Source Pravda.Ru

DTE Energy Co announces upswing

DTE Energy Co announces upswing
DTE Energy Co announces upswing

One of the biggest utilities involved in the development and management of energy-related businesses and services nationwide experiences an unexpected upswing.

DTE Energy Co reported on Monday that its total 2007 earnings exceeded the planned target with its prices jumping from $2.50 to $2.65 a share.

The company has made some forecasts for 2009, expecting its largest operating subsidiaries, Detroit Edison and Michigan Consolidated Gas Co. (MichCon), would return $410 million and $95 million agreeably.

DTE Energy also expects an increase of 2009 operating earnings from $105 million to $130 million in its non-utility businesses and a reduction of operating loss from $75 million to $80 million.

The company’s shares gained 48 cents, or about 1%, at $44.78.