Nov 6, 4:28 PM ET
DTE Energy said it is selling primarily all of its DTE Vantage business for approximately $3 billion to institutional investors advised by J.P. Morgan Asset Management, with closing targeted in the first half of 2027. The company also raised its long-term operating EPS growth target to greater than 9% through 2031, up from a prior 6% to 8% range, and increased its five-year utility capital plan to $44 billion, which it says is nearly 30% above the prior plan.
- Transaction value of approximately $3 billion for primarily all DTE Vantage assets, excluding EES Coke and several named custom energy solutions and renewable energy sites
- Target closing in the first half of 2027; sale proceeds will be invested in utility businesses, reducing equity and debt needs
- Operating EPS growth target of greater than 9% from 2027 to 2031, versus prior 6% to 8% growth profile; 2026 operating EPS guidance of $7.59 to $7.73 remains, with the company positioned to achieve the high end
- Average annual equity issuances targeted at about $1 billion from 2027 to 2031; dividend to increase 7% in 2027
Read the filing on SEC.gov ↗
Nov 6, 4:18 PM ET
DTE Energy Company furnished unaudited financial statements for its indirect subsidiary, DTE Gas Company, for the quarter ended September 30, 2026. DTE Gas reported a net loss of $29 million for the third quarter and net income of $176 million for the first nine months of 2026. These results provide transparency into the operating performance and financial condition of the utility subsidiary for shareholders.
- DTE Gas reported operating revenues of $211 million for the third quarter ended September 30, 2026, compared to $207 million for the same period in 2025.
- Net loss for the third quarter of 2026 was $29 million, improving from a net loss of $36 million in the third quarter of 2025.
- For the nine months ended September 30, 2026, net income was $176 million, compared to $175 million for the first nine months of 2025.
Read the filing on SEC.gov ↗
Nov 5, 7:05 AM ET
DTE Energy agreed on November 1, 2026 to sell all equity interests in its wholly owned subsidiary DTE Vantage to Velocity BidCo LLC for $2,970,672,573, subject to closing adjustments. DTE Vantage holds primarily renewable energy projects and custom energy solutions for industrial, commercial and institutional customers, so the deal changes the company's business mix, and closing requires regulatory approvals and is expected in mid-2027.
- Purchase price is $2,970,672,573, subject to adjustments for cash, debt, working capital, capital expenditures and transaction expenses at closing.
- DTE's board unanimously approved the transaction on October 30, 2026.
- Buyer would pay a $148,533,628.65 termination fee to DTE under specified circumstances.
- Closing is currently expected in mid-2027, and either party may terminate if the deal is not completed by August 1, 2027.
Read the filing on SEC.gov ↗
Nov 5, 6:53 AM ET
DTE Energy announced third quarter 2026 net income of $470 million, or $2.25 per diluted share, compared with $419 million, or $2.01 per diluted share, for the third quarter of 2025. The company also entered into an agreement to sell its non-utility DTE Vantage business for approximately $3 billion to institutional investors advised by J.P. Morgan Asset Management, with the transaction expected to close in the first half of 2027.
- Reported third quarter 2026 net income of $470 million, or $2.25 per diluted share, compared to $419 million, or $2.01 per diluted share, in 2025.
- Agreed to sell the DTE Vantage non-utility business for approximately $3 billion, with a closing expected in the first half of 2027.
- Confirmed 2026 operating earnings per share guidance in the range of $7.59 to $7.73 and established a 2027 pro forma baseline range of $7.59 to $7.73.
Read the filing on SEC.gov ↗
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