AllAnalyst Report
logoArgusMarch 13, 2024

DTE Energy Company: Management guiding for peer-high growth in 2024

Symbols
DTE
Sector(s)
Utilities
Rating
Current Price
$109.52
Price Target
Earnings Estimate
Summary

DTE Energy is a Detroit-based diversified energy company. Its operating units include Detroit Edison, an electric utility serving 2.3 million customers in Southeastern Michigan; MichCon, a natural gas utility serving 1.3 million customers in Michigan; and other nonutility energy businesses focused on power and industrial projects, fuel transportation, and marketing. In July 2021, DTE completed the spinoff of its midstream gas pipeline operations. Utility revenues account for about 58% of current total revenue. DTE's fuel mix is approximately 40% coal, 20% nuclear, and 22% natural gas, with the remainder from other sources. The company is expanding its use of renewable fuels. It is more reliant on coal than some peers, but is planning to stop using coal at its Belle River plant by 2028 and at its Monroe plant by 2040.

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