April 25 (Reuters) - Electric and gas utility DTE Energy ( DTE )

missed Wall Street estimates for the first-quarter

profit on Thursday, hurt by weakness in its natural gas unit.

Reported income of the DTE Gas arm, the second largest

segment by net income, declined 9.9% to $154 million for the

quarter. The company owns and operates 278 storage wells,

representing about 34% of the underground working capacity in

Michigan.

Its non-utility units' performance also fell sharply from

last year. The energy trading division reported income plummeted

nearly 100% to $1 million from $138 million a year ago.

DTE Energy Trading unit is an active physical and financial

gas, power and environmental marketing company. Fluctuations in

commodity prices impact energy companies' trading units.

The Detroit, Michigan-based company reported operating

earnings, which excludes certain items, of $1.67 per share for

the quarter ended March 31, missing the average analysts'

estimate of $1.71 per share, according to LSEG data.

However, it reaffirmed its full-year operating profit

outlook of between $6.54 and $6.83 per share.

The company invested over $1 billion during the quarter to

upgrade its electric and gas grids, with plans for $4 billion

investment this year.

"We are off to a strong start in 2024 as we continue to make

investments to modernize our electric system so it is more

resilient to increasingly extreme weather and more reliable for

our customers," CEO Jerry Norcia said.