DTE Energy (DTE) reported net income of $470 million in the third quarter of 2026, or $2.25 per diluted share (EPS), compared with $419 million, or $2.01 per share, in the same period of 2025. In the same filing, the company announced an agreement to sell its non-regulated business DTE Vantage for about $3 billion.
Adjusted operating earnings (non-GAAP, excluding non-recurring items, certain mark-to-market adjustments and discontinued operations) were $481 million, or $2.30 per share, versus $468 million, or $2.25 per share, in 2025.
The buyers are institutional investors advised by the Global Infrastructure group of J.P. Morgan Asset Management. The agreement was signed on November 1, 2026, with a value of $2,970,672,573, subject to closing adjustments. Completion is expected in the first half of 2027 and cannot occur before December 31, 2026. It depends on regulatory approvals, and the buyer's obligation is not contingent on financing. In specific termination scenarios, the buyer will pay DTE a fee of $148,533,628.65. According to the company, the proceeds will be invested in the regulated electric and gas operations, reducing equity and debt needs. $500 million of shares issued in 2026 under forward contracts were deferred to 2027.
DTE plans to invest about $44 billion in its utilities over the next five years. The company confirmed its 2026 adjusted operating earnings per share guidance of $7.59 to $7.73 and indicated the same range as a pro forma base for 2027, already reflecting the sale of Vantage. It also expects a 7% dividend increase in 2027.
