Summary
DTE Energy Company's 2012 10-K filing reveals a stable utility business with regulated electric and gas operations serving Michigan, alongside diversified non-utility energy-related businesses. The company generated approximately $8.8 billion in operating revenues, with net income attributable to DTE Energy Company of $610 million. The Electric segment, primarily DTE Electric, is the largest revenue generator, serving over 2 million customers. DTE Gas serves over 1 million customers. The non-utility segments include Gas Storage and Pipelines, Power and Industrial Projects, and Energy Trading, which contribute to earnings diversity. The company's strategy focuses on long-term earnings growth, maintaining a strong balance sheet, and delivering an attractive dividend yield. Growth for the regulated utilities is expected to be driven by mandated environmental and renewable investments, alongside base infrastructure improvements. Non-utility growth opportunities are being pursued in Gas Storage and Pipelines and Power and Industrial Projects, with disciplined investment criteria. DTE Energy emphasizes operational excellence, customer satisfaction, and affordability in its regulated operations, while navigating a constructive regulatory environment.
Financial Highlights
50 data points| Revenue | $8.79B |
| Operating Expenses | $7.51B |
| Operating Income | $1.28B |
| Interest Expense | $440.00M |
| Net Income | $610.00M |
| EPS (Basic) | $3.56 |
| EPS (Diluted) | $3.55 |
| Shares Outstanding (Basic) | 171.00M |
| Shares Outstanding (Diluted) | 171.00M |
Key Highlights
- 1DTE Energy reported operating revenues of approximately $8.8 billion and net income of $610 million for the year ended December 31, 2012.
- 2The Electric segment, driven by DTE Electric, is the largest contributor to revenue, serving 2.1 million electricity customers in southeastern Michigan.
- 3DTE Gas serves 1.2 million natural gas customers across Michigan.
- 4The company's non-utility businesses include Gas Storage and Pipelines, Power and Industrial Projects, and Energy Trading, providing diversification.
- 5DTE Energy plans significant capital investments of approximately $4.7 billion for DTE Electric and $1.05 billion for DTE Gas between 2013-2017, focusing on infrastructure, environmental compliance, and renewables.
- 6The company is subject to extensive environmental regulations and is incurring significant costs for compliance, particularly related to air emissions.
- 7DTE Energy maintained a strong balance sheet, with long-term debt of $7.014 billion and shareholders' equity of $7.373 billion at December 31, 2012.