DTE Energy Targets More Than 9% Operating EPS Growth Through 2031

DTE Energy set an operating earnings per share (EPS) growth target above 9% through 2031 and outlined $44 billion in planned utility investments over five years, pairing expansion with a shift toward regulated operations.

The outlook uses a pro forma 2027 figure as its starting point. DTE expects operating EPS growth to exceed 9% in 2028 and 2029, then reach at least 9% in 2030 and 2031. The company said growth will vary over the period rather than follow a steady annual pace.

DTE's Michigan utilities serve 2.3 million electric customers in the state's southeast and provide natural gas to 1.4 million customers statewide. Its five-year plan covers investment in its utility businesses.

DTE expects $2.7 billion to $2.8 billion after taxes and fees from the planned sale of its non-utility DTE Vantage business for about $3 billion. The company plans to put the proceeds into its utilities, reduce planned equity issuance by about $1 billion and cut parent-company debt by about $2 billion.

President and CEO Joi Harris said the MPSC approved DTE's contract to supply electricity to Google's 1-gigawatt data center in October. Harris linked the project to a 1.4-gigawatt Oracle transaction approved last year. DTE said the additional electricity sales from the projects would spread fixed costs across more volume and support staying out of electric rate cases through at least 2028.