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WEC Energy Group, Inc. (NYSE: WEC) stands as one of the nation’s premier electric and natural gas delivery companies, offering its vital services to nearly 4.7 million customers across Wisconsin, Illinois, Michigan, and Minnesota. Headquartered in Milwaukee, WEC Energy Group operates through its regulated utility subsidiaries, including We Energies, Wisconsin Public Service, Peoples Gas, North Shore Gas, Michigan Gas Utilities, Minnesota Energy Resources, and Upper Michigan Energy Resources.
The company boasts a robust infrastructure, managing 70,000 miles of electric distribution lines, 44,000 miles of natural gas distribution and transmission lines, and 8,800 megawatts of reliable power plant capacity. WEC Energy Group's asset mix includes 48% electric generation and distribution, 36% gas distribution, 10% electric transmission, and 6% unregulated renewable energy. Notably, the company holds a 60% stake in American Transmission Co.
WEC Energy Group is committed to delivering world-class reliability and exceptional customer care. It has a strong emphasis on reliability, customer satisfaction, and shareholder value. The company's financial condition remains solid with significant growth opportunities, as evidenced by its recent investments in renewable energy projects, including a 90% ownership interest in the Delilah I Solar Energy Center in Texas, and ongoing involvement in the Samson & Delilah solar portfolio.
For the fiscal year 2023, WEC Energy Group reported a net income of $1.3 billion or $4.22 per share under GAAP, with adjusted earnings rising to $4.63 per share, marking a 4% increase over the previous year. The company's financial stability is further underscored by its $43 billion in assets and its consistent dividend growth, highlighted by a recent 7% increase in its quarterly cash dividend.
WEC Energy Group remains focused on its strategic objectives and operates under a framework that aims to incorporate sustainability and efficiency. The company's infrastructure segment has invested in 11 solar and wind projects totaling more than 2 gigawatts of capacity, securing long-term off-take agreements and contributing to the clean energy transition.
Latest News: WEC Energy Group has recently announced the commencement of an offer to purchase up to $300,000,000 aggregate principal amount of its 2007 Series A Junior Subordinated Notes. Additionally, WEC Energy Group reported net income of $622.3 million for the first quarter of 2024 and disclosed plans for a private offering of $1.5 billion in convertible senior notes due 2027 and 2029.
WEC Energy Group continues to leverage its scale and operational expertise to meet future energy needs while maintaining a strong focus on delivering value to its customers and shareholders.
WEC Energy Group (NYSE: WEC) will release its 2024 third-quarter earnings before market open on Thursday, October 31, followed by a conference call at 1 p.m. Central time. The company serves 4.7 million customers across Wisconsin, Illinois, Michigan and Minnesota through its principal utilities including We Energies and Wisconsin Public Service. WEC Energy Group operates as a Fortune 500 company with 7,000 employees, 34,000 stockholders, and assets exceeding $45 billion. Their subsidiary WEC Infrastructure manages renewable generation facilities from South Dakota to Texas.
WEC Energy Group (NYSE: WEC) has announced the appointment of Warner Baxter and John Lange to its board of directors, effective January 1, 2025. Baxter, the retired executive chairman and CEO of Ameren Corp., brings over 28 years of experience in the energy sector. Lange, formerly the global head of Energy and Industrials Groups at Barclays PLC, has more than 28 years of investment banking experience.
Baxter's extensive career at Ameren Corp. included roles as chairman, president, CEO, and CFO. He serves on several boards and has held leadership positions in industry organizations. Lange has worked on numerous strategic advisory, M&A, and financing assignments across utility, natural resources, and industrial sectors. Both appointees bring significant expertise to WEC Energy Group's board, enhancing its depth and effectiveness in the energy industry.
Wisconsin Electric, a subsidiary of WEC Energy Group (NYSE: WEC), has declared quarterly cash dividends for its preferred stockholders. The board announced:
1. A dividend of 90 cents per share on the company's Preferred Stock, 3.60% Series, payable on Dec. 1, 2024, to stockholders of record on Nov. 14, 2024.
2. A dividend of $1.50 per share on the company's Six Per Cent Preferred Stock, payable on Jan. 31, 2025, to stockholders of record on Jan. 14, 2025.
Wisconsin Electric Power Co., operating as We Energies, serves over 1.1 million electric customers and 490,000 natural gas customers in Wisconsin.
WEC Energy Group (NYSE: WEC) has declared a quarterly cash dividend of 83.50 cents per share on its common stock. The dividend is payable on Dec. 1, 2024, to stockholders of record on Nov. 14, 2024. This marks the 329th consecutive quarter that the company has paid a dividend to its stockholders, dating back to 1942.
WEC Energy Group is a major energy company serving 4.7 million customers across Wisconsin, Illinois, Michigan, and Minnesota. The company operates several utilities and has a subsidiary focused on renewable energy generation. WEC Energy Group is a Fortune 500 company and a component of the S&P 500, with approximately 34,000 stockholders of record, 7,000 employees, and over $45 billion in assets.
Wisconsin Public Service (WPS) has been recognized by J.D. Power as the best electric utility in the Midwest for customer satisfaction and trust in the 2024 U.S. Electric Utility Brand Appeal Index Study. WPS scored nearly 30 points higher than the average Midwest electric utility. The company's focus on world-class customer service includes:
- Adding renewable energy facilities
- Upgrading equipment
- Strengthening distribution networks
- Providing real-time outage alerts
- Sharing energy efficiency tips
- Offering convenient billing options
WPS also actively supports community initiatives through its Foundation. This marks the third time in four years that WPS has been honored by J.D. Power for its customer service excellence.
WEC Energy Group (NYSE: WEC) has released its 2023 Corporate Responsibility Report, highlighting progress in environmental, social, and governance (ESG) performance. Key achievements include:
- 54% reduction in carbon emissions from generation below 2005 levels by end of 2023
- Targeting 60% reduction by 2025 and 80% reduction by 2030
- Plan to eliminate coal as an energy source by 2032
- Aim for carbon-neutral electric generation by 2050
- Goal to achieve net-zero methane emissions in natural gas distribution by 2030
The company's $23.7 billion capital plan includes $7 billion for renewable energy capacity, aiming to quadruple carbon-free generation. WEC Energy Group received awards for its hydrogen pilot project and veteran support, spent $333 million with diverse suppliers, and provided $20.7 million in charitable contributions in 2023.
WEC Energy Group (NYSE: WEC) reported net income of $211.3 million, or $0.67 per share, for Q2 2024, down from $289.7 million, or $0.92 per share, in Q2 2023. For H1 2024, net income was $833.6 million, or $2.64 per share, up from $797.2 million, or $2.52 per share, in H1 2023. Consolidated revenues totaled $4.5 billion, down $265.9 million from H1 2023. Retail electricity deliveries increased by 0.5% in Q2 2024, with residential use up 1.4%. The company reaffirmed its 2024 earnings guidance of $4.80 to $4.90 per share, assuming normal weather for the rest of the year.
WEC Energy Group (NYSE: WEC) will release its 2024 second-quarter earnings report on July 31, 2024, before the stock market opens. The company has scheduled a conference call for investors and security analysts at 1 p.m. Central time on the same day. Detailed financial information will be available on the WEC Energy Group website by 6:30 a.m. Central time.
WEC Energy Group is a Fortune 500 company and a component of the S&P 500, serving 4.7 million customers across Wisconsin, Illinois, Michigan, and Minnesota. The company operates several principal utilities and has a growing fleet of renewable generation facilities. With approximately 35,000 stockholders of record, 7,000 employees, and over $44 billion in assets, WEC Energy Group is positioned as one of the nation's premier energy companies.
Wisconsin Electric, a subsidiary of WEC Energy Group (NYSE: WEC), has declared quarterly cash dividends for its preferred stockholders. The board announced a 90 cents per share dividend on the 3.60% Series Preferred Stock, payable on Sept. 1, 2024, to stockholders of record as of Aug. 14, 2024. Additionally, a $1.50 per share dividend was declared on the Six Per Cent Preferred Stock, payable on Oct. 31, 2024, to stockholders of record as of Oct. 11, 2024.
Wisconsin Electric Power Co., operating as We Energies, serves over 1.1 million electric customers and 490,000 natural gas customers in Wisconsin. This dividend declaration demonstrates the company's commitment to providing returns to its preferred shareholders.
WEC Energy Group (NYSE: WEC) has declared a quarterly cash dividend of 83.50 cents per share on its common stock. The dividend is payable on Sept. 1, 2024, to stockholders of record on Aug. 14, 2024. This marks the 328th consecutive quarter of dividend payments, dating back to 1942. WEC Energy Group is a major energy company serving 4.7 million customers across Wisconsin, Illinois, Michigan, and Minnesota. The company operates several utilities and has a growing fleet of renewable generation facilities. With 7,000 employees and over $44 billion in assets, WEC Energy Group is a Fortune 500 company and a component of the S&P 500.
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