DTE Energy Company

DTE

DTE Energy (formerly Detroit Edison until 1996) is a Detroit-based diversified energy company involved in the development and management of energy-related businesses and services in the United States and Canada. Its operating units include an electric utility serving 2.2 million customers and a natural gas utility serving 1.3 million customers in Michigan. The DTE Energy portfolio includes non-utility energy businesses focused on power and industrial projects, natural gas pipelines, gathering and storage, and energy marketing and trading. In 2016, DTE announced plans to reduce carbon emissions by 80 percent by 2050, but moved up that goal by a decade, pledging to reduce emissions by 80 percent by 2040. DTE will reduce carbon emissions by 50 percent by 2030. In 2019 and 2020, DTE Electric Company and DTE Gas announced a goal to achieve net-zero carbon emissions by 2050 respectively. As of 2019, 58.56% of DTE's electricity was generated from coal, 23.72% from nuclear, 8.74% from natural gas and 8.67% from renewable energy including wind, solar and hydroelectric.On October 27, 2020, DTE announced its plan to spin-off DTE Midstream into an independent, publicly-traded business.

DTE Energy Company has been a target of short sellers for a while. The current short interest of 2.38% is roughly at the average of the last 12 months (2.24%).