Welcome to our dedicated page for WEC Energy news (Ticker: WEC), a resource for investors and traders seeking the latest updates and insights on WEC Energy stock.
News and regulatory disclosures describe WEC Energy Group, Inc. (NYSE: WEC) as a Milwaukee-based Fortune 500 energy company serving approximately 4.7 million electric and natural gas customers in Wisconsin, Illinois, Michigan and Minnesota. The company’s news flow reflects its role as a major utility holding company with a focus on reliability, financial performance, capital investment and a transition toward cleaner energy resources.
On this page, readers can follow company announcements about quarterly and annual financial results, dividend declarations and guidance updates. WEC Energy Group regularly issues earnings releases that discuss net income, earnings per share, revenues and electricity deliveries across customer classes, along with commentary from management on operating conditions, capital plans and demand trends in its service territories.
Investors and analysts tracking WEC news will also see updates on the company’s dividend history and policies, including information about quarterly cash dividends on common stock and preferred stock at subsidiary Wisconsin Electric Power Co., doing business as We Energies. The company highlights a long record of consecutive dividend payments and provides context on payout targets relative to earnings.
In addition to financial and dividend news, WEC Energy Group publishes items related to its Corporate Responsibility Report, climate strategy and capital plan. These releases cover topics such as its goal for net carbon neutral electric generation by 2050, plans to eliminate coal as an energy source by the end of 2032, investments in modern natural gas generation and renewable energy, and research into technologies like natural gas heat pumps, renewable natural gas, hydrogen and long-duration battery storage.
Announcements about upcoming earnings calls, investor presentations and other events are also part of the WEC news stream, providing schedules, access details and references to supporting financial materials. Together, these updates give a detailed picture of how WEC Energy Group manages its utility operations, energy infrastructure investments and long-term strategy in the Upper Midwest and beyond.
We Energies announced the extension of the operating lives of its Oak Creek site's four older coal-fueled units. Retirement of Units 5 and 6 is postponed until May 2024, while Units 7 and 8 will remain operational until late 2025. This decision is due to tight energy supply in the Midwest and delays in renewable energy projects. The company aims for a 60% reduction in CO2 emissions by 2025 and 80% by 2030, compared to 2005 levels. We Energies serves over 1.1 million customers in Wisconsin.
Peoples Gas announced it will clear all past-due balances for qualifying low-income customers, preventing disconnection due to unpaid heating bills. This initiative follows a substantial increase in federal and state funding, totaling $46 million in assistance over the past year. The balances will be settled by the end of June. CEO Charles Matthews emphasized the company's commitment to supporting customers amid rising natural gas prices. In addition to financial aid, Peoples Gas offers flexible payment plans and energy efficiency programs.
WEC Energy Group (NYSE: WEC) held its annual stockholders meeting, where executives highlighted the company's commitment to environmental goals and financial discipline, resulting in record net income and earnings per share. Key achievements include a significant five-year capital plan for renewable energy, a 60% reduction in CO2 emissions by 2025, and an 80% reduction by 2030. The company also returned $855 million to shareholders via dividends and increased its dividend by 7.4%, marking the 19th consecutive year of increases.
WEC Energy Group (NYSE: WEC) reported a net income of $565.9 million, or $1.79 per share, for Q1 2022, an increase from $510.1 million, or $1.61 per share, in Q1 2021. Consolidated revenues rose to $2.9 billion, up $216.7 million year-over-year. Key drivers included a colder winter and strong economic performance, with natural gas deliveries up 9.3% and electricity retail deliveries up 2.2%. The company has raised its 2022 earnings guidance to a range of $4.34 to $4.38 per share. A conference call is scheduled for May 2, 2022.
We Energies has filed proposals with the Public Service Commission of Wisconsin for rate reviews to set 2023 customer rates for electricity, natural gas, and steam. These proposals aim to support the company's significant clean energy transition and include plans for substantial investments in storm hardening and grid resilience, notably burying 800 miles of power lines over the next decade. If approved, residential electric bills will increase by approximately $5 to $6 monthly, reflecting a 5-6% rise while remaining competitively priced compared to national averages.
Wisconsin Public Service (WPS) announced its proposal for customer rate increases for electricity and natural gas effective in 2023. This comes amid a major clean energy transition, aiming to reduce carbon emissions significantly. The plan includes a monthly electric bill increase of approximately $5 to $6 (5 to 6%), while remaining below regional averages. Key investments focus on renewable energy sources and grid resiliency. The Public Service Commission of Wisconsin will review the proposal, with a decision expected later this year, and new rates anticipated to take effect in January 2023.
WEC Energy Group Inc. (NYSE: WEC) will release its 2022 Q1 earnings on May 2, 2022, before the market opens. A conference call for investors and analysts is scheduled for the same day at 1 p.m. Central time. Detailed financial data will be accessible on their website by 6:30 a.m. Central time on the same date. WEC Energy serves approximately 4.6 million customers across several states, with significant assets totaling $39 billion.
The Wisconsin Electric board of directors has declared a quarterly cash dividend of 90 cents per share on its 3.60% Series Preferred Stock, payable on June 1, 2022, to stockholders of record on May 13, 2022. Additionally, a cash dividend of $1.50 per share on the Six Per Cent Preferred Stock is set for payment on July 31, 2022, to stockholders of record on July 14, 2022. This reflects Wisconsin Electric's ongoing commitment to rewarding its shareholders.
The board of directors of WEC Energy Group (NYSE: WEC) has declared a quarterly cash dividend of 72.75 cents per share. This dividend is payable on June 1, 2022, to stockholders of record as of May 13, 2022. This marks the 319th consecutive quarter of dividend payments since 1942. WEC Energy Group serves approximately 4.6 million customers across Wisconsin, Illinois, Michigan, and Minnesota, with total assets amounting to $39 billion.
Urbint has announced its partnership with Wisconsin Public Service (WPS), a subsidiary of WEC Energy Group, to implement AI technology for damage prevention in natural gas infrastructure. This initiative aims to reduce the risk of third-party excavations damaging underground gas lines, which accounts for 12% of methane emissions in the sector. By utilizing Urbint Lens, WPS can prioritize high-risk excavation sites, enhancing public safety and reliability while preventing methane leaks and safety incidents.