Last $85.75 USD
Change Today +0.27 / 0.32%
Volume 1.9M
As of 8:04 PM 12/19/14 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

One Energy Plaza

Detroit, MI 48226

United States

Phone: 313-235-4000

Fax:

DTE Energy Company, together with its subsidiaries, operates as an energy company. Segments The company operates in the following segments: Electric, Gas, Gas Storage and Pipelines, Power and Industrial Projects, and Energy Trading. Electric segment The Electric segment consists principally of DTE Electric. The Electric segment is engaged in the generation, purchase, distribution, and sale of electricity to approximately 2.1 million residential, commercial, and industrial customers in southeastern Michigan. It generates electricity from fossil-fuel, hydroelectric pumped storage, and nuclear plants, as well as wind and other renewable assets. This segment owns and operates approximately 669 distribution substations; and approximately 428,600 line transformers. The electricity the company produces and purchases is sold to three major classes of customers: residential, commercial and industrial, throughout southeastern Michigan. DTE Electric participates in the energy market through MISO. The company is a net purchaser of power that supplements its generation capability to meet customer demand during peak cycles or during major plant outages. DTE Electric had approximately 900 MW of owned or contracted renewable energy generation, principally wind turbines located in Gratiot, Tuscola, Huron and Sanilac counties in Michigan. DTE Electric owns and operates 669 distribution substations with a capacity of approximately 33,418,000 kilovolt-amperes (kVA) and approximately 428,600 line transformers with a capacity of approximately 23,272,000 kVA. Gas segment The Gas segment consists of DTE Gas and Citizens. DTE Gas is a natural gas utility engaged in the purchase, storage, transportation, distribution and sale of natural gas to approximately 1.2 million residential, commercial and industrial customers throughout Michigan and the sale of storage and transportation capacity. Citizens distributes natural gas in Adrian, Michigan to approximately 17,000 customers. The company owns distribution, storage and transportation properties that are located in the state of Michigan. The company’s distribution system includes approximately 19,000 miles of distribution mains, approximately 1,162,000 service pipelines and approximately 1,311,000 active meters. The company owns approximately 2,000 miles of transmission pipelines that deliver natural gas to the distribution districts and interconnect its storage fields with the sources of supply and the market areas. The company owns storage properties relating to four underground natural gas storage fields with an aggregate working gas storage capacity of approximately 139 Bcf. The company leases a portion of its pipeline system to the Vector Pipeline Partnership (an affiliate) through a capital lease arrangement. Gas Storage and Pipelines segment The Gas Storage and Pipelines segment controls two natural gas storage fields, intrastate lateral and intrastate gathering pipeline systems, and has ownership interests in two interstate pipelines serving the Midwest, Ontario and Northeast markets. The pipeline and storage assets are primarily supported by long-term, fixed-price revenue contracts. Regulations: The Gas Storage and Pipelines business operates natural gas storage facilities in Michigan as intrastate facilities regulated by the MPSC and provides intrastate storage and related services pursuant to an MPSC-approved tariff. The company also provides interstate services in accordance with an Operating Statement on file with the FERC. Power and Industrial Projects segment The Power and Industrial Projects segment is comprised primarily of projects that deliver energy and utility-type products and services to industrial, commercial and institutional customers; produce reduced emissions fuel; and sell electricity from biomass-fired energy projects. This business segment provides services using project assets usually located on or near the customers' premises in the steel, automotive, pulp and paper, airport and other industries as follows: Steel and Petroleum Coke: The company produces metallurgical coke from two coke batteries with a capacity of 1.4 million tons per year. The company has an investment in a third coke battery with a capacity of 1.2 million tons per year. The company also provides pulverized coal and petroleum coke to the steel, pulp and paper, and other industries. Onsite Energy: The company provides power generation, steam production, chilled water production, wastewater treatment and compressed air supply to industrial customers. The company provides utility-type services using project assets usually located on or near the customers' premises in the automotive, airport, chemical and other industries. Wholesale Power and Renewables: The company owns and operate four biomass-fired electric generating plants with a capacity of 183 MWs. Reduced Emissions Fuel (REF): The company owns and operates nine REF facilities. The company’s facilities blend a proprietary additive with coal used in coal-fired power plants resulting in reduced emissions of Nitrogen Oxide (NO) and Mercury (Hg). Energy Trading segment The Energy Trading segment focuses on physical and financial power, gas and coal marketing and trading, structured transactions, enhancement of returns from DTE Energy’s asset portfolio, and optimization of contracted natural gas pipeline transportation and storage, and generating capacity positions. Energy Trading also provides natural gas, power and related services which include the management of associated storage and transportation contracts on the customers’ behalf under FERC Asset Management Arrangements, and the supply or purchase of renewable energy credits to various customers. The company’s customer base is predominantly utilities, local distribution companies, pipelines, producers and generators, and other marketing and trading companies. Significant Events In November, DTE Energy and Southwestern Energy Co. signed an agreement to significantly expand their relationship centered on the Bluestone Pipeline and in-field gathering system. History DTE Energy Company was founded in 1995.

 

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Industry Analysis

DTE

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Valuation DTE Industry Range
Price/Earnings 20.8x
Price/Sales 1.3x
Price/Book 1.9x
Price/Cash Flow 8.1x
TEV/Sales 0.5x
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