DTE Energy management check
DTE · Utilities · Multi-Utilities · CEO Mr. Norcia
Filings as of
1 good · 3 to watch · 0 flagged, across the seven questions below. Too few of them could be scored to rank this company.
- n/a
Have owners done well?
Not enough dataNo shareholder-return figures in the latest proxy.
- Watch
Does pay follow performance?
Pay only loosely tracked returnsOver 4 years, the CEO's pay actually paid (equity valued at the share price) had a correlation of -0.27 with shareholder return. 1 means pay moved in step; below 0, the opposite way.
- n/a
What does the CEO cost owners?
Not enough dataNo pay or net income figure for the latest year.
- n/a
Do they own the stock?
No recent CEO filingLight activity: no buys, $822k sold in six months.
- Watch
Are owners being diluted?
Share count growingDiluted shares changed +0.2% a year over the last three fiscal years.
- Watch
Is leadership stable?
11 leadership filings in 3 yearsCEO in the pay table: Mr. Norcia. 11 filings under 8-K item 5.02 (officers or directors leaving or joining, or new pay arrangements) in the last 3 years.
- Good
Are the books clean?
No red flags on fileNo restatements, auditor changes or late filings since 2021.
Against the S&P 500
Each check's score (0–100) and how it compares: the share of ranked S&P 500 companies it matches or beats, and the median in Utilities.
| Check | Score | At or above | Sector median |
|---|---|---|---|
| Owner returns | — | — | 53 |
| Pay for performance | 36 | 81 | |
| CEO cost | — | — | 50 |
| Skin in the game | — | — | 45 |
| Dilution | 47 | 37 | |
| Stable leadership | 70 | 80 | |
| Clean books | 100 | 100 |
Closest peers
Others in Multi-Utilities, by management score.
- 146NEENextEra Energy72
- 210CMSCMS Energy68
- 226AEEAmeren66
- 227SRESempra66
- 242NINiSource65
- 244CNPCenterPoint Energy65
- 245XELXcel Energy64
- 330DDominion Energy59
- 337PNWPinnacle West Capital59
- 361EDConsolidated Edison57
Pay versus performance
From the proxy statement filed March 12, 2026. "Actually paid" values stock awards at the share price, so it rises and falls with the stock.
| Fiscal year | CEO | CEO pay | Actually paid | Other executives (avg) | $100 became | Peers | Net income |
|---|---|---|---|---|---|---|---|
| 2025 | Mr. Norcia | $14.2m | $12.8m | — | — | — | — |
| 2024 | — | $12.6m | $13.1m | $3.7m | $133 | $131 | $1.4bn |
| 2023 | — | $10.3m | $12.7m | $2.9m | $118 | $108 | $1.4bn |
| 2022 | — | $10.5m | $13.1m | $2.8m | $121 | $115 | $1.1bn |
| 2021 | — | $11.1m | $18.2m | $3.5m | $119 | $114 | $907.0m |
The board says pay is tied most to Adjusted Operating Earnings Per Share. Its other key measures: Relative Total Shareholder Return vs Peer Group (percentile), Cash from Operations.
Insiders and the CEO's stake
Light activity: no buys, $822k sold in six months.
- SoldTrevor F LauerVice Chairman & Group Pres.$679kSep 1, 2026
- SoldLisa A. MuschongVP, Corp Sec & Chief of Staff$144kMay 14, 2026
Leadership and governance on file
- Sep 4, 2026Leadership change8-K 5.02
- Feb 9, 2026Leadership change8-K 5.02
- Dec 8, 2025Leadership change8-K 5.02
- Sep 16, 2025Leadership change8-K 5.02
- Jun 23, 2025Leadership change8-K 5.02
- May 14, 2025Leadership change8-K 5.02
- Feb 14, 2025Leadership change8-K 5.02
- Feb 7, 2025Leadership change8-K 5.02
- Feb 5, 2024Leadership change8-K/A 5.02
- Feb 5, 2024Leadership change8-K 5.02
- Oct 27, 2023Leadership change8-K 5.02
- Jun 28, 2023Leadership change8-K 5.02
Latest shareholder vote results: May 12, 2026, including the say-on-pay vote.
Where the money went
Over 2021–2025: $4.0bn returned to owners in buybacks and dividends, 64% of net income, and $0 of pay in stock.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | — | — | — | — | — |
| Net income | $907.0m | $1.1bn | $1.4bn | $1.4bn | $1.5bn |
| Stock-based pay | — | — | — | — | — |
| Buybacks | $66.0m | $55.0m | $0 | $0 | — |
| Dividends | $791.0m | $685.0m | $752.0m | $810.0m | $871.0m |
| Diluted shares | 194m | 196m | 206m | 207m | 207m |
Educational only, not investment advice. Figures are as filed with the SEC: pay from the proxy's pay-versus-performance table, capital allocation from 10-K XBRL data, insider trades from Form 4s over the last six months, events from the last 5 years of filings. The peer group is the one the company chose. See the method.