Upside case
Bull case
$301+111.1%
DTE would need investors to value it at roughly 39x earnings — about 20x more generous than today's 18x forward P/E. That requires meaningful multiple expansion on top of continued earnings growth.
Analysis OverviewHoldUpdated May 1, 2026
DTE Energy Company (DTE) Stock Analysis
Wall Street verdict, consensus price target, and analyst rating breakdown — everything needed to frame the risk/reward at today's price.
Analyst consensus
Hold
Covering
45
analysts
20 bullish · 0 bearish · 45 covering DTE
Strong Buy
0
Buy
20
Hold
25
Sell
0
Strong Sell
0
Consensus Target
$160
+12.2% vs today
Scenario Range
$70 – $301
Model bear to bull value window
Coverage
45
Published analyst ratings
Valuation Context
18.4x
Forward P/E · Market cap $29.6B
DTE price targets
Three scenarios for where DTE stock could go
Current
~$142
Confidence
59 / 100
Updated
May 1, 2026
Where we are now
Current · $142
Bear
$70
Base
$165
Bull
$301
Market caseClosest to today
Base case
$165+15.7%
At 21x on FY1 earnings, the base case reflects a reasonable but not stretched valuation. It prices in continued growth without assuming an exceptional setup.
Stress case
Bear case
$70-50.8%
If investor confidence fades or macro conditions deteriorate, a 9x multiple contraction could push DTE down roughly 51% from where it trades now.
Not financial advice. Model confidence reflects internal scenario assumptions, not a guarantee of returns. Past performance does not predict future results.
DTE Energy Company
DTE · NYSEUtilitiesRegulated ElectricDecember year-end
DTE Energy is a regulated electric and natural gas utility serving approximately 2.3 million electric and 1.3 million gas customers in southeastern Michigan. It generates revenue primarily through regulated rate-based returns on its electric generation and distribution infrastructure (~70% of operating income) and natural gas distribution operations (~30%), with additional income from industrial projects and energy marketing. The company's key advantage is its regulated monopoly status in its service territory, which provides stable, predictable returns on its substantial infrastructure investments.
Market Cap
$29.6B
Revenue TTM
$16.3B
Net Income TTM
$1.3B
Net Margin
7.7%
DTE Revenue and Earnings Performance
Quarterly beat-or-miss track record against analyst estimates, plus forward revenue and EPS outlook for the next two fiscal years.
EPS Beat Rate
67%Exceptional
12 quarters tracked
Revenue Beat Rate
67%Exceptional
vs consensus estimates
Avg EPS Surprise
+3.9%
above Street consensus
Beat / Miss Record
BeatMissLeft = EPS · Right = Revenue
Q3 2025
Q4 2025
Q1 2026
Q2 2026
Last 4 Quarters
EPS beats: 2 of 4Q3 2025
EPS
$1.36/$1.40
Revenue
$3.4B/$2.8B
Q4 2025
EPS
$2.25/$2.11
Revenue
$3.5B/$3.2B
Q1 2026
EPS
$1.65/$1.54
Revenue
$4.4B/$3.4B
Q2 2026
EPS
$1.95/$1.98
Revenue
$4.6B/$4.4B
| Quarter | EPS (Actual / Est) | EPS Surprise | Revenue (Actual / Est) | Rev Surprise |
|---|---|---|---|---|
| Q3 2025 | $1.36/$1.40 | -2.9% | $3.4B/$2.8B | +23.3% |
| Q4 2025 | $2.25/$2.11 | +6.6% | $3.5B/$3.2B | +8.9% |
| Q1 2026 | $1.65/$1.54 | +7.1% | $4.4B/$3.4B | +30.7% |
| Q2 2026 | $1.95/$1.98 | -1.5% | $4.6B/$4.4B | +5.3% |
FY1–FY2 Estimates
Revenue Outlook
FY1
$16.9B
+3.3% YoY
FY2
$18.2B
+7.8% YoY
EPS Outlook
FY1
$7.34
+20.7% YoY
FY2
$8.17
+11.3% YoY
Trailing FCF (TTM)-$243M
FCF Margin: -1.5%
Next Earnings
May 7, 2026
Expected EPS
$2.00
Expected Revenue
$4.5B
DTE beat EPS estimates in 2 of 4 tracked quarters. Mixed delivery makes the upcoming report a key data point for re-rating.
DTE Revenue Breakdown by Segment
Product and geographic revenue mix from the latest annual disclosure, with year-over-year growth by segment.
Latest disclosure
FY 2023
Total disclosed revenue $13.0B
Product Mix
Latest annual revenue by segment or product family
Electric
44.8%
+38686.7% YoY
Tap, hover, or focus a slice to inspect segment detail.
Geographic Mix
Latest annual revenue by reported region
Segment breakdown not available for this company.
Electric is the largest disclosed segment at 44.8% of FY 2023 revenue, up 38686.7% YoY.
DTE Valuation Snapshot
Current multiples compared to the S&P 500, the company's sector, and its own five-year average.
Relative Value Signal
Slightly Overvalued
Fair value est. $140 — implies -5.8% from today's price.
Premium to Fair Value
5.8%
above fair value
Deep DiscountFair ValueVery Expensive
vs S&P 500 Trailing P/E
DTE
20.2x
vs
S&P 500
25.2x
20% discount
vs Utilities Trailing P/E
DTE
20.2x
vs
Utilities
19.7x
In line with benchmark
vs DTE 5Y Avg P/E
Today
20.2x
vs
5Y Average
19.9x
In line with benchmark
Forward PE
18.4x
S&P 500
19.1x
-3%
Utilities
17.2x
+7%
5Y Avg
—
—
Trailing PE
20.2x
S&P 500
25.2x
-20%
Utilities
19.7x
+2%
5Y Avg
19.9x
+2%
PEG Ratio
—
S&P 500
1.75x
—
Utilities
1.73x
—
5Y Avg
—
—
EV/EBITDA
13.1x
S&P 500
15.3x
-14%
Utilities
11.5x
+13%
5Y Avg
12.7x
+3%
Price/FCF
—
S&P 500
21.3x
—
Utilities
15.4x
—
5Y Avg
—
—
Price/Sales
1.9x
S&P 500
3.1x
-40%
Utilities
2.2x
-14%
5Y Avg
1.6x
+14%
Dividend Yield
2.95%
S&P 500
1.88%
+57%
Utilities
3.07%
-4%
5Y Avg
3.21%
-8%
| Metric | DTE | S&P 500 | Utilities | 5Y Avg DTE |
|---|---|---|---|---|
| Forward PE | 18.4x | 19.1x | 17.2x | — |
| Trailing PE | 20.2x | 25.2x-20% | 19.7x | 19.9x |
| PEG Ratio | — | 1.75x | 1.73x | — |
| EV/EBITDA | 13.1x | 15.3x-14% | 11.5x+13% | 12.7x |
| Price/FCF | — | 21.3x | 15.4x | — |
| Price/Sales | 1.9x | 3.1x-40% | 2.2x-14% | 1.6x+14% |
| Dividend Yield | 2.95% | 1.88% | 3.07% | 3.21% |
DTE trades above S&P 500 benchmarks on 0 of 4 measured multiples — appears modestly priced relative to the S&P 500 on most measures.
Forward P/E and PEG reflect analyst consensus estimates. Historical averages use trailing ratios where forward data is unavailable.S&P 500 and sector benchmarks both use trailing median P/E — similar readings indicate the broader index and sector are priced alike.
Open valuation toolDTE Financial Health
Verdict
Adequate
DTE earns 12.5% operating margin on regulated earnings, 3.0% dividend yield. Utilities carry higher leverage than industrials as a structural feature of the business model.
Regulated Operations
Revenue, regulated margins, and earnings
Revenue (TTM)
Trailing-twelve-month sales base
$16.3B
Revenue Growth
TTM vs prior year
+19.6%
Operating Margin
Operating income divided by revenue
12.5%
Net Margin
Net income divided by revenue
7.7%
EPS (TTM)
Diluted earnings per share, trailing twelve months
$6.08
Operating Margin
Operating income over revenue — primary regulated earnings signal
12.5%
Capital Quality
ROIC, leverage, and debt serviceability
ROIC
Return on invested capital — primary competitive quality signal
4.8%
ROA
Return on assets, trailing twelve months
3.2%
Cash & Equivalents
Liquid assets on the balance sheet
$250M
Net Debt
Total debt minus cash
$26.3B
Debt Serviceability
Net debt as a multiple of annual free cash flow
—
Regulated utilities typically operate at 3–5× net debt/FCF — this is structural, not a risk flag.
ROE
Return on equity, trailing twelve months
10.4%
Shareholder Returns
How capital is returned to owners
Total shareholder yield
3.0%
Dividend
3.0%
Buyback
0.0%
Share Repurchases
Trailing buyback outflow — dollar magnitude of capital returned
$0
Dividend / Share
Annualized trailing dividend per share
$4.21
Payout Ratio
Share of earnings distributed as dividends
59.6%
Shares Outstanding
Current diluted share count
208M
All figures from the trailing twelve months. Utilities operate with structural leverage (3–5× net debt/FCF) due to regulated, predictable cash flows.
Open full ratios pageDTE Stock Risk Factors
Key factors that could pressure the stock price, compress the multiple, or weigh on future results.
AI analysis · updated April 29, 2026
High Risk
Regulatory Shifts
Changes in Michigan's regulatory environment, including those affecting allowed rates of return on equity (ROEs) and cost recovery timelines, could materially impact DTE Energy's financial results. Such regulatory shifts may lead to significant fluctuations in revenue and profitability.
High Risk
Project Execution Risks
Large-scale projects related to renewables and energy storage carry execution and supply chain risks that could delay timelines and increase costs. Any significant project failure could adversely affect DTE's operational efficiency and financial performance.
High Risk
Load Forecast Uncertainty
Predicting future energy demand is subject to uncertainty, influenced by factors like electric vehicle adoption and industrial reshoring. A significant deviation from expected load forecasts could lead to revenue shortfalls.
Medium
Cybersecurity Risks
DTE has an enterprise risk management program to address cybersecurity risks, but the increasing frequency of cyberattacks poses a threat to operational integrity. A successful cyber breach could lead to substantial financial losses and reputational damage.
Medium
Economic Factors
Broader economic conditions and the financial health of significant customers can affect revenues. Economic downturns may lead to reduced energy consumption and delayed payments from customers.
Lower
Interest Rate Changes
Fluctuations in interest rates can impact financing costs and investment returns. As utility stocks are sensitive to interest rate changes, a significant rise could negatively affect DTE's stock valuation.
Lower
Energy Theft
Illegal activities such as meter tampering and copper theft pose risks to DTE Energy's operations. While the company has a zero-tolerance policy, these activities can lead to financial losses.
Lower
Contract Disputes
Contract disputes and litigation can lead to financial and operational disruptions. Such disputes may result in unexpected costs and resource allocation away from core business activities.
These are risk mechanisms, not predictions. The key question is which would force a cut to earnings estimates or a lower multiple than the market currently prices in.
Why DTE Stock Could Outperform
Structural drivers behind the upside case and why the stock could outperform over the next 12 months.
AI analysis · updated April 29, 2026
Ambitious Clean Energy Transition
DTE Energy has committed to substantial investments in renewable energy, aiming to add 15,000 MW of clean capacity by 2042 and exit coal by 2032. The company is investing $10 billion in clean energy generation over the next decade, with plans to add approximately 900 MW of renewable capacity annually over the next five years.
Grid Modernization and Infrastructure Investment
DTE is undertaking a massive capital program with a five-year capital plan of $25 billion for 2024–2028, allocating about $11 billion specifically for electric grid modernization. This includes investments in grid hardening, undergrounding pilots, and advanced metering infrastructure (AMI) rollouts to improve reliability and resilience.
Growth from Data Centers and Electrification
DTE is strategically positioned to benefit from the increasing demand for power from data centers and the broader trend of vehicle electrification. The company has secured agreements to power large data center developments, which are expected to drive economic progress in Michigan.
Strong Financial Performance and Growth Targets
DTE has a long-term operating EPS growth target of 6%–8%, with management projecting robust earnings growth. In 2025, DTE reported operating earnings of $1.5 billion, or $7.36 per diluted share, reflecting an increase from the previous year.
Analyst Confidence and Favorable Ratings
A significant majority of analysts recommend a 'Buy' or 'Strong Buy' for DTE Energy stock, indicating strong market confidence. The consensus price target suggests potential upside from the current share price.
Technical Strength
DTE Energy exhibits strong technical indicators, including rising moving averages and trading in the upper portion of its 52-week range, suggesting positive momentum.
A real bull case compounds — each driver matters most when it strengthens margins, supports capital returns, and keeps the company above the market's minimum growth bar simultaneously.
DTE Stock Price Performance
52-week range context and price returns across multiple time horizons. Dividend contribution is shown separately in the Capital Return section.
Current Price
$142.44
52W Range Position
57%
52-Week Range
Current price plotted between the 52-week low and high.
52-Week Low
$126.23
+12.8% from the low
52-Week High
$154.63
-7.9% from the high
1 Month
-3.54%
3 Month
+5.65%
YTD
+9.3%
1 Year
+3.5%
3Y CAGR
+8.0%
5Y CAGR
+3.5%
10Y CAGR
+6.4%
Range context matters because valuation compression and earnings misses rarely hit from the same starting point. A stock already far below its high can still fall, but it is no longer carrying the same embedded optimism as one pressing a fresh peak.
DTE vs Peers
Valuation, growth, and margin comparison against the closest publicly traded peers for this company.
Peer Set
Accurate peer set
Forward PE
18.4x
vs 20.4x median
-9% below peer median
Revenue Growth
+3.3%
vs +6.8% median
-51% below peer median
Net Margin
7.7%
vs 14.1% median
-45% below peer median
| Company | Mkt Cap | Fwd PE | Rev Grw | Margin | Rating | Upside |
|---|---|---|---|---|---|---|
DTE DTE DTE Energy Company | $29.6B | 18.4x | +3.3% | 7.7% | Hold | +12.2% |
ED ED Consolidated Edison, Inc. | $25.2B | 17.5x | +6.8% | 12.3% | Hold | +1.8% |
AEE AEE Ameren Corporation | $30.3B | 20.4x | +7.1% | 17.2% | Hold | +10.5% |
CMS CMS CMS Energy Corporation | $22.9B | 19.1x | +5.2% | 12.5% | Buy | +9.4% |
NI NI NiSource Inc. | $22.7B | 23.1x | +8.5% | 14.1% | Buy | +4.9% |
WEC WEC WEC Energy Group, Inc. | $37.1B | 20.4x | +5.5% | 16.2% | Hold | +7.8% |
This peer comparison reflects companies with similar business models, product lines, or market positioning, supplemented by industry grouping when direct matches are limited.
DTE Dividend and Capital Return
DTE returns 3.0% total yield, led by a 2.95% dividend, raised 16 consecutive years.
Dividend SustainableFCF Unknown
Total Shareholder Yield
3.0%
Dividend + buyback return per year
Buyback Yield
0.0%
Dividend Yield
2.95%
Payout Ratio
59.6%
How DTE Splits Its Return
Div 2.95%
Dividend 2.95%Buybacks 0.0%
Dividend Profile
Yield, cadence, and growth quality
Dividend / Share
Trailing annualized cash dividend
$4.21
Growth Streak
Consecutive years of dividend increases
16Y
3Y Div CAGR
7.1%
5Y Div CAGR
4.8%
Ex-Dividend Date
—
Payment Cadence
Quarterly
4 payments over the last 12 months
Buyback Engine
How much per-share support comes from repurchases
Repurchases (TTM)
Cash used for buybacks in the latest trailing period
$0
Estimated Shares Retired
0
Approx. Share Reduction
0.0%
Shares Outstanding
Current diluted share count from the screening snapshot
208M
| Year | Div / Share | YoY Grw | BB Yield | Total Yield |
|---|---|---|---|---|
| 2026 | $1.17 | — | — | — |
| 2025 | $4.44 | +6.9% | 0.0% | 3.3% |
| 2024 | $4.15 | +7.0% | 0.0% | 3.1% |
| 2023 | $3.88 | +7.5% | 0.0% | 3.3% |
| 2022 | $3.61 | +1.4% | 0.2% | 3.2% |
FAQ
7 questionsDTE Investor Questions
Common questions answered from live analyst data and company financials.
01Is DTE Energy Company (DTE) stock a buy or sell in 2026?
DTE Energy Company (DTE) is rated Hold by Wall Street analysts as of 2026. Of 45 analysts covering the stock, 20 rate it Buy or Strong Buy, 25 rate it Hold, and 0 rate it Sell or Strong Sell. The consensus 12-month price target is $160, implying +12.2% from the current price of $142. The bear case scenario is $70 and the bull case is $301.
02What is the DTE stock price target for 2026?
The Wall Street consensus price target for DTE is $160 based on 45 analyst estimates. The high-end target is $170 (+19.3% from today), and the low-end target is $151 (+6.0%). The base case model target is $165.
03Is DTE Energy Company (DTE) stock overvalued in 2026?
DTE trades at 18.4x times forward earnings. The stock currently trades at a discount to the broader market. Based on current multiples versus the peer group, the relative model signals slightly overvalued. Whether the stock is over or undervalued ultimately depends on whether consensus earnings estimates are achievable.
04What are the main risks for DTE Energy Company (DTE) stock in 2026?
The primary risks for DTE in 2026 are: (1) Regulatory Shifts — Changes in Michigan's regulatory environment, including those affecting allowed rates of return on equity (ROEs) and cost recovery timelines, could materially impact DTE Energy's financial results. (2) Project Execution Risks — Large-scale projects related to renewables and energy storage carry execution and supply chain risks that could delay timelines and increase costs. (3) Load Forecast Uncertainty — Predicting future energy demand is subject to uncertainty, influenced by factors like electric vehicle adoption and industrial reshoring. Each factor has the potential to pressure earnings or compress the stock's valuation multiple.
05What is DTE Energy Company's revenue and earnings forecast?
Analyst consensus estimates DTE will report consensus revenue of $16.9B (+3.3% year-over-year) and EPS of $7.34 (+20.7% year-over-year) for the upcoming fiscal year. The following year, analysts project $18.2B in revenue.
06When does DTE Energy Company (DTE) report its next earnings?
DTE Energy Company is expected to report its next earnings on approximately 2026-05-07. Consensus expects EPS of $2.00 and revenue of $4.5B. Over recent quarters, DTE has beaten EPS estimates 67% of the time.
07How much free cash flow does DTE Energy Company generate?
DTE Energy Company (DTE) had a free cash outflow of $243M in free cash flow over the trailing twelve months — a free cash flow margin of 1.5%. DTE returns capital to shareholders through dividends (3.0% yield) and share repurchases ($0 TTM).