DTE Energy Plans to Spin Off Its Natural-Gas Pipeline Unit (2)

DTE Energy, a power company operating in the Midwestern U.S., plans to spin off its pipeline and storage business and become a pure natural gas and electric utility.

DTE is the latest power supplier to retreat from energy pipelines after growing aggressively in the sector. Investor and political push back against fossil fuels is making it difficult to build new pipelines for expansion. Dominion Energy Inc. agreed to sell almost all of its gas pipeline and storage assets in July to Berkshire Hathaway Inc.

Activist investor Elliott Management Corp., which on Tuesday disclosed that it held a “significant interest” ...