Source Pravda.Ru

DTE Energy Co announces upswing

Business
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.

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