DTE Energy completed Pine River Solar Park, an 80-megawatt facility with over 180,000 solar panels, generating renewable energy for 20,000 homes.
Quiver AI Summary
DTE Energy has completed construction on the Pine River Solar Park in mid-Michigan, an 80-megawatt facility featuring over 180,000 solar panels capable of powering nearly 20,000 homes. This project highlights DTE's commitment to renewable energy, aligning with customer demand and supporting Michigan's renewable energy goals. Pine River Solar is the second of three solar parks DTE plans to connect to the grid in 2025, with additional parks already under construction. The initiative is part of DTE's MIGreenPower program, which promotes community solar energy. The project is expected to provide significant tax revenue to local communities, enhancing funding for essential services. DTE aims to power the equivalent of nearly 6 million homes with renewable energy by 2042 and has already created an estimated 20,000 jobs in Michigan through its renewable energy investments.
Potential Positives
- DTE Energy has completed the construction of the Pine River Solar Park, which will generate enough clean energy to power nearly 20,000 homes, thereby promoting renewable energy use.
- This project reflects DTE's commitment to meeting customer demand for clean energy and advancing the company's goals of achieving net zero carbon emissions by 2050 and complying with Michigan's renewable energy standard.
- The development of Pine River Solar Park is part of DTE's most active period of renewable development, reinforcing its position as Michigan's leading investor and operator of renewable energy.
- The project is expected to bring significant tax revenue to Gratiot County and Pine River Township, enhancing local community services such as roads and schools.
Potential Negatives
- Despite the completion of the Pine River Solar Park project, DTE Energy's reliance on a voluntary program (MIGreenPower) for funding may indicate issues with broader market confidence in their renewable energy initiatives.
- The announcement could be perceived as an attempt to mitigate criticism surrounding DTE Energy's progress towards achieving net zero carbon emissions, raising questions about how close they actually are to meeting their aggressive targets.
- While the press release highlights job creation and tax revenues, it does not address potential concerns regarding the environmental impact of solar farm construction and maintenance, which may lead to skepticism from environmental advocates.
FAQ
What is the capacity of the Pine River Solar Park?
The Pine River Solar Park has an 80-megawatt capacity, with over 180,000 solar panels installed.
How many homes can Pine River Solar Park supply power to?
The park will generate enough clean energy to power nearly 20,000 homes.
What is DTE's renewable energy target for 2035?
DTE aims to achieve a renewable energy standard of 60% by 2035 as part of its net zero carbon emissions goal.
How many jobs has DTE created through renewable energy investments?
DTE's investments in renewable energy have created an estimated 20,000 jobs in Michigan since 2009.
What is the MIGreenPower program?
MIGreenPower is Michigan’s largest community solar program, enabling customers to support clean energy initiatives.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$DTE Congressional Stock Trading
Members of Congress have traded $DTE stock 1 times in the past 6 months. Of those trades, 0 have been purchases and 1 have been sales.
Here’s a breakdown of recent trading of $DTE stock by members of Congress over the last 6 months:
- SENATOR JOHN BOOZMAN sold up to $15,000 on 03/19.
To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard.
$DTE Insider Trading Activity
$DTE insiders have traded $DTE stock on the open market 3 times in the past 6 months. Of those trades, 0 have been purchases and 3 have been sales.
Here’s a breakdown of recent trading of $DTE stock by insiders over the last 6 months:
- JOANN CHAVEZ (Sr VP & Chief Legal Officer) sold 7,062 shares for an estimated $935,008
- MATTHEW T. PAUL (Pres. & COO-DTE Electric Co.) sold 3,801 shares for an estimated $492,457
- TRACY J MYRICK (Chief Accounting Officer) sold 1,014 shares for an estimated $131,738
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$DTE Hedge Fund Activity
We have seen 437 institutional investors add shares of $DTE stock to their portfolio, and 311 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- MIZUHO SECURITIES USA LLC removed 7,019,372 shares (-99.7%) from their portfolio in Q4 2024, for an estimated $847,589,169
- T. ROWE PRICE INVESTMENT MANAGEMENT, INC. removed 4,700,416 shares (-75.5%) from their portfolio in Q4 2024, for an estimated $567,575,232
- CAPITAL WORLD INVESTORS added 3,766,221 shares (+123.2%) to their portfolio in Q4 2024, for an estimated $454,771,185
- NEUBERGER BERMAN GROUP LLC removed 1,367,039 shares (-54.0%) from their portfolio in Q4 2024, for an estimated $165,069,959
- CAPITAL RESEARCH GLOBAL INVESTORS removed 1,320,035 shares (-6.5%) from their portfolio in Q4 2024, for an estimated $159,394,226
- VANGUARD GROUP INC added 879,670 shares (+3.6%) to their portfolio in Q4 2024, for an estimated $106,220,152
- BALYASNY ASSET MANAGEMENT L.P. added 871,978 shares (+1794.5%) to their portfolio in Q4 2024, for an estimated $105,291,343
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$DTE Analyst Ratings
Wall Street analysts have issued reports on $DTE in the last several months. We have seen 2 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- UBS issued a "Buy" rating on 12/03/2024
- Citigroup issued a "Buy" rating on 10/28/2024
To track analyst ratings and price targets for $DTE, check out Quiver Quantitative's $DTE forecast page.
$DTE Price Targets
Multiple analysts have issued price targets for $DTE recently. We have seen 2 analysts offer price targets for $DTE in the last 6 months, with a median target of $142.5.
Here are some recent targets:
- William Appicelli from UBS set a target price of $143.0 on 12/03/2024
- Ryan Levine from Citigroup set a target price of $142.0 on 10/28/2024
Full Release
Detroit, April 25, 2025 (GLOBE NEWSWIRE) -- DTE Energy (NYSE:DTE), Michigan’s largest producer of and investor in renewable energy, announced that construction has been completed at Pine River Solar Park during a ribbon-cutting ceremony at the site today. Located in mid-Michigan’s Pine River Township, the 80-megawatt renewable energy development has more than 180,000 solar panels and will generate enough clean energy to power nearly 20,000 homes.
Pine River Solar is the second of DTE’s three new solar parks to be connected to the electric grid in 2025, and the company has five additional parks under construction. These projects are reflective of DTE’s customers’ demand for clean energy and are funded through the company’s voluntary CleanVision MIGreenPower, which is Michigan’s largest community solar program. This customer interest is also helping to fuel DTE’s progress toward its goal of achieving net zero carbon emissions and reaching Michigan’s new renewable energy standard of 60% by 2035.
“The completion of Pine River Solar will be another milestone in what has been DTE’s most active period of renewable development in its history,” said Matt Paul, president and chief operating officer, DTE Electric. “This is further evidence that DTE is the state’s leading investor and operator of renewable energy, and it also demonstrates DTE’s commitment to supporting economic development and thriving communities through local tax revenues that are improving the daily lives of our host communities’ residents.”
Since 2009, DTE’s investments in renewable energy have created an estimated 20,000 jobs in Michigan. Additionally, the new park will bring Gratiot County and Pine River Township significant added tax revenue over the life of the project, which can be used for roads, schools, first responders and other vital community services.
“We’re pleased to have developed a business relationship with DTE that began with Pine River Wind back in 2019,” said Kevin Beeson, Pine River Township supervisor. “When the company more recently approached us with their solar plans, we were confident that both sides wanted a successful project. From early planning through construction and startup, DTE was a partner willing to revise plans to accommodate resident input and township demands. Pine River Solar will further solidify DTE as our community’s largest taxpayer. We value their commitment to our township, and we look forward to their continued success in the renewable energy world.”
DTE already generates enough clean energy from wind and solar projects to power more than 750,000 homes and plans to power the equivalent of nearly 6 million homes with renewable energy by 2042. The company’s MIGreenPower program has enrolled nearly 100,000 residential and 1,600 business customers, with plans to add more than 2,400 megawatts of new wind and solar to support those enrollments over the next 10 years.
About DTE Energy
DTE Energy (NYSE:DTE) is a Detroit-based diversified energy company involved in the development and management of energy-related businesses and services nationwide. Its operating units include an electric company serving 2.3 million customers in Southeast Michigan and a natural gas company serving 1.3 million customers across Michigan. The DTE portfolio also includes energy businesses focused on custom energy solutions, renewable energy generation, and energy marketing and trading. DTE has continued to accelerate its carbon reduction goals to meet aggressive targets and is committed to serving with its energy through volunteerism, education and employment initiatives, philanthropy, emission reductions and economic progress. Information about DTE is available at dteenergy.com , empoweringmichigan.com , x.com/dte_energy and facebook.com/dteenergy .
