DTE Energy Q2 net income rises; maintains 2026 operating EPS guidance 

Overview

• U.S. utility's Q2 operating earnings fell yr/yr to $274 mln, with EPS at $1.32

• Reported Q2 net income rose to $282 mln, or $1.35 per diluted share

• Company reaffirmed 2026 operating EPS guidance of $7.59 to $7.73

Outlook

• DTE Energy confirms 2026 operating EPS guidance of $7.59 to $7.73

• Company plans to refrain from filing another electric rate request until at least 2028

• Company says it will continue investing in reliability and clean energy in 2026

Result Drivers

• INFRASTRUCTURE INVESTMENT - Co said it invested over $900 mln in H1 2026 to improve electric reliability and support affordability, including grid modernization and smart grid technology

• CLEAN ENERGY INITIATIVES - Co advanced clean energy through a $1.6 bln battery storage investment and expanded renewable energy partnership with University of Michigan

Company press release: ID:nPn61B2mRa

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", 9 "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 $165.00, about 12.1% above its July 27 closing price of $147.23

• The stock recently traded at 18 times the next 12-month earnings vs. a P/E of 19 three months ago

Reuters Recommended Reads

• July 28 - CMS Energy Q2 revenue misses estimates; maintains long-term adjusted EPS growth target

• July 28 - CenterPoint Energy Q2 profit beats estimates, raises capital plan

• July 28 - Largest US power grid moves ahead with plan to meet swelling demand

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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.)