DTE Energy Company delivered a strong financial performance in the first half of 2025, reporting Net Income Attributable to DTE Energy Company of $674 million, an increase from $635 million in the prior year period. For the second quarter of 2025, the Electric segment's net income was $318 million, up from $278 million in Q2 2024. This increase was primarily driven by new rates and the timing of tax benefits.
Operating revenues for utility operations in the Electric segment increased to $1,682 million in Q2 2025 from $1,611 million in Q2 2024, boosted by interconnection sales and new rate implementations. The Gas segment's six-month net income rose to $212 million from $166 million, reflecting favorable weather and rate implementation. DTE Vantage's six-month net income surged to $70 million from $41 million, significantly benefiting from 45Z production tax credits and custom energy solutions, while Energy Trading contributed $51 million, up from $40 million, due to robust margins.
The company is well-positioned to achieve the higher end of its full-year operating EPS guidance of $7.09 to $7.23. DTE maintains a robust financial health with an FFO to debt ratio consistently at 15%, aligning with its target of 15-16%. This strong cash flow generation supports a massive $30 billion capital investment plan over the next five years, with $24 billion allocated to DTE Electric and $4 billion to DTE Gas.
Management projects a long-term operating EPS growth rate of 6% to 8% from a 2025 base, with the extension of 45Z production tax credits for Renewable Natural Gas projects through 2029 providing additional confidence. DTE anticipates modest equity issuances of $0 to $100 million annually through 2027. The company's 2025 annualized dividend stands at $4.36 per share, underscoring its commitment to growing shareholder returns in line with EPS.
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