DTE Energy Q1 operating earnings fall amid infrastructure investments

DTE Energy Co

30/04/2026 12:24

Overview

U.S. utility's Q1 operating earnings fell yr/yr as infrastructure investments continued

Company invested $400 mln in electric grid reliability improvements during Q1

DTE secured agreement to power Google's new Michigan data center

Outlook

DTE Energy confirms 2026 operating EPS guidance of $7.59-$7.73

Company says it remains focused on managing operational costs and keeping bills low

DTE Energy expects continued investments in reliability and clean energy resources in 2026

Result Drivers

INFRASTRUCTURE INVESTMENT - Co invested $400 mln in electric distribution infrastructure to improve grid reliability and resilience

GOOGLE DATA CENTER AGREEMENT - Secured agreement to power Google's new Michigan data center, expected to spread fixed grid costs and benefit affordability for existing customers

FEWER OUTAGES - Co said grid modernization led to 60% fewer outages during severe weather and faster power restoration for customers

Company press release: ID:nPngmFbDa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Operating Earnings
$407 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy", 8 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the electric utilities peer group is "buy"

Wall Street's median 12-month price target for DTE Energy Co is $156.00, about 6.1% above its April 29 closing price of $147.03

The stock recently traded at 19 times the next 12-month earnings vs. a P/E of 17 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)