DTE Energy to Sell Non-Utility Business for $3 Billion
By Kelly Cloonan
DTE Energy said it agreed to sell its non-utility DTE Vantage business for about $3 billion to institutional investors advised by J.P. Morgan.
The Detroit-based energy company also on Thursday reported higher third-quarter earnings and backed its full-year guidance.
DTE said the deal, which it expects to close in the first half of 2027, is part of its long-term strategy and continued efforts to boost affordability for customers.
The company said the transaction would help it increase its investment in electric and gas utilities, including to serve growing data-center demand.
"The sale supports our plan to deliver meaningful affordability benefits for customers, strengthens our ability to execute a substantial utility investment plan and positions DTE as a high-growth, premium utility with a stronger long-term outlook," Chief Executive Joi Harris said.
Third-quarter profit was $470 million, or $2.25 a share, compared with $419 million, or $2.01 a share, a year earlier.
Adjusted earnings per share were $2.30, compared with analyst estimates of $2.15, according to FactSet.
For the full year, the company said it continues to expect 2026 operating earnings per share between $7.59 and $7.73 a share.
Write to Kelly Cloonan at kelly.cloonan@wsj.com
(END) Dow Jones Newswires
November 05, 2026 07:43 ET (12:43 GMT)
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