DTE Energy targets $148 price as analysts eye data center growth potential

The Detroit utility is quietly becoming one of the biggest beneficiaries of the AI data center buildout, locking in massive power contracts with Oracle and Google.

by Editorial Team

Fri 18 Sep 2026 · 13:49 EDT 2 min read

In Technology

Oracle Corporation (ORCL) price

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Last close: $131
Close-to-close change: +3.5%
Market cap: $394.7B (shares as of 2026-09-07)
P/E (trailing): 20.5 (EPS to 2026-08-31)
Annual revenue: $67.4B USD (FY ended 2026-05-31) 10-K
Annual revenue growth: +17.3% (FY ended 2026-05-31 vs FY ended 2025-05-31) 10-K
Annual net income: 17,087,000,000 USD (FY ended 2026-05-31, attributable to the company) 10-K
Annual operating margin: 30.6% (FY ended 2026-05-31)
Forward P/E: Unavailable: no dated forecast source

Gloria daily close for session Oct 27, 2026. Market cap and trailing P/E use this close with the SEC share total and trailing diluted earnings, each dated next to its figure. Annual revenue, revenue growth, net income and margin show their own fiscal period and link the 10-K. Current context may postdate this article.

Oracle Corporation and its peers

Company	Price	Market cap	P/E (trailing)	Forward P/E	Annual revenue (USD)	Annual revenue growth	Annual net income (USD)	Operating margin
Oracle Corporation ORCL · Price dated Oct 27, 2026 · tokenized ORCLx	$131	$394.7B	20.5	Unavailable	$67.4BFY ended 2026-05-31 · 10-K	+17.3%FY ended 2026-05-31 vs 2025-05-31 · 10-K	17,087,000,000FY ended 2026-05-31, attributable to the company · 10-K	30.6%FY ended 2026-05-31
Palantir Technologies Inc. PLTR · Price dated Oct 27, 2026 · tokenized PLTRx	$199	$477.5B	169.9	Unavailable	$4.5BFY ended 2025-12-31 · 10-K	+56.2%FY ended 2025-12-31 vs 2024-12-31 · 10-K	1,625,033,000FY ended 2025-12-31, attributable to the company · 10-K	31.6%FY ended 2025-12-31
CrowdStrike Holdings Inc. CRWD · Price dated Oct 27, 2026 · tokenized CRWDx	$268	$274.4B	Not meaningfulLoss, diluted EPS −0.45 to 2026-07-31 · SEC filing	Unavailable	$4.8BFY ended 2026-01-31 · 10-K	+21.7%FY ended 2026-01-31 vs 2025-01-31 · 10-K	−162,502,000FY ended 2026-01-31, attributable to the company · 10-K	−6.1%FY ended 2026-01-31
Shopify Inc. SHOP · Price dated Oct 27, 2026	$166	Unavailable	112.0	Unavailable	$11.6BFY ended 2025-12-31 · 10-K	+30.1%FY ended 2025-12-31 vs 2024-12-31 · 10-K	1,231,000,000FY ended 2025-12-31, attributable to the company · 10-K	12.7%FY ended 2025-12-31

Missing figures stay unavailable. Forward P/E requires a dated source. Annual revenue, revenue growth, net income and margin come from each company's own 10-K, in US dollars, and each row shows that fiscal year. Revenue growth compares the fiscal year with the prior year stated in the same 10-K. Net income is the full year amount attributable to the company, or available to common stockholders where the filing states only that, or consolidated net income. Each row names its basis. Trailing P/E reads "Not meaningful" when the dated trailing diluted EPS is a loss or zero. An operating margin appears only when the filing states both the operating income and the revenue for the same year.

Sources: SEC filings, Gloria daily closes and CoinGecko. Oldest record refresh: Oct 27, 2026, 10:37 PM EDT. Refresh is not a price or filing date. Each row shows its price date and its annual fiscal period. Peers use industry code and company size, or editorial selection. Market cap multiplies that row price by the company share total the latest SEC filing states for every share class together. Trailing P/E divides it by trailing diluted earnings from SEC filings. Rolled earnings per share are approximate because share counts can change between periods. Both appear only when the SEC data carries its date, so they are estimates at one price date, not synchronized filing valuations. Not investment advice.

While the AI boom has minted fortunes for chipmakers and cloud giants, the less glamorous side of the equation, keeping all those GPUs powered, is turning a Michigan utility into a surprisingly compelling growth story.

DTE Energy has locked in 2.4 GW of executed power agreements with hyperscale data center operators. That includes a 1.4 GW deal with Oracle and a 1 GW agreement with Google, two of the most aggressive builders in the AI infrastructure race. Analysts at 24/7 Wall St. have slapped a $148.32 price target on the stock, implying roughly 12-13% upside from recent trading levels around $130-132.

The pipeline keeps growing

The 2.4 GW already under contract is just the opening act. DTE’s management has identified a total pipeline of approximately 8.4 GW in hyperscale opportunities when earlier-stage projects are included. Of that pipeline, around 2 GW is currently in advanced discussions, with the company targeting a signed contract by the end of 2026.

CEO Joi Harris has put a number on what this growth means for shareholders. She projected that adding an incremental 3 GW of capacity could push DTE’s long-term earnings-per-share growth rate above 8% through 2030. The company’s baseline target sits in the 6-8% range.

For 2026, DTE is projecting EPS in the range of $7.59 to $7.73.

A $36.5 billion capital plan

DTE has laid out a $36.5 billion capital plan covering 2026 through 2030, with $30 billion of that earmarked specifically for electric operations.

The hyperscaler agreements could also delay DTE’s next electric rate case until 2028, depending on project timelines.

Why utilities are the AI trade nobody talks about

Oracle, Google, Microsoft, and Amazon are all racing to secure reliable power supplies measured in gigawatts, not megawatts. That competition has turned regulated utilities with available capacity and transmission access into something they’ve never been before: growth stocks.

The competitive landscape is worth watching. Other utilities like Dominion Energy, Duke Energy, and Entergy have also been courting hyperscaler deals, but DTE’s 2.4 GW in executed agreements puts it near the front of the pack among pure-play regulated utilities. The Oracle deal alone, at 1.4 GW, is one of the largest single utility-hyperscaler agreements publicly disclosed.

The key risk is execution. Building out gigawatts of new capacity requires permitting, construction, grid upgrades, and generation procurement, all of which can face delays. If hyperscaler timelines slip, so does DTE’s revenue ramp.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

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