DTE Energy CompanyNYSE
Wed, Oct. 26, 1:22 PM
- Nuclear power will come to an end in the U.S. if the industry fails to obtain more government support, Carlyle Group predicts.
- U.S. nuclear reactors need more subsidies to keep running, such as a federal carbon tax that would reward them for their zero-emissions power, according to Bob Mancini, co-head of Carlyle's power unit.
- Mancini points to measures approved in New York as an example of the kind of help nuclear power plant owners will need to survive; in August, NY state regulators cleared ~$500M/year in subsidies as part of a clean energy plan to reduce greenhouse gas emissions.
- Relevant tickers include EXC, ETR, DUK, D, NEE, SO, PCG, ED, EIX, AEP, PPL, DTE, FE, NRG, PNM, POR, SCG, WR, XEL, LNT, GE, URA, NLR
Wed, Oct. 26, 7:06 AM
Tue, Oct. 25, 5:30 PM
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Fri, Sep. 30, 10:32 AM
- DTE Energy (DTE +1%) unveils plans to build natural gas turbine plants worth $1B-$1.5B to replace part of the capacity from coal-fired plants it intends to retire by 2023.
- DTE says the plants will provide ~1K MW of energy, enough to power 850K homes, with one of the projects planned to be located on existing DTE property adjacent to the Belle River power plant in China Township, Mich.
- In June, DTE announced plans to close three of its five coal-fired plants in Michigan by 2023.
Wed, Sep. 28, 5:05 PM
- DTE Energy (NYSE:DTE) -1.2% AH after announcing a 12M-unit public offering, with an underwriters option to purchase up to an additional 1.5M units.
- Each equity unit will be issued in a stated amount of $50 and will consist of a contract to purchase common stock in the future and a 5% ownership interest in a remarketable senior note having a principal amount of $1,000.
- DTE says it plans to use the proceeds for the recently announced purchase of $1.3B in midstream natural gas assets.
Tue, Sep. 27, 3:44 PM
- DTE Energy (DTE -1.5%) remains the top pick among small- and mid-cap regulated utilities at Macquarie, which maintains its Outperform rating and raises its price target by $2 to $107, a day after buying $1.3B in natural gas pipeline assets from M3 Midstream and Vega Energy Partners.
- Macquarie sees the assets as "attractive strategically given their location, contracts, diversified list of customers, potential for expansion and interconnection with DTE's existing systems," and estimates the deals will add to EPS by $0.04 (+0.8%) in 2017 and $0.15 (+2.3%) by 2020, ahead of DTE's own 2010 guidance of $0.10.
- DTE raises its 2016 EPS guidance range to $5.09-$5.35 vs. its earlier estimate of $4.91-$5.19, and sees the deal increasing EPS starting in 2017 and adding $0.10 in 2020, according to a slide presentation.
Mon, Sep. 26, 5:23 PM
- DTE Energy (NYSE:DTE) agrees to acquire midstream natural gas assets from M3 Midstream and Vega Energy Partners for a combined ~$1.3B, increasing its presence in the Appalachian basin.
- DTE says it will buy all of Appalachia Gathering System, located in Pennsylvania and West Virginia, and 40% of Stonewall Gas Gathering, in West Virginia, from M3, as well as a 15% stake in Stonewall Gas from Vega Energy Partners.
- The assets, which gather natural gas produced in the Appalachia region and provide access to multiple markets, will become part of the DTE's non-utility gas storage and pipeline business.
- DTE says the transactions will not materially change its current business mix.
Thu, Sep. 15, 7:15 AM
Tue, Jul. 26, 7:23 AM
Mon, Jul. 25, 5:30 PM
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Thu, Jun. 9, 12:57 PM
- DTE Energy (DTE +0.4%) says it plans to shut down eight coal-fired generating units at three power plants in Michigan within the next seven years, part of a transformation in the way DTE will produce electricity in the state.
- DTE says the plants generated ~25% of total electricity produced by the utility last year, or enough to power 900K homes.
- DTE already had shut three coal generating units earlier this year; its announcement of closing further units will result in the retirement of 11 out of 17 coal-fired units by 2023.
Thu, May 5, 2:47 PM
- DTE Energy (NYSE:DTE) declares $0.73/share quarterly dividend, in line with previous.
- Forward yield 3.21%
- Payable July 15; for shareholders of record June 20; ex-div June 16.
Tue, Apr. 26, 7:16 AM
- DTE Energy (NYSE:DTE): Q1 EPS of $1.52 misses by $0.03.
- Revenue of $2.56B (-14.1% Y/Y) misses by $410M.
Mon, Apr. 25, 5:30 PM
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Wed, Mar. 16, 3:58 PM
- DTE Energy (DTE +1.3%) says it plans to spend $1.4B in Michigan natural gas pipeline infrastructure over the next five years.
- DTE says the investments will help maintain the natural gas system's safety and reliability while keeping prices affordable.
- DTE's plans call for modernizing cast iron and steel main pipelines with newer, more-durable material, and new service lines to homes and businesses will be installed.
Wed, Feb. 10, 7:17 AM
- DTE Energy (NYSE:DTE): Q4 EPS of $1.01 beats by $0.02.
- Revenue of $2.49B (-19.2% Y/Y) misses by $680M.