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DTE Energy Co DTE

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DTE Reports Strong Q1; Confident That Midyear Spin-Off of Midstream Segment Is On Track

Charles Fishman, CFA Equity Analyst

Analyst Note

| Charles Fishman, CFA |

We are reaffirming our $131 fair value estimate after narrow-moat DTE Energy reported strong first-quarter EPS, reaffirmed earnings guidance, and indicated that the spin-off of DTE Midstream remains on track for midyear completion. DTE reported operating EPS of $2.44 for the recently ended quarter versus $1.66 in the same period last year.

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Company Profile

Business Description

DTE Energy owns two regulated utilities in Michigan. DTE Electric serves approximately 2.2 million customers in southeastern Michigan including Detroit. DTE Gas serves 1.3 million customers throughout the state. In addition, DTE has nonutility businesses and investments including energy marketing and trading , renewable natural gas facilities, and on-site industrial energy projects.

One Energy Plaza
Detroit, MI, 48226-1279
T +1 313 235-4000
Sector Utilities
Industry Utilities - Regulated Electric
Most Recent Earnings Mar 31, 2021
Fiscal Year End Dec 31, 2021
Stock Type Slow Growth
Employees 10,600