DTE Energy appoints Casey Santos to board of directors

DETROIT - DTE Energy (NYSE:DTE), a Detroit-based diversified energy company with a market capitalization of $25.35 billion and a "Good" financial health rating according to InvestingPro, announced today the appointment of Casey Santos to its board of directors. Santos, the current chief technology officer at Caliber, brings a wealth of experience to DTE Energy, having previously led global technology and procurement teams at Asurion as their chief information officer.

Santos’s career spans over 25 years, involving executive leadership, board directorship, and advisory roles across various industries and functions. Her expertise in innovation, digital transformation, artificial intelligence, and cybersecurity is expected to contribute significantly to DTE Energy’s strategic initiatives.

Jerry Norcia, chairman and CEO of DTE Energy, expressed confidence in Santos’s ability to help the company develop the "grid of the future" and enhance the delivery of energy solutions that are safe, reliable, affordable, and environmentally sound.

Santos’s appointment aligns with her personal values, as she noted the centrality of energy to modern life and expressed eagerness to contribute to serving the energy needs of millions in Michigan and across the United States.

Before joining Asurion, Santos held technology leadership roles in the finance industry and consulted with McKinsey. Her career began as a NASA Flight Controller, where she supported over 20 space shuttle missions. Santos is an MIT graduate with dual master’s degrees from the University of Pennsylvania and has been recognized by several industry and community awards.

DTE Energy serves over 3 million customers in Michigan and is actively involved in renewable energy generation, energy marketing, and trading. The company maintains a solid 3.55% dividend yield and has remarkably maintained dividend payments for 54 consecutive years. The company is accelerating its carbon reduction goals and emphasizes community engagement through various initiatives. With its upcoming earnings report scheduled for February 13, investors can access comprehensive analysis and additional insights through InvestingPro’s detailed research reports, which cover over 1,400 US stocks including DTE Energy.

This announcement is based on a press release statement from DTE Energy. The company currently trades at a P/E ratio of 16.5 and shows relatively low price volatility with a beta of 0.68. For detailed financial analysis and additional ProTips about DTE Energy’s valuation and growth prospects, investors can explore InvestingPro’s comprehensive research platform.

In other recent news, DTE Energy has been a focal point of various analyst firms following several significant developments. The Michigan Public Service Commission (MPSC) approved a $217.4 million revenue increase for DTE Energy, as reported by BMO Capital, which subsequently lifted the company’s stock target to $125. Guggenheim, maintaining its Buy rating and a $135 target for DTE Energy, noted the MPSC’s decision to cut the company’s revenue request by 52%. Evercore ISI also maintained an Outperform rating on DTE Energy with a steady target of $136, following the approved rate hike. However, KeyBanc Capital Markets downgraded DTE Energy to Sector Weight due to concerns over recent regulatory decisions in Michigan.

Meanwhile, DTE Energy declared a quarterly dividend of $1.09 per share, further highlighting the company’s stable financial performance. These developments are part of a series of recent events that have drawn attention to DTE Energy, particularly from analyst firms such as BMO Capital, Guggenheim, Evercore ISI, and KeyBanc Capital Markets. It’s important to note that these recent developments do not provide a comprehensive view of the company but offer snapshots of its current situation based on the available information.

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