DTE Energy (DTE)

NYSEUtilitiesRegulated ElectricSnapshot 2026-10-15

$129.73+1.09%

Close 2026-10-16 · 1-day change

Read the published Living FV report summary

Investment OutlookAs of Oct 15, 2026

What could strengthen or challenge DTE Energy’s outlook?

The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Jul 8, 2026.

Higher potential upsideImproving expectations

Next-FY EPS estimate change · 30 days

+0.0%

+10% or more+5%0%−5%−10% or less

8.35 → 8.35 EPS · FY ending Dec 31, 2027 · 11 analysts

Higher risk of downsideWeakening expectations

One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.

How this is measured

Change in the same fiscal period’s mean EPS estimate from Sep 15, 2026 to Oct 15, 2026: (new ÷ prior − 1). Contributor count changed from 10 to 11; this is not the number of analysts revising. Source: FMP consensus snapshots. The ±10% axis is a display range.

Living FV™

Living Fair Value by QuarterlyIQ

A valuation that evolves as the business changes.

A published Living FV snapshot is not available yet. The valuation workflow remains discoverable; a market target cannot supply the missing evidence.

View Living FV report and workflow

What the Thesis Depends On

Three key conditions need to be met for the investment thesis to play out.

Key Factor	Why It Matters	Current Status	Break Condition	Latest Evidence
Progress data center projects for Oracle and Google	A supporting condition in DTE Energy's published investment case. The stated target is Sustain progress on data center development.	Intact	Data center projects stall or cancel	Qualitative condition This condition has no defined numerical measure. Context reviewed through Oct 15, 2026Last status assessment Oct 15, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Improve electric reliability in Michigan	The company is improving electric reliability.	Under Pressure	Power outages remain high or increase over next year	Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Source date unavailableLast status assessment Oct 15, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Achieve high end of 2026 EPS guidance range	A primary condition in DTE Energy's published investment case. The stated target is >= $7.73 EPS.	Under Pressure	EPS falls below $7.59 in 2026	Diluted EPS: $1.35 per share FY2026-Q2; GAAP. Published target: >= $7.73 EPS. Target period ends 2026-12-31; this observation covers 2026-Q2. Source published Jul 28, 20261.35 USD/share · source valueSource reportLast status assessment Oct 15, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: company_financial_results. Reference: 29124ae5-61ec-432f-a051-0b55207714e3. Source status: eligible. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management context Stated as a priority in 5 of last 5 quarters. DTE Energy confirmed 2026 operating EPS guidance of $7.59 to $7.73, targeting the high end due to RNG tax credits and data center projects. The guidance midpoint of $7.66 represents about 7% growth over 2025 guidance midpoint of $7.16. Reported diluted EPS grew from $1.19 in 2026-Q1 to $1.35 in 2026-Q2. The trajectory matches management's stated confidence in achieving the high end of the guidance range. Delivery assessment Oct 15, 2026

Stored thesis · Jul 8, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.

Incoming Evidence

Compare these dated observations with the operating requirements above

Expectations trend

Same fiscal period

FY2027 · fiscal year ending 2027-12-31 · fmp

FY2027 EPS$8.35

$8.34 → $8.35 · observed estimates

FY2027 revenue$16.52B

$16.55B → $16.52B · observed estimates

Exact estimates & source dates

One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.

FY2027 estimate observations · fmp
Snapshot	EPS	Revenue	EPS / revenue analysts
2026-07-24	$8.34	$16,547,085,779	11 / 10
2026-07-25	$8.36	$16,665,679,020	17 / 12
2026-07-26	$8.36	$16,665,679,020	17 / 12
2026-07-27	$8.36	$16,665,679,020	17 / 12
2026-07-28	$8.34	$16,494,012,349	11 / 9
2026-07-29	$8.37	$16,553,810,109	16 / 11
2026-07-30	$8.35	$16,559,516,558	11 / 9
2026-07-31	$8.37	$16,625,269,250	16 / 11
2026-08-01	$8.35	$16,559,516,558	11 / 9
2026-08-02	$8.36	$16,625,248,339	16 / 11
2026-08-03	$8.36	$16,625,248,339	16 / 11
2026-08-04	$8.35	$16,559,516,558	11 / 9
2026-08-05	$8.35	$16,559,516,558	11 / 9
2026-08-06	$8.36	$16,625,248,339	16 / 11
2026-08-07	$8.35	$16,559,516,558	11 / 9
2026-08-08	$8.36	$16,495,294,310	16 / 12
2026-08-09	$8.36	$16,495,294,310	16 / 12
2026-08-10	$8.35	$16,559,516,558	11 / 9
2026-08-11	$8.36	$16,495,294,310	16 / 12
2026-08-12	$8.35	$16,559,516,558	11 / 9
2026-08-13	$8.36	$16,495,294,310	16 / 12
2026-08-14	$8.35	$16,559,516,558	11 / 9
2026-08-15	$8.35	$16,559,516,558	11 / 9
2026-08-16	$8.35	$16,559,516,558	11 / 9
2026-08-17	$8.35	$16,559,516,558	11 / 9
2026-08-18	$8.35	$16,559,516,558	10 / 9
2026-08-19	$8.35	$16,559,516,558	10 / 9
2026-08-20	$8.35	$16,482,822,388	10 / 9
2026-08-21	$8.35	$16,482,822,388	10 / 9
2026-08-22	$8.35	$16,482,822,388	10 / 9
2026-08-23	$8.35	$16,482,822,388	10 / 9
2026-08-24	$8.35	$16,482,822,388	10 / 9
2026-08-25	$8.35	$16,482,822,388	10 / 9
2026-08-26	$8.35	$16,482,822,388	10 / 9
2026-08-27	$8.35	$16,482,822,388	10 / 9
2026-08-28	$8.35	$16,482,822,388	10 / 9
2026-08-29	$8.35	$16,482,503,856	10 / 9
2026-08-30	$8.35	$16,482,503,856	10 / 9
2026-08-31	$8.35	$16,482,503,856	10 / 9
2026-09-01	$8.35	$16,482,503,856	10 / 9
2026-09-02	$8.35	$16,482,503,856	10 / 9
2026-09-03	$8.35	$16,482,503,856	10 / 9
2026-09-04	$8.35	$16,482,503,856	10 / 9
2026-09-05	$8.35	$16,482,503,856	10 / 9
2026-09-06	$8.35	$16,482,503,856	10 / 9
2026-09-07	$8.35	$16,482,503,856	10 / 9
2026-09-08	$8.35	$16,482,503,856	10 / 9
2026-09-09	$8.35	$16,482,503,856	10 / 9
2026-09-10	$8.35	$16,482,503,856	10 / 9
2026-09-11	$8.35	$16,482,503,856	10 / 9
2026-09-12	$8.35	$16,482,503,856	10 / 9
2026-09-13	$8.35	$16,482,503,859	10 / 9
2026-09-14	$8.35	$16,482,503,859	10 / 9
2026-09-15	$8.35	$16,482,503,859	10 / 9
2026-09-16	$8.35	$16,482,503,856	10 / 9
2026-09-17	$8.35	$16,482,503,856	10 / 9
2026-09-18	$8.35	$16,482,503,856	10 / 9
2026-09-19	$8.35	$16,482,503,856	10 / 9
2026-09-20	$8.35	$16,482,503,856	10 / 9
2026-09-21	$8.35	$16,482,503,856	10 / 9
2026-09-22	$8.35	$16,482,503,856	10 / 9
2026-09-23	$8.35	$16,482,503,856	10 / 9
2026-09-24	$8.35	$16,482,503,856	10 / 9
2026-09-25	$8.35	$16,482,503,859	10 / 9
2026-09-26	$8.35	$16,482,503,859	10 / 9
2026-09-27	$8.35	$16,482,503,859	10 / 9
2026-09-28	$8.35	$16,482,503,859	10 / 9
2026-09-29	$8.35	$16,521,503,859	10 / 9
2026-09-30	$8.35	$16,521,503,859	10 / 9
2026-10-01	$8.35	$16,521,470,934	10 / 9
2026-10-02	$8.35	$16,521,470,934	10 / 9
2026-10-03	$8.35	$16,521,470,934	11 / 9
2026-10-04	$8.35	$16,521,470,934	11 / 9
2026-10-05	$8.35	$16,521,470,934	11 / 9
2026-10-06	$8.35	$16,521,470,934	11 / 9
2026-10-07	$8.35	$16,521,470,934	11 / 9
2026-10-08	$8.35	$16,521,470,934	11 / 9
2026-10-09	$8.35	$16,521,503,859	11 / 9
2026-10-10	$8.35	$16,521,503,859	11 / 9
2026-10-11	$8.35	$16,521,503,859	11 / 9
2026-10-12	$8.35	$16,521,503,859	11 / 9
2026-10-13	$8.35	$16,521,503,859	11 / 9
2026-10-14	$8.35	$16,522,978,858	11 / 9
2026-10-15	$8.35	$16,524,375,348	11 / 9

Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.

Compare required revenue and earnings

Analyst view

Monthly observations

Buy / Strong BuyHoldSell / Strong Sell

Exact monthly counts

Monthly rating snapshots · fmp. Missing snapshots are not zero.
Date	Buy*	Hold
2026-05-01	11	7
2026-06-01	11	7
2026-07-01	11	8
2026-08-01	11	7
2026-09-01	11	7
2026-10-01	10	7

*Buy includes Strong Buy; Sell includes Strong Sell. Monthly counts describe the analyst mix, not the firms behind each recent action.

Latest: 10 Buy / Strong Buy · 7 Hold · 0 Sell / Strong Sell

0 upgrades0 downgrades4 maintains

Recent actions · Sep 16–Oct 15 · 4 recorded

Price-target changes

30 days

○ Previous · ● Latest · common dollar scale

BMO CapitalOct 5 · prior Sep 29

$132.00 → $134.00+1.5%

Mizuho SecuritiesSep 28 · prior Aug 27

$152.00 → $136.00-10.5%

$0$83.60$167.20

1 raises · 1 cuts · 0 unchanged · 0 without a comparable prior

How this is measured

Sep 16, 2026–Oct 15, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.

Outlook in Brief

The evidence, the remaining questions, and what comes next

What's improving

No recovery evidence is reported in the available driver assessments.

Still unresolved / key risks

Progress data center projects for Oracle and GoogleQualitative condition
Improve electric reliability in MichiganPublished status: Under Pressure
Achieve high end of 2026 EPS guidance rangePublished status: Under Pressure

Next proof point

Oct 29, 2026

Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.

Review earnings

Bottom line

3 of 3 published conditions remain under pressure or need verification. The next results need to address those conditions.

The dated weekly assessment and its assumptions are available in Read detailed Outlook.

Historical risk context

Observed price history; separate from operating scenarios

Price sensitivity

0.8%Typical daily move · historical

Downside history

-21.6%Maximum drawdown · trailing year

Read detailed Outlook Company context, assumptions & risks

DTE Energy outlook in detail

The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.

Updated Oct 10, 2026

What kind of bet this is

This investment represents a stable utility with a focus on long-term infrastructure and growth projects. The current thesis state is cautious, reflecting recent changes in confidence and mixed financial results.

What's priced into DTE Energy

The market appears to have priced in a justified valuation, with expectations slightly below the average for its peers. There is a low fragility tier, indicating that the current valuation is not overly sensitive to immediate changes.

What the fundamentals likely do

Fundamentals are expected to remain stable, with management focused on achieving the high end of their operating EPS guidance. However, recent financial performance has been neutral, and there is a low probability of missing earnings expectations.

What DTE Energy hinges on

The long-term thesis hinges on several factors, including potential Federal Reserve rate cuts, guidance updates from management, and performance of sector peers like NEE, SO, and DUK. Positive developments in these areas could support growth.