DTE Energy Company (DTE) Stock

DTE Energy Company (DTE) is a Utilities stock trading at $135.21 (as of 2026-08-21), with a market capitalization of $28.13B and a trailing P/E of 21.0. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

DTE Energy Company operates utility and related energy businesses through Electric, Gas, and Power and Industrial Projects segments. It generates, distributes, and sells electricity and natural gas to customers in southeastern and throughout Michigan, and provides industrial products and services such as coke and power/steam, chilled water, and wastewater treatment.

Understand DTE Energy Company: how it makes money

DTE Energy generates and delivers electricity and supplies natural gas to customers in southeastern Michigan, making money by generating or buying energy, distributing it through its grid assets, and selling it to residential, commercial, and industrial customers.

DTE’s profit engine is tied to moving energy through its physical infrastructure and supply portfolio, using an electricity generation mix (fossil, pumped storage hydro, nuclear, and wind and other renewables) and operating grid assets to serve a large customer base.

Business quality (Mixed): Clear, asset heavy utility model with a large electricity customer base and an electricity supply mix that spans conventional generation and renewables, but results can be sensitive to the operational demands of running and supplying those generation sources and delivering through the grid.

Valuation: At 25× earnings, DTE trades 11% above the Utilities average (22×). Note: one-time items can distort reported P/E.

Bull case

Large electricity customer base: The Electric segment serves approximately 2.3 million residential, commercial, and industrial customers in southeastern Michigan.
Integrated electricity supply and grid assets: The Electric segment operates and owns approximately 698 distribution substations and 449,800 line transformers, and generates electricity using multiple sources including fossil fuel, pumped storage hydro, nuclear, and wind and other renewables.

Bear case

Operating complexity across generation types: Electricity supply relies on a mix of fossil fuel, pumped storage hydro, and nuclear, plus wind and other renewables, which can add operational complexity to keep supply and generation working reliably.
Gas supply chain dependence: The Gas segment purchases, stores, transports, distributes, and sells natural gas, which means performance can depend on execution across multiple steps of the gas supply chain.

Valuation — source: SEC EDGAR (first-party)
Price	$135.21
Market Cap	$28.13B
P/E Ratio	21.0
EV / EBITDA	5.3
Price / Book	2.28
Price / Sales	1.70
DCF Value (model)	$13.55
DCF Upside vs Price	-90.0%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$15.81B
Net Margin	9.2%
Revenue Growth (YoY)	26.9%
EPS Growth (YoY)	3.8%

Financial Health — source: SEC EDGAR
Altman Z-Score	0.96 (distress)

Valuation vs Sector & Industry
Stock P/E	21.0
Sector P/E (Utilities)	20.8
Industry P/E (Utilities)	20.1
vs Sector	0.7%
vs Industry	4.5%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	VANGUARD GROUP INC ($3.39B)
Institutional Holders Tracked	10
Congressional Trades (recent)	6

Company
Sector	Utilities
Industry	Utilities
CEO	Gerardo Norcia
Employees	4,750
Country	US
IPO Date	1970-01-02

Related Companies (Business model: Regulated Utility (Electric / Gas); 8 closest by market cap; US-domiciled)

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.