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DTE Energy Co. (NYSE:DTE), a $28.32 billion utility company with a Fair Value rating indicating slight overvaluation according to InvestingPro analysis, reported Friday that the U.S. District Court for the Eastern District of Michigan granted partial summary judgment on liability against its wholly owned subsidiary, EES Coke Battery, LLC, in an ongoing environmental case related to the Clean Air Act. The information was disclosed in a press release statement based on a filing with the Securities and Exchange Commission.
The case stems from a series of actions by the U.S. Environmental Protection Agency (EPA) and the Department of Justice (DOJ) dating back to 2019. The EPA initially alleged that permits issued to EES Coke in 2008 and 2014 by the Michigan Department of Environment, Great Lakes, and Energy (EGLE) did not comply with federal air standards. Further allegations in 2020 claimed that sulfur dioxide emissions in 2018 and 2019 exceeded projections, violating non-attainment new source review permitting requirements.
In June 2022, the DOJ filed a complaint against EES Coke, and in November 2022, the Sierra Club and the City of River Rouge joined the case as intervenors. On May 20, 2024, the court allowed the DOJ to amend its complaint, adding DTE Energy and other parent entities as defendants to potentially share in any liability, though no new claims were introduced.
On August 25, 2025, the court granted the EPA’s motion for partial summary judgment on liability. EES Coke has stated its intention to appeal the determination and has requested certification for an interlocutory appeal to the Sixth Circuit Court of Appeals.
A trial focused on remedies, including potential penalties requested by the EPA, is scheduled to begin on September 15, 2025. With a total debt of $23.99 billion and a current ratio of 0.94, potential penalties could impact DTE Energy’s financial position. The company stated it cannot predict the outcome or financial impact of the matter at this time. InvestingPro subscribers can access detailed financial health metrics and 6 additional exclusive ProTips about DTE’s financial outlook.
All information in this article is based on a press release statement and the company’s filing with the SEC.
In other recent news, DTE Energy reported its second-quarter 2025 earnings, revealing operating earnings of $283 million or $1.36 per share. This result fell short of analysts’ expectations, which had forecasted earnings per share of $1.48. The revenue forecast for the quarter was $2.65 billion, though the actual revenue figures were not disclosed. Mizuho raised its price target on DTE Energy to $151.00 from $145.00, maintaining an Outperform rating, citing the company’s data center growth potential. Additionally, BMO Capital increased its price target for DTE Energy to $144.00 from $140.00 while maintaining a Market Perform rating. UBS reiterated its Buy rating with a $148.00 price target, despite concerns regarding the Michigan Public Service Commission Staff’s recommendation in the company’s electric rate case. The recommendation suggested a rate base that is 98% of DTE’s request, approximately $0.5 billion less than proposed by the company. These developments highlight the ongoing interest and analysis from financial firms regarding DTE Energy’s performance and potential.
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