DTE Energy has agreed to sell its non-utility DTE Vantage business to institutional investors advised by the Global Infrastructure group at J.P. Morgan Asset Management in a deal valued at approximately $3bn.
The transaction is expected to be completed in the first half of 2027.
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According to the company, the sale will help drive DTE Energy’s long-term strategy and increase its focus on core regulated electric and gas utility operations.
The company said that the divestiture would allow for a substantial increase in investment in its utilities.
DTE Energy has outlined plans to direct about $44bn of capital over the next five years towards projects intended to benefit customers.
This will include investment to meet increasing demand from data centres, which DTE states brings affordability benefits for existing customers.
DTE president and CEO Joi Harris said: “DTE Vantage has been a strong non-utility business and valued part of DTE Energy for more than 30 years.
“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.”
DTE Energy disclosed around $4.1bn capital investment in its utilities through the third quarter (Q3) of 2026.
The company remains on track to invest $6.1bn in 2026 as part of ongoing plans to update Michigan’s electric and natural gas systems and support the transition to cleaner power generation.
For Q3 of 2026, DTE Energy reported earnings of $470m, or $2.25 per diluted share, against $419m, or $2.01 per diluted share in the previous year.
Operating earnings for the quarter stood at $481m, or $2.30 per diluted share, compared with $468m, or $2.25 per diluted share a year earlier.
The company also confirmed its 2026 operating earnings per share guidance of $7.59 to $7.73 and provided a 2027 baseline range matching these figures, incorporating the impact of the DTE Vantage sale.
DTE Energy cited progress on several initiatives, including the approval of Google data centre contracts, the completion of the Cold Creek Solar Park, and the recent filing of its Integrated Resource Plan for future power generation.
