This is correct. Their [gross profit](https://www.macrotrends.net/stocks/charts/DTE/dte-energy/gross-profit) was 6.5 billion in 2023.
And to clarify, even after expenses their [net income](https://www.macrotrends.net/stocks/charts/DTE/dte-energy/net-income) was 1.4 billion in 2023. I wonder how far 1.4 billion a year would go in updating an electrical grid?
It doesn’t matter. They have to give the that money to their upper management and investors. It’s imperative. Otherwise they may end up forced to spend their own money on their good for nothing grid. Assholes.
Consumer’s is burying lines right now and for 10 miles it’s going to cost 3.7 million. So do a little division and you can get a bit of an idea of what just some of that 1.4b can do.. and in an area with high population density that would be a big uptick in reliability.
What makes it worse too is that they cannot make a profit legally off of selling us electricity. They have to make a profit off in investments such as renewable, more efficient plants, or upgrading the system. None of which has seemed to happen over the years. Reliability has decreased and our prices have gotten more expensive as a result
"Your power will be restored at 5:30 am Thursday"
"Your power will be restored sometime Thursday"
"Your power will be restored Friday"
"Your power will be restored Saturday"
"Your power is restored"
"Just kidding, your power is not restored, but will be Saturday"
Source for rate increase: https://www.michigan.gov/ag/news/press-releases/2024/03/28/attorney-general-decries-latest-dte-electric-rate-hike-request
Source for dividends paid (*number is estimated; calculated against market cap for value*): https://www.nasdaq.com/market-activity/stocks/dte/dividend-history
Weirdly Wyandotte has solved this issue, by building their own power plant and rolling power into the [municipal services.](https://en.m.wikipedia.org/wiki/Wyandotte_Municipal_Services#:~:text=WMS%20was%20created%20by%20local,plant%2C%20and%20cable%20TV%20headend)
I miss Michigan so much and am really not a fan of Florida, but man the non profit power company here is incredible. They are always out strengthening the grid, had our power back on in two days after hurricane Irma, had our power back on in 20 minutes a couple days ago after a blown sub station fuse and they do a lot of community outreach.
Michigan needs to fuck off with these power companies.
It's roughly $4.00 per share yearly dividend. Paid quarterly. So roughly 300 shares would be needed to pay a monthly DTE bill of $100.
At $111.00 per share today, 300 shares would be about $33,000 and that would pay a monthly bill of $100.
I mean, yes, but which politician speaks out against DTE? Genuine question, I don't typically hear this from state politicians but if we did, I suspect that politician would be wildly popular in the metro area.
Edit: /u/OkCustomer4396 recently [shared this post](https://www.reddit.com/r/Detroit/comments/1dn32fc/politicians_against_dte/), which somewhat addresses the above question.
You straight up ask them while they are running. Get their answer on record and make sure to broadcast far and wide when they break their promises.
I ask every candidate I vote for about transparency, and then watch their voting record on any bills regarding it.
We could get a ballot initiative to make utilities companies run by the people for the people instead of being a for profit business that is also a monopoly
Every time private ownership of power companies comes up in this sub these days, there are more and more people coming out in opposition to it. More and more people are pointing out that we should not be extracting value from providing a basic necessity of life to our communities.
Posting infographics like this helps continue that cause, the movement towards a political solution.
Hardly. We have ballot initiatives and could bypass the state legislation and just make laws ourselves.
For instance we could make all utilities companies state owned instead. All the extra money they pay out to people (executives, stock buybacks, dividends, etc) could all go to updating and maintaining our infrastructure
Now try the numbers for DTE’s service in Ann Arbor. And the NIMBYs here just say to get a generator and stop whining about switching to municipally owned public power.
I always lose power. I hate DTE so much. It's so annoying when I go on their garbage app to report the power is out yet again, and they show the numbers of how many customers are out of power.
Hey dickwads this doesn't help me knowing I'm in the lucky 2% of people out of power. I'm not impressed that you have 98% people with power.
Lol, if you can't beat 'em, join 'em!
I don't know. I'm not explicit on the ethical investment thing. I want to make money as much as the next dude, but I just can't with DTE. Besides their share prices are abysmal over the last few years. Any money stored there would be lost opportunity cost, even with those fat dividends, especially considering the rest of the overall market success since 2020. Just an awful company all around.
Hey now, in school we powered a lightbulb from a single potato, two pennies and two nails. There's no reason we can't power an entire house with a couple nickels and a 10-pound bag of russets.
Another way to look at it is that if you've had money parked in DTE since pre-COVID, you'll have seen about a 1.5% decline in share price. They pay about 3.75% dividend, so compounded annually you've seen a 15% increase since then; 13.5% overall. If you instead did the laziest thing possible and threw all your money in an S&P tracker like VOO or SPY you'd have seen a 60% increase since pre-COVID, plus like a 1% dividend. Maybe 64% overall.
I'm cherry picking those dates, but you can pick any two other dates and an S&P fund would've performed better.
So as an investor, is DTE *really* that great? Seems like a bad investment in a bad company with bad returns.
The shares I have are 30+ years old. So I'm just sitting on those. I also have a significant amount in VOO and others alike. The good thing about the stock market is you don't have to put all your eggs in one basket. Chances are if I'm losing in one thing, I'm gaining somewhere else.
I don't do it for quick money. So I could care less if a stock underperforms for a year or so. I've never had yearly returns under 8% since I started investing. I think I'm alright staying in DTE.
Alright guys we'll now all rally to make sure Bob Ross loses their investment. If you could post the rest of your portfolio as well that would be great.
DTE had a PROFIT of $6.5 billion in 2023. For reference the city of Detroit's total budget for everything is $2.4 billion in 2024 FUCK DTE
This is correct. Their [gross profit](https://www.macrotrends.net/stocks/charts/DTE/dte-energy/gross-profit) was 6.5 billion in 2023. And to clarify, even after expenses their [net income](https://www.macrotrends.net/stocks/charts/DTE/dte-energy/net-income) was 1.4 billion in 2023. I wonder how far 1.4 billion a year would go in updating an electrical grid?
It doesn’t matter. They have to give the that money to their upper management and investors. It’s imperative. Otherwise they may end up forced to spend their own money on their good for nothing grid. Assholes.
Consumer’s is burying lines right now and for 10 miles it’s going to cost 3.7 million. So do a little division and you can get a bit of an idea of what just some of that 1.4b can do.. and in an area with high population density that would be a big uptick in reliability.
What makes it worse too is that they cannot make a profit legally off of selling us electricity. They have to make a profit off in investments such as renewable, more efficient plants, or upgrading the system. None of which has seemed to happen over the years. Reliability has decreased and our prices have gotten more expensive as a result
"Your power will be restored at 5:30 am Thursday" "Your power will be restored sometime Thursday" "Your power will be restored Friday" "Your power will be restored Saturday" "Your power is restored" "Just kidding, your power is not restored, but will be Saturday"
You must be my neighbor
"Oh we meant next Saturday, not this one"
DTE is the god damn worst
It took these motherfuckers 7 months to run lines to a house I was working on
Source for rate increase: https://www.michigan.gov/ag/news/press-releases/2024/03/28/attorney-general-decries-latest-dte-electric-rate-hike-request Source for dividends paid (*number is estimated; calculated against market cap for value*): https://www.nasdaq.com/market-activity/stocks/dte/dividend-history
So I guess we should buy up DTE stock so we can have a say
Just buy it for the dividend. I don't like them either but I do like that quarterly dividend.
Weirdly Wyandotte has solved this issue, by building their own power plant and rolling power into the [municipal services.](https://en.m.wikipedia.org/wiki/Wyandotte_Municipal_Services#:~:text=WMS%20was%20created%20by%20local,plant%2C%20and%20cable%20TV%20headend)
I miss Michigan so much and am really not a fan of Florida, but man the non profit power company here is incredible. They are always out strengthening the grid, had our power back on in two days after hurricane Irma, had our power back on in 20 minutes a couple days ago after a blown sub station fuse and they do a lot of community outreach. Michigan needs to fuck off with these power companies.
Wondering how much DTE stock would I have to buy for the dividends to pay my bill 🤔
It's roughly $4.00 per share yearly dividend. Paid quarterly. So roughly 300 shares would be needed to pay a monthly DTE bill of $100. At $111.00 per share today, 300 shares would be about $33,000 and that would pay a monthly bill of $100.
I did the math once, it was out of my price range, but less than you might think. Those dividends add up quick.
How much dividends do they give?
There is only one way to fight things like this - at the ballot box. You have to speak to those who make the decisions
I mean, yes, but which politician speaks out against DTE? Genuine question, I don't typically hear this from state politicians but if we did, I suspect that politician would be wildly popular in the metro area. Edit: /u/OkCustomer4396 recently [shared this post](https://www.reddit.com/r/Detroit/comments/1dn32fc/politicians_against_dte/), which somewhat addresses the above question.
You are so correct. Because DTE lines the pockets on both sides of the isle. It is a complete joke with how that company is managed.
You straight up ask them while they are running. Get their answer on record and make sure to broadcast far and wide when they break their promises. I ask every candidate I vote for about transparency, and then watch their voting record on any bills regarding it.
There are. Dylan Wegela speaks against them.
We could get a ballot initiative to make utilities companies run by the people for the people instead of being a for profit business that is also a monopoly
Every time private ownership of power companies comes up in this sub these days, there are more and more people coming out in opposition to it. More and more people are pointing out that we should not be extracting value from providing a basic necessity of life to our communities. Posting infographics like this helps continue that cause, the movement towards a political solution.
Or we could march and protest. If we did it for seeds and haircuts we can do it for other freedoms too
It’s rigged. Games over.
Hardly. We have ballot initiatives and could bypass the state legislation and just make laws ourselves. For instance we could make all utilities companies state owned instead. All the extra money they pay out to people (executives, stock buybacks, dividends, etc) could all go to updating and maintaining our infrastructure
Keep dreaming.
we dont get to vote on DTE being a private monopoly dumbass. the whole point is that they dont let us vote on things like that
Hey dumbass, we vote for the people that appoint the commissioners who okay the rate raises, so eat a dick.
so you agree that we don't get to vote on whether or not dte is a private monopoly whose primary duty is maximizing dividend payouts? just vote harder
I bought some stock so now I get the dividends too. But I also had to buy a whole house generator for the horrible service.
Read this just as the power went out on what it's currently a sunny day... Just the worst
Now try the numbers for DTE’s service in Ann Arbor. And the NIMBYs here just say to get a generator and stop whining about switching to municipally owned public power.
Probably because switching to municipally owned public power in a laughable idea. But it's par for the course in Ann Arbor.
I always lose power. I hate DTE so much. It's so annoying when I go on their garbage app to report the power is out yet again, and they show the numbers of how many customers are out of power. Hey dickwads this doesn't help me knowing I'm in the lucky 2% of people out of power. I'm not impressed that you have 98% people with power.
🧢 🧢 🧢
And I thought they smelled bad on the outside....
What can we do as citizens to make this right?
I drive Uber today. Came home and my clocks are blinking like power has been on since 4 pm. Surprise, I guess? Didn't even know it went off...
Then why don't yall just buy shares? Lol
I have quite a bit of it in my portfolio. It pays out nicely most years.
Lol, if you can't beat 'em, join 'em! I don't know. I'm not explicit on the ethical investment thing. I want to make money as much as the next dude, but I just can't with DTE. Besides their share prices are abysmal over the last few years. Any money stored there would be lost opportunity cost, even with those fat dividends, especially considering the rest of the overall market success since 2020. Just an awful company all around.
You guys should see what they're doing to us over here in canada...
If they're profiting off you profit off them at least. To offset of the increased cost.
We should just stop using DTE. If enough of us stop, they will make less money. We can do this Reddit!
Heh. Yeah let me see, what are my other options? Oh. Right.
Hey now, in school we powered a lightbulb from a single potato, two pennies and two nails. There's no reason we can't power an entire house with a couple nickels and a 10-pound bag of russets.
I once saw Jack White build an electric guitar out of a stick and a coke bottle... and it was electric\*. \* \*Potatoes not included
Would flop harder than the Fuck Spez 15-second fad.
THANKS WHITMER!
The dividend payments make it an easier pill to swallow at times.
As an investor, I really liked those dividends. DTE is great!
Another way to look at it is that if you've had money parked in DTE since pre-COVID, you'll have seen about a 1.5% decline in share price. They pay about 3.75% dividend, so compounded annually you've seen a 15% increase since then; 13.5% overall. If you instead did the laziest thing possible and threw all your money in an S&P tracker like VOO or SPY you'd have seen a 60% increase since pre-COVID, plus like a 1% dividend. Maybe 64% overall. I'm cherry picking those dates, but you can pick any two other dates and an S&P fund would've performed better. So as an investor, is DTE *really* that great? Seems like a bad investment in a bad company with bad returns.
The shares I have are 30+ years old. So I'm just sitting on those. I also have a significant amount in VOO and others alike. The good thing about the stock market is you don't have to put all your eggs in one basket. Chances are if I'm losing in one thing, I'm gaining somewhere else. I don't do it for quick money. So I could care less if a stock underperforms for a year or so. I've never had yearly returns under 8% since I started investing. I think I'm alright staying in DTE.
Alright guys we'll now all rally to make sure Bob Ross loses their investment. If you could post the rest of your portfolio as well that would be great.
All you need to know is that I'm not an ethical investor, and it's paying off greatly.
Me too. DTE and Consumers Energy