DTE Energy is a diversified energy company headquartered in Detroit, specializing in the development and management of energy-related businesses and services across the United States . The company operates through several key segments, including DTE Electric and DTE Gas, which are public utilities providing electricity and natural gas to millions of customers in Michigan . Additionally, DTE Energy engages in non-utility operations through DTE Vantage, focusing on renewable natural gas projects and custom energy solutions, and Energy Trading, which involves energy marketing and trading activities .
- DTE Electric - Generates, purchases, distributes, and sells electricity to approximately 2.3 million customers in southeastern Michigan.
- Energy Trading - Engages in energy marketing and trading operations, contributing significantly to the company's non-utility revenue.
- DTE Gas - Purchases, stores, transports, distributes, and sells natural gas to about 1.3 million customers throughout Michigan.
- DTE Vantage - Focuses on renewable natural gas projects and provides custom energy solutions to industrial, commercial, and institutional customers.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Gerardo Norcia ExecutiveBoard | Chairman and CEO | None | Gerardo Norcia has been with DTE since 2002, holding various leadership roles. He became CEO in 2019 and Chairman in 2022. | View Report → |
David Ruud Executive | Executive Vice President and CFO | None | David Ruud is the CFO of DTE Energy and DTE Electric. No additional details about his tenure or achievements are provided. | |
Diane M. Antishin Executive | SVP - Human Resources and Chief Diversity and Inclusion Officer | None | Diane Antishin oversees HR and diversity initiatives at DTE. No additional details about her tenure or achievements are provided. | |
JoAnn Chavez Executive | Senior Vice President and Chief Legal Officer | None | JoAnn Chavez has been with DTE for over five years and became Chief Legal Officer in 2019. | |
Mark W. Stiers Executive | President and COO, DTE Vantage and Energy Trading | None | Mark Stiers has been President and COO of DTE Vantage and Energy Trading since 2019. | |
Trevor F. Lauer Executive | Vice Chairman and Group President | None | Trevor Lauer has been with DTE for over five years, previously serving as President and COO of DTE Electric. | |
Casey Santos Board | Independent Director | CTO at Caliber; Board Chair of Nashville Technology Council | Former CIO at Asurion. Appointed to DTE's board in 2025. | |
Charles G. McClure Board | Independent Director | Managing Partner at Michigan Capital Advisors; Board Member at Crane Co. and 3D Systems Inc. | Former CEO of Meritor, Inc. and Federal-Mogul Corporation. Has been a DTE director since 2012. | |
David A. Brandon Board | Independent Director | Executive Chairman of Domino’s Pizza, Inc.; Board Member at MillerKnoll, Inc. | Former CEO of Domino’s Pizza and Toys “R” Us. Has been a DTE director since 2010. | |
David A. Thomas Board | Independent Director | President of Morehouse College; Board Member at Vanguard Family of Funds | President of Morehouse College since 2018. Has been a DTE director since 2013. | |
Deborah L. Byers Board | Independent Director | Board Member at Civitas Resources, Excelerate Energy, and Kinetik Inc.; Senior Advisor at Veriten | Former Americas Industry Leader at Ernst & Young LLP. Joined DTE's board in 2023. | |
Gail J. McGovern Board | Independent Director | President and CEO of the American Red Cross; Board Member at PayPal Holdings, Inc. | President and CEO of the American Red Cross since 2008. Has been a DTE director since 2003. | |
Gary Torgow Board | Independent Director | Chairman of The Huntington National Bank; Board Member at Huntington Bancshares Incorporated | Former Executive Chairman of TCF Financial Corporation. Has been a DTE director since 2019. | |
Mark A. Murray Board | Independent Director | Board Member at Fidelity Fixed Income and Asset Allocation | Former President of Meijer, Inc. and Grand Valley State University. Has been a DTE director since 2009. | |
Nicholas K. Akins Board | Independent Director | Chairman of Fifth Third Bancorp; Chairman of OhioHealth | Retired CEO of American Electric Power (AEP). Joined DTE's board in 2023. | |
Robert C. Skaggs Board | Independent Director | Board Member at DT Midstream, Inc. | Former CEO of NiSource, Inc. and Columbia Pipeline Group. Has been a DTE director since 2017. |
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Given the significant capital investments required for grid reliability and clean generation, how confident are you that the Michigan Public Service Commission will approve your requested rate increases and the expansion of the infrastructure recovery mechanism, especially considering the emphasis on maintaining customer affordability?
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The independent audit confirmed your proposed investment plan to reduce power outages by 30% and cut outage time in half by 2029; however, were there any critical findings or recommendations that might necessitate adjustments to your strategy or additional investments beyond what you've planned?
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With the projected average annual residential bill growth of just over 1% from 2021 through 2025 despite substantial capital expenditures, how sustainable is this rate of bill increase in the long term, and do you foresee any potential for higher rate pressures on customers beyond 2025?
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Regarding the potential need to design tailored tariffs for new large loads to prevent stranded asset risks, what specific strategies are you considering to ensure that these new customers contribute appropriately to infrastructure costs without adversely impacting existing customers' rates?
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In your Vantage segment focusing on renewable natural gas and carbon capture solutions, can you elaborate on the profitability outlook and any significant risks or challenges you anticipate, particularly in advancing these projects amid evolving regulatory policies and technological developments?
Research analysts who have asked questions during DTE ENERGY earnings calls.
David Arcaro
Morgan Stanley
4 questions for DTE
Durgesh Chopra
Evercore ISI
4 questions for DTE
Jeremy Tonet
JPMorgan Chase & Co.
4 questions for DTE
Travis Miller
Morningstar
4 questions for DTE
Andrew Weisel
Scotiabank
3 questions for DTE
Nicholas Campanella
Barclays
3 questions for DTE
Shahriar Pourreza
Guggenheim Partners
3 questions for DTE
Sophie Karp
KeyBanc Capital Markets Inc.
3 questions for DTE
Agnieszka Storozynski
BofA Securities
1 question for DTE
Anthony Crowdell
Mizuho Financial Group
1 question for DTE
Julien Dumoulin-Smith
Jefferies
1 question for DTE
Konstantin Lednev
Guggenheim Partners
1 question for DTE
Paul Fremont
Ladenburg Thalmann
1 question for DTE
Paul Zimbardo
Jefferies Financial Group Inc.
1 question for DTE
William Appicelli
UBS
1 question for DTE
Recent press releases and 8-K filings for DTE.
- On October 28, 2025, DTE Electric entered a Primary Supply Agreement with Oracle’s Green Chile Ventures LLC to deliver 1.4 GW of electricity to a new Michigan data center through February 2045, ramping to full delivery by December 2027, with minimum monthly charges and potential early termination fees.
- Simultaneously, DTE Electric executed an Energy Storage Agreement to build and operate 1.4 GW of storage capacity for 15 years (with extension options), with credit support provided by Customer’s parent.
- Recorded $419 million in reported earnings, or $2.01 per diluted share; operating earnings were $468 million or $2.25 per diluted share in Q3 2025, compared with $460 million or $2.22 per share in Q3 2024
- Invested nearly $3 billion through the first three quarters of 2025 and remains on track to invest $4.4 billion in its utilities this year to modernize infrastructure and transition to cleaner generation
- Executed a 1.4 GW data center agreement with a hyperscaler, funding new energy storage and creating affordability benefits for existing customers
- Confirmed 2025 operating EPS guidance of $7.09 – 7.23 and provided an early 2026 outlook of $7.59 – 7.73 per share
- DTE invested nearly $3 billion in its utilities through Q3 2025 and remains on track to invest $4.4 billion in 2025 to modernize infrastructure and transition to cleaner generation.
- Reported Q3 2025 earnings of $419 million ( $2.01 per diluted share) and operating earnings of $468 million ( $2.25 per diluted share).
- Executed a 1.4 GW data center power agreement, with ~3 GW more in late-stage negotiations, driving a $6.5 billion increase to the 5-year capital investment plan.
- Early 2026 operating EPS outlook of $7.09 – $7.23, implying 6 % – 8 % growth over the 2025 guidance midpoint, with confidence in reaching the high end of the range.
- On October 22, 2025, DTE Energy Company entered into a Sixth Amended and Restated Five-Year Credit Agreement replacing its existing revolving facility, with Citibank N.A. as Administrative Agent.
- The syndicated revolving credit facility provides aggregate commitments of $1,000,000,000, maturing October 22, 2030, with Citibank, JPMorgan Chase, Wells Fargo, Bank of America and others as lenders.
- Parallel Sixth Amended and Restated Five-Year Credit Agreements were executed by DTE Gas Company and DTE Electric Company on the same date, on substantially identical terms.
- The agreement permits up to two one-year extension options, subject to lender consent and compliance with covenants such as a maximum Total Funded Debt-to-Capitalization ratio of 0.70:1 for the Borrower.
- On September 17, 2025, DTE Energy Company completed the sale of $600 million aggregate principal amount of its 2025 Series H 6.25% Junior Subordinated Debentures due 2085.
- The Debentures were registered under the Securities Act via the shelf registration on Form S-3 (File No. 333-286383) and issued under the Amended and Restated Indenture dated April 9, 2001, as supplemented by a Supplemental Indenture dated September 15, 2025.
- The Supplemental Indenture establishes a stated maturity of October 1, 2085, a 6.25% annual coupon, subordinated ranking to Senior Indebtedness, and optional redemption at par from October 1, 2030.
- Filed exhibits include the Supplemental Indenture (Exhibit 4.1), DTE’s legal opinion and consent from Senior VP & CLO Kathrine Lorenz (Exhibit 5.1), and Hunton Andrews Kurth LLP’s U.S. federal tax opinion (Exhibit 8.1).
- DTE’s Board unanimously elects Joi Harris as President and CEO effective September 8, 2025, succeeding Jerry Norcia, who will transition to Executive Chairman.
- Harris’s annual base salary will rise to $1,200,000, with incentive targets of 125% (annual) and 500% (long-term), plus $1,000,000 in restricted shares vesting after three years; meanwhile, Norcia’s salary will decrease to $900,000 (and to $750,000 in 2027) with lower incentive percentages.
- David Ruud, current Executive Vice President and CFO, is appointed Vice Chairman and Chief Financial Officer effective September 8, 2025.
- Harris brings a 34-year track record at DTE and, as President and COO, oversaw a 70% improvement in electric reliability in 2024.
- Norcia, CEO since 2019 and Board Chairman since 2022, will continue serving as Executive Chairman and advisor, maintaining roles on community boards including Henry Ford Health and Business Leaders for Michigan.
- DTE Energy serves 2.3 million electric and 1.3 million gas customers in Michigan while operating diversified energy businesses nationwide.
- Investor Meeting Update: DTE Energy will meet with investors from May 18-20, 2025, and the related presentation is available on its website as of May 16, 2025.
- Earnings Guidance: The filing outlines revised 2025 operating EPS guidance with a 7% growth over 2024 and a long-term target of 6%-8% operating EPS growth through 2029.
- Capital and Operational Investments: The company is advancing projects to enhance grid reliability, expand renewable energy capacity, and maintain robust cash flows and strong credit ratings.
- DTE Energy reported Q1 2025 earnings of $445 million (EPS of $2.14) and operating earnings of $436 million (EPS of $2.10), marking significant improvement .
- The company delivered strong operational performance with a net income of $205 million and net cash provided from operations of $405 million in Q1 2025 .
- In Q1 2025, unaudited financials showed total assets of $8,679 million and shareholder equity of $3,141 million as of March 31, 2025 .
- Disaggregated gas operating revenues reached $868 million, driven by robust gas sales and transportation services .
- DTE Energy invested over $850 million in Q1 2025 and is on track to invest $4.4 billion in 2025 to enhance grid reliability, renewable generation, and natural gas services .
- Key milestones include launching Michigan’s largest battery energy storage system and awarding energy efficiency grants to small businesses .