Welcome to our dedicated page for WEC Energy Group news (Ticker: $WEC), a resource for investors and traders seeking the latest updates and insights on WEC Energy Group stock.
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WEC Energy Group had a remarkable year with significant achievements in renewable energy, financial performance, and customer satisfaction. The company invested heavily in new renewable capacity, completed major solar projects, and introduced renewable natural gas. Additionally, WEC Energy Group returned record dividends to stockholders and increased the dividend level by 7%. The company was also recognized for its inclusion in the High Yield Dividend Aristocrats Index. Stockholders approved key decisions and elected directors for the upcoming term.
WEC Energy Group reported strong first-quarter results with net income of $622.3 million, or $1.97 per share, up from last year. Consolidated revenues totaled $2.7 billion, down slightly from the previous year. The company focused on financial discipline, operating efficiency, and customer satisfaction amidst a warm winter in Wisconsin. Natural gas and electricity deliveries showed variations, with the company reaffirming its 2024 earnings guidance of $4.80 to $4.90 per share.
WEC Energy Group has announced the acquisition of a 90% ownership interest in the Delilah I Solar Energy Center, a 300-megawatt project near Dallas, Texas, developed by Invenergy. The project will generate renewable energy for a global automaker under a long-term power purchase agreement. WEC's investment is expected to total $459 million. This acquisition is part of WEC's commitment to investing in clean energy solutions and marks the company's continued expansion in the renewable energy sector.