DTE Energy Company DTE
DTE Energy is a buy at $122.89 after a sharp sell-off has driven RSI to an extremely oversold 17.22, well below both the 50-day ($138.41) and 200-day ($141.22) moving averages. The fundamental story remains intact: FY2025 EPS reached $7.06, Q2 2026 EPS of $1.36 beat consensus by 15.8%, and recent hyperscaler data-center contracts in Michigan provide a credible growth catalyst that is not yet fully reflected at a P/S of 1.57 versus the peer median of 3.16.
While persistently negative FCF (-$1.0B in FY2025) and total debt of $26.5B warrant monitoring, the P/E of 19.29 is only 3.3% above the peer median of 18.68, and the technical washout combined with emerging institutional accumulation (CalSTRS added a large position) suggests the risk/reward has skewed favorable.
What could go wrong
- Negative free cash flow. FCF was -$1.0B in FY2025 and has been negative every year from 2021 through 2025, driven by capex of $4.4B in 2025 alone, raising financing risk if rate cases disappoint.
- Rising leverage. Total debt climbed from $18.3B in 2021 to $26.5B in FY2025 against stockholders' equity of $12.3B, a debt-to-equity ratio that could pressure the credit rating if data-center investments lag.
- Insider selling. Insiders were net sellers of approximately $7.3M over the trailing 24-month window, including a September 2026 sale by Vice Chairman Lauer at $135.71.
- Earnings volatility. Q1 2026 EPS missed estimates by 3.0% and Q2 2026 revenue declined 2.4% YoY, suggesting near-quarter execution risk amid a heavy investment cycle.
What would change my mind
Where this comes from: Technical indicators as of 2026-09-23 · Technical indicators as of 2026-09-23 · FMP fundamentals FY2025 · Earnings surprises, period ended 2026-07-28. Orin's read on DTE; not advice.
Twelve months actual closes to 2026-09-24 · actual filings
50-day average 200-day average · volume below
On file
All DTE filingsLargest holders · 13F Q2 2026
Money flow| Filer | Position | Of fund |
|---|---|---|
| Vanguard Capital Management | $1.9B | 0.0% of fund |
| Capital Research Global Investors | $1.9B | 0.3% of fund |
| State Street | $1.7B | 0.1% of fund |
| Vanguard Portfolio Management | $1.7B | 0.1% of fund |
| Capital World Investors | $1.5B | 0.2% of fund |
| Geode Capital Management | $891.2M | 0.0% of fund |
91 filers · quarter ended Q2 2026 · positions, not flows
Insiders, last 24 months: 120 Form 4 filings, net −$7.3M. Of the 50 on hand, 0 were open-market purchases and 2 sales— the rest are grants, option exercises and tax withholding.
Ask Orin about DTE
Orin answers questions about DTE from its filings, transcripts and numbers — with the source behind every claim. Your own desk starts with 3 free days, card required.
Start 3 free days →Where it trades
| Metric | Now | Own median | Sector |
|---|---|---|---|
| P/E | 19.0× | 18.3× | 25.9× |
| EV/EBITDA | 12.4× | 12.9× | — |
| P/S | 1.55× | 1.69× | — |
| P/B | 2.1× | 2.2× | — |
Its P/E sits 60th percentile of its own last 5 years (−0.24σ from its own mean).
What Wall Street published
$156
$143 – $172 · +30% against today's price
- 21 buy or overweight
- 25 hold
- 0 underweight or sell
The analysts’ consensus and their own ratings, not Orin’s. A target is a twelve-month opinion published by the firm that wrote it.
Against the companies it is compared to
| Company | Market cap | P/E | EV/EBITDA | Gross | Net | ROE |
|---|---|---|---|---|---|---|
| DTEDTE Energy Company | $25B | 19.0× | 12.4× | 36.7% | 8.1% | 11% |
| AEEAmeren Corporation | $27B | 17.3× | 11.8× | 41.1% | 17.9% | 12% |
| ATOAtmos Energy Corporation | $26B | 18.4× | 13.4× | 61.0% | 28.5% | 10% |
| CMSCMS Energy Corporation | $20B | 18.6× | 12.4× | 69.7% | 11.6% | 11% |
| ESEversource Energy | $24B | 16.5× | 9.6× | 35.2% | 10.4% | 9% |
| FEFirstEnergy Corp. | $25B | 23.0× | 11.5× | 53.4% | 6.9% | 9% |
| PPLPPL Corporation | $24B | 26.1× | 13.4× | 34.6% | 13.5% | 9% |
| SOThe Southern Company | $95B | 19.9× | 11.9× | 43.4% | 15.4% | 13% |
The median is of the 7 peers listed above and nothing else — check it against the column. This company trades 2.4% above it. The peer set is the vendor’s, so a company can appear here that a person would not have chosen.
What it has traded at
What its sector has traded at
Two scales, drawn separately on purpose: a sector median and one company’s multiple are not the same number and putting them on one axis invites a comparison neither series supports.
Discounted cash flow
| Model | Fair value | Against | Computed |
|---|---|---|---|
| Standard DCF | $-233 | $147.45 · −258% | 2026-06-10 |
| Levered DCF | $-298 | $147.45 · −302% | 2026-06-10 |
The vendor’s intrinsic-value models. Treat them as a low-growth anchor — for a fast grower the market routinely pays well above a DCF. These were computed against the price in the “against” column, not today’s.
Every estimate on one scale
The vertical rule is the current price. Ranges and point estimates are the backend’s, published as they were calculated; an arrow means the estimate sits beyond this scale, and its number is on the right.