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

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’...