DTE Energy Company
Orin's own judgment of how firmly the evidence points one way — not the chance the price goes up.
DTE Energy's hyperscaler data-center contracts with Oracle and Alphabet provide a credible long-term growth catalyst, but the stock has already retraced from its oversold lows with RSI at 46.15 and last close of $127.24 still below both the 50-day ($133.63) and 200-day ($140.91) moving averages.
FY2025 delivered 27% revenue growth, yet operating margin compressed to 15.0% (from 16.8% in FY2024) and FCF remained negative at -$1.0B against total debt of $26.5B. At a P/E of 19.97 (3.8% above the peer median of 19.25) and EV/EBITDA of 12.72 (4.7% above the peer median of 12.15), valuation is roughly fair, while insider selling persists (a VP sold 5,000 shares at $135.71 in September 2026) and the smart money score is slightly negative at -0.02 as of the quarter ended 30 Jun.
What could go wrong
- Persistent negative FCF. FY2025 FCF of -$1.0B with capex of -$4.4B signals continued heavy capital investment ahead of revenue ramp from data-center contracts.
- Margin compression. Operating margin declined from 16.8% in FY2024 to 15.0% in FY2025 despite 27% revenue growth, suggesting cost pressures or revenue mix shift.
- High leverage. Total debt of $26.5B versus equity of $12.3B leaves limited balance sheet flexibility if data-center capex accelerates further.
- Data-center ramp timing. Hyperscaler contracts may take years to flow through earnings; Q2 2026 revenue already declined 2.4% YoY.
What would change my mind
Where this comes from: FY24 and FY25 fundamentals · FY25 fundamentals · peer comparison, 7 Oct · insider trades. Orin's read on DTE; not advice.
How has the share price moved?
Down 6.3% over twelve months, from $141.63 on 27 Oct 2025 to $132.67 at the Tue 27 Oct 2026 close. Its highest close in that time was $154.43 on 26 Jun 2026; the last close is 14.1% below it.
- Green line: the closing price each trading day.
- Grey line: the average closing price over the last 50 trading days.
- Dashed amber line: the same over the last 200 trading days — a slower, smoother line.
- Bars along the bottom: shares traded each day — green when it closed higher than the day before, rose when lower (the most, 4.7M, on 5 May 2026).
- Flags: the company's filings, on the day they were made (a 10-Q is the quarterly report and a 10-K the annual report; an 8-K reports a major event).
On file
All DTE filingsLargest holders · 13F Q2 2026
Money flow| Filer | Position | Of fund |
|---|---|---|
| BlackRock | $3.9B | 0.1% |
| Vanguard Capital Management | $1.9B | 0.0% |
| Capital Research Global Investors | $1.9B | 0.3% |
| State Street | $1.7B | 0.1% |
| Vanguard Portfolio Management | $1.7B | 0.1% |
| Capital World Investors | $1.5B | 0.2% |
| Geode Capital Management | $891.2M | 0.0% |
| Ameriprise Financial | $854.4M | 0.2% |
| Invesco | $454.6M | 0.0% |
| Bank of America | $417.0M | 0.0% |
94 of the 815 filers we track · quarter ended Q2 2026 · positions, not flows
Insiders, last 24 months: 122 Form 4 filings; open-market trades net −$1.0M. 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 →How is it priced, against its own past and its sector?
Priced at 30.9× its last 12 months of profit (Thu 5 Nov close) — higher than in all 5 of its last 5 fiscal years (middle 18.3×); the typical Utilities company on the NYSE is at 18.5×.
| Measure | Now | Its usual | Sector |
|---|---|---|---|
| P/E | 30.9×above usual | 18.3× | 18.5× |
| P/S | 1.71×near usual | 1.69× | — |
| EV/EBITDA | 7.4×below usual | 12.9× | — |
| P/B | 2.2×near usual | 2.2× | — |
- "Its usual" is the middle of its own last 5 fiscal years.
P/E: the share price divided by one year of profit per share — roughly how many years of today's profit the price pays for. A company that loses money has no P/E.
P/S: the company's total market value divided by one year of revenue. Used when there is no profit to measure.
EV/EBITDA: the price of the whole company (its shares plus its debt, minus its cash) divided by one year of operating profit before interest, tax and write-downs.
P/B: the share price divided by the book value per share — what the company owns minus what it owes, as its accounts record it. When book value is tiny, P/B swings wildly and says little.
What do the analysts who cover it publish?
The analysts' average 12-month price target is $144 (from $135 to $165) — 8% above the Tue 27 Oct close price. That is their published opinion, not Orin's.
$144
$135 – $165 · +8% against the last close
- 8 buy or overweight
- 4 hold
- 0 underweight or sell
Price target: the share price an analyst publishes for about 12 months ahead. It is the opinion of the firm that wrote it; the average is across the firms that cover the company.
Overweight / underweight: analysts' rating words: overweight means the firm expects the stock to do better than the others it covers, underweight worse. Their words, not Orin's.
How is it priced next to the companies it is compared to?
Priced at 30.9× its last 12 months of profit; the middle P/E of the 9 companies it is compared to that made a profit is 21.4×.
| Company | Market value | P/E | EV/EBITDA | Gross margin | Net margin | ROE |
|---|---|---|---|---|---|---|
| DTEDTE Energy Company | $28B | 30.9× | 7.4× | 37.2% | 5.5% | 7% |
| CMSCMS Energy Corporation | $22B | 24.2× | 13.6× | 77.2% | 9.7% | 8% |
| CNPCenterPoint Energy, Inc. | $28B | 24.0× | 12.4× | 53.3% | 11.8% | 10% |
| ETREntergy Corporation | $52B | 27.4× | 14.5× | 38.9% | 13.5% | 10% |
| LNTAlliant Energy Corporation | $18B | 22.1× | 14.6× | 42.0% | 18.4% | 11% |
| MGEEMGE Energy, Inc. | $3B | 18.1× | 12.5× | 49.0% | 20.6% | 12% |
| PEGPublic Service Enterprise Group Incorporated | $36B | 18.0× | 13.5× | 85.4% | 16.0% | 12% |
| SOThe Southern Company | $107B | 21.3× | 12.0× | 49.7% | 16.0% | 13% |
| WECWEC Energy Group, Inc. | $36B | 21.4× | 14.4× | 62.0% | 16.7% | 12% |
| XELXcel Energy Inc. | $49B | 21.3× | 13.3× | 48.8% | 15.3% | 10% |
- The list of companies is the data vendor's choice, so it can include a company a person would not have picked.
Market value: the share price times the number of shares — what the whole company is priced at.
P/E: the share price divided by one year of profit per share — roughly how many years of today's profit the price pays for. A company that loses money has no P/E.
EV/EBITDA: the price of the whole company (its shares plus its debt, minus its cash) divided by one year of operating profit before interest, tax and write-downs.
Gross margin: the share of each $1 of sales left after the direct cost of making what was sold.
Net margin: the share of each $1 of sales kept as profit after every cost. Below zero, the company lost money.
ROE: return on equity: one year of profit as a share of the shareholders' money in the business (its book value).
Is it priced high or low compared with its own past?
Priced at 30.9× its last 12 months of profit (Thu 5 Nov close). It has no full fiscal year on file since its history starts, so there is nothing of its own to compare with.
- Now30.9×
P/E: the share price divided by one year of profit per share — roughly how many years of today's profit the price pays for. A company that loses money has no P/E.
Fiscal year (FY): the company's own 12-month accounting year, which need not match the calendar year.
How has its sector been priced?
Utilities companies on the NYSE were priced at a typical 18.5× their yearly profit (Tue 27 Oct close).
- Now18.5×
- Each year is the middle of that calendar year's daily sector P/E; "Now" is the Tue 27 Oct close figure, the same one in the table above.
Sector P/E: the middle P/E of the companies in the same sector on the same stock exchange, as the data vendor works it out each day.
What does a cash-flow model say a share is worth?
It spends more cash than it brings in, so a cash-flow model gives no usable value (both versions come out below zero).
Discounted cash flow: a model's estimate of what the company is worth today, from the cash it is forecast to make in future years. Small changes in the forecast move it a lot, and it says little about a company that loses money.