DTE Energy investor update affirms 2026 operating EPS guidance and $36.5 billion capex plan

DTE Energy affirmed the high end of its 2026 operating earnings outlook and presented a larger five-year capital plan tied to data-center load and grid work in a slide deck furnished with a Monday 8-K. Shares were about $121.85 midday Tuesday, up roughly 0.8% on the day and down about 6.5% year to date.

The company said it would meet with investors on Sept. 28–29, 2026, and attached the presentation as Exhibit 99.1. The deck lists 2026 operating earnings guidance of $1.585 billion to $1.615 billion and operating EPS guidance of $7.59 to $7.73—described as 6%–8% growth over the 2025 guidance midpoint, with DTE “well positioned to achieve high end of the range due to RNG tax credits.”

Longer term, DTE restates a 6%–8% operating EPS growth-rate target through 2030 and says it is confident of reaching the high end each year, driven by RNG tax credits. Operating earnings are non-GAAP; the 8-K notes that reconciliations to 2026 reported earnings guidance are not provided because excluded items cannot be reliably forecast.

On load, the slides say a 1.4 GW Oracle data center in DTE’s plan is approved with construction started, while a 1 GW Google data center contract has been submitted to the Michigan Public Service Commission. Google “provides upside to current long-term plan,” the deck states, and affordability benefits “could support potential rate case stay-out until at least 2028.”

Capex is a centerpiece: DTE cites a $36.5 billion five-year capital plan supporting Oracle data-center development, cleaner generation, and reliability—up from a prior $30 billion 2025–2029 plan in the deck. A 2026 integrated resource plan filing later this year is flagged for generation decisions.

By the numbers

• 2026 operating earnings guidance: $1.585B–$1.615B
• 2026 operating EPS guidance: $7.59–$7.73
• Long-term operating EPS growth target: 6%–8% through 2030
• Five-year capital plan: $36.5 billion
• Data centers cited: 1.4 GW Oracle (approved, under construction); 1 GW Google (MPSC pending)
• DTE ~$121.85 midday Tuesday (~+0.8% day; ~−6.5% YTD)

Sources

1. DTE Energy Company Form 8-K (Item 7.01), accepted Sept. 28, 2026, accession 0000936340-26-000159
2. DTE Energy Company Form 8-K Exhibit 99.1 (Business Update, Sept. 28–29, 2026)

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