DTE Energy in Detroit has agreed to sell its non-utility DTE Vantage business for approximately $3 billion to institutional investors advised by the Global Infrastructure group at J.P. Morgan Asset Management, with the sale expected to close in the first half of 2027.
DTE Vantage manages and operates 59 energy projects in 14 states and one Canadian province. It employs 600 team members across three core groups: Renewable Energy, Custom Energy Solutions, and Emerging Ventures.
According to DTE, the transaction advances the utility’s long-term strategy and continued focus on customer affordability, while strengthening its ability to make significant utility investments that deliver affordable, clean, and reliable energy for the customers and communities it serves.
“DTE Vantage has been a strong non-utility business and valued part of DTE Energy for more than 30 years,” says Joi Harris, president and CEO of DTE. “This transaction advances our strategy to focus our resources on our regulated electric and gas utilities, where we see significant opportunities to invest on behalf of customers and communities.
“The sale supports our plan to deliver meaningful affordability benefits for customers, strengthens our ability to execute a substantial utility investment plan, and positions DTE as a high-growth, premium utility with a stronger long-term outlook.”
The company says it has invested nearly $4.1 billion in its utilities through the third quarter of 2026 and remains on track to invest $6.1 billion this year as part of its long-term plan to meet Michigan’s growing energy needs.
The capital investments are said to be strengthening and modernizing the company’s electric and natural gas systems and supporting the transition to cleaner power generation, helping deliver safer, cleaner, more reliable, and more affordable energy for customers today while preparing Michigan’s energy infrastructure for continued growth.
The company also reported third quarter earnings of $470 million or $2.25 per diluted share, compared with $419 million, or $2.01 per diluted share in 2025. Operating earnings for the third quarter 2026 were $481 million, or $2.30 per diluted share, compared with 2025 operating earnings of $468 million, or $2.25 per diluted share.
DTE Energy confirms 2026 operating EPS guidance of $7.59 to $7.73. DTE Energy also provided a 2027 operating EPS pro forma baseline range of $7.59-$7.73, which reflects the DTE Vantage asset sale.
“Strong financial performance through the third quarter of 2026 positions us to continue investing in Michigan’s energy infrastructure while delivering long-term value for our customers, communities and shareholders,” says David Ruud, vice chairman and CFO of DTE.
