DTE Energy (DTE) 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.

The Detroit-based energy company said the transaction advances its long-term strategy and focus on customer affordability and supports a substantial increase in investment in its electric and gas utilities, which it said will total approximately $44 billion of customer-focused capital planned over the next five years. The sale includes primarily all DTE Vantage assets except EES Coke.

President and CEO Joi Harris said DTE Vantage had been a strong non-utility business and valued part of DTE Energy for more than 30 years. He said the transaction advances a strategy to focus resources on the regulated electric and gas utilities, where the company sees significant opportunities to invest on behalf of customers and communities.

The company 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. It said the capital investments are strengthening and modernizing its electric and natural gas systems and supporting the transition to cleaner power generation.

Following Michigan Public Service Commission approval of DTE’s energy contracts with Google for a planned data center in Van Buren Township, the company said it is moving forward to serve two hyperscale data center customers in Michigan. It said those agreements are expected to deliver significant affordability benefits, with data centers covering the full cost of the energy and grid investments needed to serve them, while contributing billions of dollars to the electric system through 2045.

DTE Electric filed its 20-year Integrated Resource Plan with the Michigan Public Service Commission. The company said the plan calls for a balanced mix of renewable energy, energy storage, nuclear and natural gas, maintains a commitment to end coal use in 2032, reduces carbon dioxide emissions by 84% and is projected to cost $3.5 billion less than the company’s previous IRP. Through Ford’s participation in MIGreenPower, DTE completed the 100-megawatt Cold Creek Solar Park near Coldwater.

Reported earnings for the three months ended Sept. 30, 2026 were $470 million, or $2.25 a share, compared with $419 million, or $2.01 a share, a year earlier. Operating earnings were $481 million, or $2.30 a share, versus $468 million, or $2.25 a share, a year earlier. Operating earnings exclude non-recurring items, certain mark-to-market adjustments and discontinued operations.

The DTE Electric segment posted operating earnings of $468 million, or $2.24 a share, compared with $541 million, or $2.60 a share, a year earlier. DTE Gas posted a $30 million operating loss, or $0.14 a share, versus a $38 million loss, or $0.18 a share, a year earlier. DTE Vantage operating earnings were $110 million, or $0.53 a share, compared with $41 million, or $0.19 a share, a year earlier. Energy Trading operating earnings were $34 million, or $0.16 a share, versus $23 million, or $0.11 a share, a year earlier. Corporate and Other operating earnings were a $101 million loss, or $0.49 a share, compared with a $99 million loss, or $0.47 a share, a year earlier.

DTE Energy confirmed 2026 operating EPS guidance of $7.59 to $7.73. It also provided a 2027 operating EPS pro forma baseline range of $7.59 to $7.73, which reflects the DTE Vantage asset sale. That 2027 range is reflective of closing the Vantage transaction by year-end 2026 and is subject to change based on impacts from discontinued operations, actual closing timing and the timing of deployment of sale proceeds.

Lazard is acting as exclusive financial advisor to DTE Energy, and Kirkland & Ellis LLP is acting as legal advisor.