing to heavy precipitation in most of its service territories.