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.
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.
The Illinois Commerce Commission has approved a collaboration between Peoples Gas and North Shore Gas to transmit natural gas meter data through ComEd's smart grid. This innovation will enhance efficiency, save gas customers approximately
WEC Energy Group will announce its 2022 third-quarter earnings before the market opens on November 1. Following the release, a conference call for investors is set for 1 p.m. Central time on the same day. Detailed financials will be accessible on the company's website by 6:30 a.m. Central time. WEC Energy serves approximately 4.6 million customers across multiple states and is a component of the S&P 500, boasting over $40 billion in assets.
WEC Energy Group announced the appointment of Ave M. Bie to its board of directors, effective January 1, 2023. Bie, a seasoned attorney with over 25 years of experience in the utility sector, is currently a partner at Milwaukee-based Quarles & Brady. She has held significant positions, including vice chair of the New York Independent System Operator and chair of the Wisconsin Public Service Commission. Her addition is expected to enhance the board's expertise, particularly in regulatory and legal matters relevant to WEC's operations.
The board of Wisconsin Electric has declared a quarterly cash dividend of 90 cents per share on the 3.60% Series Preferred Stock, payable on December 1, 2022, to shareholders of record on November 14, 2022.
Additionally, a quarterly cash dividend of $1.50 per share on the Six Per Cent Preferred Stock will be paid on January 31, 2023, for shareholders of record on January 13, 2023.
WEC Energy Group declared a quarterly cash dividend of 72.75 cents per share on October 20, 2022, payable on December 1, 2022. This will be the 321st consecutive quarter the company has paid dividends, demonstrating its long-standing commitment to returning value to shareholders. WEC serves approximately 4.6 million customers across several states and operates various utilities and renewable generation facilities, holding over $40 billion in assets.
WEC Energy Group (NYSE: WEC) released its 2021 Corporate Responsibility and Climate Reports, showcasing progress in environmental, social, and governance (ESG) initiatives. The reports outline the company's targets of a 60% reduction in carbon emissions by 2025 and 80% reduction by 2030, along with a carbon-neutral electric generation fleet by 2050. With a $17.7 billion ESG Progress Plan, WEC is investing significantly in renewable energy and infrastructure. The company also emphasizes diversity and inclusion, achieving notable advancements in leadership demographics.
WEC Energy Group (NYSE: WEC) reported a net income of $287.5 million, or 91 cents per share for Q2 2022, up from $276.0 million, or 87 cents per share in Q2 2021. Year-to-date, net income reached $853.4 million, or $2.70 per share, compared to $786.1 million, or $2.49 per share last year. Consolidated revenues for the first half of 2022 totaled $5.0 billion, an increase of $668.4 million year-over-year. In response to strong performance, the company raised its 2022 earnings guidance to between $4.36 and $4.40 per share.
Badger Meter, Inc. (NYSE:BMI) has appointed Xia Liu, the Chief Financial Officer of WEC Energy Group (NYSE:WEC), to its Board of Directors, increasing the board size to ten members. Liu has been with WEC since June 2020 and boasts extensive experience in financial and risk management, having previously held leadership roles at CenterPoint Energy and Southern Company. CEO Kenneth C. Bockhorst expressed enthusiasm for Liu's appointment, highlighting her financial expertise and utility knowledge as valuable assets for the board.
WEC Energy Group Inc. (NYSE: WEC) is set to release its second-quarter earnings report on August 2, 2022, before the market opens. A conference call for investors and analysts will follow at 1 p.m. Central time on the same day, with financial details available on their website at 6:30 a.m. Central time. WEC Energy Group serves over 4.6 million customers across several states, boasting significant assets of more than $39 billion and is a component of the S&P 500.
The Wisconsin Electric board has declared two quarterly cash dividends: 90 cents per share on the 3.60% Series Preferred Stock, payable on Sept. 1, 2022, to stockholders of record on Aug. 12, 2022; and $1.50 per share on the Six Per Cent Preferred Stock, payable on Oct. 31, 2022, to stockholders of record on Oct. 14, 2022. Wisconsin Electric, a subsidiary of WEC Energy Group, serves over 1.1 million electric and 490,000 natural gas customers in Wisconsin.
FAQ
What is the current stock price of WEC Energy Group (WEC)?
What is the market cap of WEC Energy Group (WEC)?
What services does WEC Energy Group, Inc. provide?
What are the main subsidiaries of WEC Energy Group?
What is the asset mix of WEC Energy Group?
What recent projects has WEC Energy Group invested in?
What were WEC Energy Group's financial results for 2023?
How does WEC Energy Group support renewable energy?
What is WEC Energy Group's approach to dividends?
What are the details of the recent tender offer by WEC Energy Group?
How many customers does WEC Energy Group serve?
What is the company's recent financial performance in the first quarter of 2024?
