WEC Energy Group, Inc. - WEC STOCK NEWS

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.

WEC Energy Group's virtual annual meeting highlighted its commitment to affordable, reliable, and clean energy, showcasing significant achievements from 2020. Key accomplishments include $2.2 billion investment in core business, launching Wisconsin's first large-scale solar energy center, and a new $16.1 billion capital investment plan for sustainability. The company aims for net carbon neutrality by 2050 and reported a 7.1% increase in dividends to $2.71 per share, marking 18 consecutive years of higher dividends. WEC also achieved record stock prices and strengthened its diversity spending.

WEC Energy Group (NYSE: WEC) announced ambitious new emissions reduction targets, committing to a 60% reduction in carbon emissions by 2025 and 80% by 2030 from its electric generation fleet. The company aims to achieve net-zero methane emissions from its natural gas distribution by 2030. As part of its $4 billion investment plan for clean energy projects (2021-2025), WEC is transforming its power generation fleet, reducing reliance on coal to below 10% by 2025. These goals support international climate commitments, including the Paris Agreement.

WEC Energy Group reported a net income of $510.1 million for Q1 2021, up from $452.5 million in Q1 2020, translating to $1.61 per share. Revenues rose to $2.7 billion, an increase of $582.8 million. The growth resulted from colder weather and economic recovery, with natural gas deliveries increasing by 3.2%. The company expects to meet its earnings guidance of $3.99 to $4.03 per share for the year. WEC serves about 4.6 million customers across four states and maintains strong operational performance amidst challenging weather conditions.

We Energies and Wisconsin Public Service plan to acquire the Koshkonong Solar Energy Center, a 465-MW solar and battery storage project in Wisconsin, representing a $649 million investment. If approved, it will be Wisconsin's largest renewable energy initiative, featuring 300 MW of solar generation and 165 MW of storage. This is part of WEC Energy Group's strategy to invest nearly $2 billion in renewable projects by 2025. The project aims to enhance energy reliability for customers, with construction expected to start in late 2022 and operations by 2024.

WEC Energy Group Inc. (NYSE: WEC) will release its first-quarter earnings on May 3, 2021, before the market opens. A conference call for analysts is set for the same day at 1 p.m. Central time. Financial results will be accessible on the company’s website by 6:30 a.m. Central time on that date. WEC serves approximately 4.6 million customers across Wisconsin, Illinois, Michigan, and Minnesota and operates several utilities and renewable energy facilities, managing over $37 billion in assets.

On April 15, 2021, Wisconsin Electric's board declared a quarterly cash dividend of 90 cents per share on its 3.60% Series Preferred Stock, payable on June 1, 2021, to shareholders of record on May 14, 2021. Additionally, a quarterly cash dividend of $1.50 per share was announced for the Six Per Cent Preferred Stock, payable on July 31, 2021, with record date on July 14, 2021. Wisconsin Electric serves over 1.1 million electric and 490,000 natural gas customers in Wisconsin.