WEC Energy Group, Inc. - WEC STOCK NEWS

WEC Energy Group reported a strong second quarter in 2021, with net income of $276 million (87 cents per share), up from $241.6 million (76 cents) in 2020. For the first half of 2021, net income rose to $786.1 million ($2.49 per share) from $694.1 million ($2.19). Revenues reached $4.4 billion, up $710.3 million year-over-year. Key drivers included a recovering economy and increased electricity deliveries, with small commercial consumption up 10.4% and large commercial up 14.8%. The company raised its earnings guidance for 2021 to $4.02 to $4.05 per share.

WEC Energy Group Inc. (NYSE: WEC) will release its second-quarter earnings on August 3, 2021, prior to the market opening. A conference call for analysts is scheduled at 1 p.m. Central time the same day. Financial details will be accessible on the company's website by 6:30 a.m. Central time on August 3.

WEC serves 4.6 million customers across the Midwest, with major utilities including We Energies and Wisconsin Public Service. The company, part of the S&P 500, has assets exceeding $37 billion and approximately 41,000 stockholders.

WEC Energy Group (NYSE: WEC) has agreed to acquire a 90% ownership interest in the Sapphire Sky Wind Energy Center located in McLean County, Illinois, for $412 million. The project, developed by Invenergy, will encompass 64 wind turbines with a total capacity of 250 megawatts, expected to begin commercial operations by the end of 2022. Renewable energy generated will be sold to a Fortune 100 high-tech company under a long-term agreement. This acquisition is part of WEC's strategy to expand its renewable energy portfolio, which includes investments in eight wind farms totaling over 1.5 gigawatts of capacity.

WEC Energy Group (NYSE: WEC) released its 2020 Corporate Responsibility Report, detailing progress on environmental, social, and governance (ESG) performance. The company aims for a 60% reduction in carbon emissions by 2025 and 80% by 2030, with a goal of net-zero emissions by 2050. In 2020, WEC invested nearly $2.2 billion to enhance reliability and was recognized for its sustainability efforts, including achieving record diversity spending of $303.4 million. The report highlights WEC's commitment to affordable, reliable energy and its adaptation to 2020 challenges.

The Wisconsin Electric board has declared a quarterly cash dividend of 90 cents per share on its Preferred Stock, 3.60% Series, payable on Sept. 1, 2021. Stockholders of record as of Aug. 13, 2021 will be eligible. Additionally, a quarterly cash dividend of $1.50 per share on the Six Per Cent Preferred Stock will be paid on Oct. 31, 2021, to stockholders of record on Oct. 14, 2021. We Energies, a subsidiary of WEC Energy Group (NYSE: WEC), serves over 1.1 million electric and 490,000 natural gas customers in Wisconsin.

WEC Energy Group (NYSE: WEC) has declared a quarterly cash dividend of 67.75 cents per share on its common stock, payable on Sept. 1, 2021, to stockholders of record as of Aug. 13, 2021. This dividend announcement marks the 316th consecutive quarter of dividend payments since 1942. The company serves approximately 4.6 million customers across Wisconsin, Illinois, Michigan, and Minnesota, and is recognized as a major player in the energy sector with a substantial asset base exceeding $37 billion.

We Energies has been recognized as the top energy company in the U.S. according to the 2021 Trusted Business Partner Brand Trust Index by Escalent. This recognition stems from We Energies' commitment to supporting local businesses and communities during the COVID-19 pandemic. The company offered flexible payment options and enhanced digital services while also contributing to community relief efforts. The survey involved over 15,000 utility customers and measured factors such as customer focus, communication, and environmental dedication.

Peoples Gas has been recognized as a 2021 Most Trusted Utility Brand for the third consecutive year by Escalent, achieving the second-highest Brand Trust Index score among Midwest natural gas utilities. The recognition stems from the company's commitment to customer service during the COVID-19 pandemic, including flexible payment options and enhanced digital services. Additionally, Peoples Gas was acknowledged as an Environmental Champion in April 2021 for its dedication to environmental practices. The study surveyed over 75,000 utility customers, highlighting the importance of customer focus and community support.

Wisconsin Public Service (WPS) has been recognized as a 2021 Most Trusted Utility Brand, marking its second consecutive year of this honor. This recognition comes from a survey by Escalent, where WPS scored among the top in customer service, community support, and communication, particularly during the COVID-19 pandemic. The company has focused on providing affordable, reliable energy and flexible payment arrangements while supporting local communities. WPS serves approximately 450,000 electric and 336,000 natural gas customers in Wisconsin.