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DTE Energy
(NYSE:DTE)
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Rating:64Neutral
Price Target:
$157.00
â–²(6.82% Upside)
Action:Reiterated
Date:06/19/26
The score is primarily held back by financial quality concerns—high leverage and structurally negative free cash flow tied to heavy capital spending and funding needs. Offsetting this are a constructive technical trend and a supportive earnings narrative with reiterated high-end guidance and meaningful data-center-driven growth potential, while valuation is only moderately supportive given a ~24x P/E despite a ~3.1% dividend yield.
Positive Factors
Regulated utility profitability
DTE’s core regulated electric and gas businesses generate steady margins and predictable cash flows supported by rate-base returns and regulatory recovery mechanisms. Consistent operating profitability and improving revenue growth provide durable earnings stability for the next several years.
Negative Factors
Elevated financial leverage
A debt-to-equity ratio above 2x increases balance-sheet sensitivity to financing conditions and raises refinancing and rating risk despite regulated cash flows. Sustained high leverage limits flexibility to fund growth or absorb regulatory timing shocks over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Regulated utility profitability
DTE’s core regulated electric and gas businesses generate steady margins and predictable cash flows supported by rate-base returns and regulatory recovery mechanisms. Consistent operating profitability and improving revenue growth provide durable earnings stability for the next several years.
Read all positive factors
DTE Energy Key Performance Indicators (KPIs)
Any
Net Income Breakdown
Analyzes the components of net income, offering a clear view of profit sources and financial health.
Analyzes the components of net income, offering a clear view of profit sources and financial health.
Data provided by:
The Fly
The FlyDTE Energy (DTE) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$32.13B
Dividend Yield3.45%
Average Volume (3M)1.53M
Price to Earnings (P/E)25.2
Beta (1Y)0.04
Revenue Growth22.33%
EPS Growth-17.75%
CountryUS
Employees9,650
SectorUtilities
Sector Strength65
IndustryRegulated Electric
Share Statistics
EPS (TTM)6.11
Shares Outstanding208,028,320
10 Day Avg. Volume1,513,353
30 Day Avg. Volume1,529,722
Financial Highlights & Ratios
PEG Ratio4.42
Price to Book (P/B)2.17
Price to Sales (P/S)1.69
P/FCF Ratio-26.65
Enterprise Value/Market Cap1.78
Enterprise Value/Revenue3.51
Enterprise Value/Gross Profit8.91
Enterprise Value/Ebitda13.23
Forecast
1Y Price Target
$158.30Price Target Upside7.70% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering10
EPS Forecast (FY)7.72
Revenue Forecast (FY)$16.03B
DTE Energy Business Overview & Revenue Model
Company Description
DTE Energy Company, established in 1903 and based in Detroit, Michigan, is primarily engaged in utility services. Its Electric division is responsible for generating, acquiring, delivering, and selling electricity to approximately 2.3 million cust...
How the Company Makes Money
DTE primarily makes money from regulated utility operations and, to a lesser extent, from non-utility energy businesses. (1) Regulated electric utility revenue: DTE Electric earns revenue by selling electricity to residential, commercial, and indu...
DTE Energy Earnings Call Summary
Earnings Call Date:Apr 30, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 23, 2026
Earnings Call Sentiment Positive
The call conveyed strong operational and financial momentum: meaningful reliability gains, clear progress on large data center deals (Oracle and Google) with quantified customer affordability benefits, solid Q1 operating earnings and confident guidance backed by RNG tax-credit assumptions. Key challenges are concentrated around energy trading timing, corporate tax/interest timing effects, substantial incremental capital needs (and associated funding), regulatory approval risk for major data center contracts, and concentration/counterparty exposure as data centers ramp. Overall, management presented a balanced but largely positive picture with plans and protections to manage the principal risks.Positive Updates
Strong First-Quarter Financials
Operating earnings of $407 million for Q1 2026, or $1.95 per share, positioning the company to achieve the high end of full-year operating EPS guidance.
Negative Updates
Energy Trading Timing Headwinds
Energy trading earnings were $59 million lower in Q1 2026 versus Q1 2025 due to expected timing/portfolio shaping; management expects the timing to reverse and to hit the high end of full-year guidance, but short-term volatility is a headwind.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong First-Quarter Financials
Operating earnings of $407 million for Q1 2026, or $1.95 per share, positioning the company to achieve the high end of full-year operating EPS guidance.
Read all positive updates
Company Guidance
Management reiterated confidence in hitting the high end of 2026 operating EPS guidance after reporting Q1 operating earnings of $407M ($1.95/share), and expects 6%–8% operating EPS growth in 2026 versus the 2025 midpoint with a 6%–8% CAGR through 2030 (utilities to comprise ~93% of earnings by 2030). Key financial metrics and planning assumptions include RNG tax‑credit benefits of $50–60M this year, requested ROE of 10.25% with a 51% equity layer in the current rate case, nearly $800M of distribution investments proposed into the IRM by 2030, annual equity issuance of $500–600M (up to $100M internal; >$350M already priced via forwards), a target FFO-to-debt of ~15%, and meaningful data‑center upside (Oracle 1.4 GW, Google 1.0 GW — Google could drive roughly $5B incremental generation/storage CapEx through 2032 and ~$1.7B of customer benefits over the contract life; Oracle ~ $300M/year benefits), with a pipeline of roughly 2 GW in late‑stage and an additional 3–4 GW of opportunities.DTE Energy Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
58
Neutral
Cash Flow
44
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 16.33B | 15.81B | 12.46B | 12.74B | 19.23B | 14.96B |
| Gross Profit | 6.44B | 13.43B | 4.34B | 4.33B | 3.67B | 3.34B |
| EBITDA | 4.33B | 3.96B | 4.05B | 3.96B | 3.25B | 2.75B |
| Net Income | 1.26B | 1.46B | 1.40B | 1.40B | 1.08B | 907.00M |
Balance Sheet | ||||||
| Total Assets | 55.11B | 54.07B | 48.85B | 44.76B | 42.68B | 39.72B |
| Cash, Cash Equivalents and Short-Term Investments | 278.00M | 250.00M | 24.00M | 26.00M | 33.00M | 28.00M |
| Total Debt | 26.97B | 26.52B | 23.24B | 20.97B | 19.24B | 18.25B |
| Total Liabilities | 42.78B | 41.76B | 37.14B | 33.70B | 32.28B | 31.01B |
| Stockholders Equity | 12.32B | 12.30B | 11.70B | 11.05B | 10.40B | 8.71B |
Cash Flow | ||||||
| Free Cash Flow | -1.47B | -1.00B | -824.00M | -714.00M | -1.40B | -705.00M |
| Operating Cash Flow | 3.31B | 3.43B | 3.64B | 3.22B | 1.98B | 3.07B |
| Investing Cash Flow | -5.67B | -5.32B | -4.95B | -4.09B | -3.43B | -3.86B |
| Financing Cash Flow | 2.54B | 2.06B | 1.34B | 883.00M | 1.46B | 315.00M |
DTE Energy Technical Analysis
Positive
146.98
Price Trends
144.35
Positive
143.92
Positive
138.21
Positive
Market Momentum
2.34
Negative
71.71
Negative
93.64
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DTE, the sentiment is Positive. The current price of 146.98 is above the 20-day moving average (MA) of 145.64, above the 50-day MA of 144.35, and above the 200-day MA of 138.21, indicating a bullish trend. The MACD of 2.34 indicates Negative momentum. The RSI at 71.71 is Negative, neither overbought nor oversold. The STOCH value of 93.64 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for DTE.
DTE Energy Risk Analysis
DTE Energy disclosed 28 risk factors in its most recent earnings report. DTE Energy reported the most risks in the "Production" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
DTE Energy Peers Comparison
UnderperformOutperform
Sector (66)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $32.75B | 20.43 | 11.71% | 2.86% | 12.32% | 23.95% | |
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
64 Neutral | $32.13B | 25.21 | 10.43% | 3.45% | 22.33% | -17.75% | |
62 Neutral | $38.27B | 13.36 | 9.16% | 0.66% | 5.26% | 18.73% | |
61 Neutral | $28.04B | 26.19 | 8.38% | 3.94% | 11.30% | -1.99% | |
60 Neutral | $27.63B | 15.76 | 10.86% | 4.54% | 9.83% | 101.90% | |
60 Neutral | $27.85B | 30.06 | 8.32% | 3.13% | 7.52% | 21.81% |
* Utilities Sector Average
DTE
DTE Energy
152.37
24.21
18.89%
AEE
Ameren
113.04
19.32
20.62%
FE
FirstEnergy
47.54
8.74
22.52%
ES
Eversource Energy
72.27
10.54
17.08%
PCG
PG&E
16.82
2.84
20.31%
PPL
PPL
36.35
3.41
10.34%
DTE Energy Corporate Events
Business Operations and StrategyPrivate Placements and Financing
DTE Energy Issues $1 Billion Junior Subordinated Debentures
Positive
Jun 18, 2026
On June 18, 2026, DTE Energy completed the sale of $1 billion of its 2026 Series C 6.200% Fixed-to-Fixed Reset Rate Junior Subordinated Debentures due 2058, issued under its existing shelf registration and long-standing indenture structure. This c...
Executive/Board ChangesShareholder Meetings
DTE Energy Shareholders Back Board, Auditor and Pay Plan
Positive
May 12, 2026
At its annual meeting held on May 7, 2026, DTE Energy shareholders elected all 13 director nominees, including Chair and CEO Gerardo Norcia and other incumbent and independent directors, to one-year terms expiring in 2027, reinforcing continuity i...
Business Operations and StrategyFinancial Disclosures
DTE Energy Posts Lower Q1 Earnings, Reaffirms 2026 Outlook
Positive
Apr 30, 2026
On April 30, 2026, DTE Energy reported first-quarter 2026 earnings of $247 million, or $1.19 per diluted share, down from $445 million, or $2.14 per share, a year earlier, while operating earnings slipped to $407 million, or $1.95 per share, from ...
Business Operations and StrategyFinancial Disclosures
DTE Energy Highlights Expanded Capital Plan and Data Center Growth
Positive
Mar 23, 2026
DTE Energy plans to meet with investors on March 24, 2026, to discuss its 2026 operating earnings guidance and a materially expanded capital plan driven by data center growth and grid and clean energy investments. The company is targeting 6%–...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.