DTE to Sell Vantage for ~$3B; Q3 EPS Rises to $2.25
DTE Energy agreed to sell non-utility DTE Vantage for about $3 billion to J.P. Morgan Asset Management–advised investors and posted Q3 GAAP EPS of $2.25.
Detroit-based DTE Energy Co. said Thursday it has agreed to sell its non-utility DTE Vantage business for approximately $3 billion to institutional investors advised by J.P. Morgan Asset Management’s Global Infrastructure group, and reported higher third-quarter earnings, according to results filed with the Securities and Exchange Commission and posted by the company.
- DTE Vantage sale: about $3 billion; expected close in the first half of 2027
- GAAP earnings: $470 million, or $2.25 a share, vs. $419 million, or $2.01 a year earlier
- Operating earnings: $481 million, or $2.30 a share, vs. $468 million, or $2.25
- 2026 operating EPS guidance: confirmed at $7.59–$7.73
- 2027 operating EPS pro forma baseline: $7.59–$7.73, reflecting the Vantage sale
- Five-year utility CapEx plan: about $44 billion
RTT News separately reported the same sale price and quarterly figures, citing the company’s release. The deal excludes EES Coke, DTE said in its Exhibit 99.1.
Why DTE is selling Vantage
President and Chief Executive Joi Harris said Vantage has been part of DTE for more than 30 years and that the sale advances a strategy to concentrate on regulated electric and gas utilities. Proceeds are meant to support customer affordability and a larger utility investment plan, the company said. DTE has invested nearly $4.1 billion in its utilities through the third quarter and remains on track for $6.1 billion of utility investment in 2026.
Data centers, IRP and solar
The Michigan Public Service Commission approved DTE’s energy contracts with Google for a planned data center in Van Buren Township, and DTE said it is moving forward to serve two hyperscale data center customers in Michigan. Those agreements are expected to have data centers cover the full cost of related energy and grid investments while contributing to the electric system through 2045, the company said. DTE also filed an Integrated Resource Plan and completed the 100-megawatt Cold Creek Solar Park near Coldwater with Ford Motor Company’s participation in the MIGreenPower program.
Sources: DTE Energy Exhibit 99.1 (SEC), DTE Energy Form 8-K (SEC), DTE Energy Newsroom, RTT News
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