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.
WEC Energy Group reported a net income of $1.3 billion, or $4.11 per share for 2021, reflecting an 8.4% increase from 2020. The company achieved consolidated revenues of $8.3 billion, up $1.1 billion year-over-year. For Q4 2021, net income was $224.2 million, down from $239 million in Q4 2020. WEC reaffirmed its earnings guidance for 2022 at $4.29 to $4.33 per share. Additionally, a quarterly dividend of 72.75 cents was declared, marking a 7.4% increase over last year. The company aims for coal usage to be immaterial by 2030 and fully exited by 2035.
WEC Energy Group Inc. (NYSE: WEC) will release its 2021 fourth-quarter and full-year earnings on Feb. 3, before the stock market opens. A conference call for investors and analysts is set for the same day at 1 p.m. Central time. Detailed financial information will be available on the company's website by 6:30 a.m. Central time on the same date. WEC, serving 4.6 million customers across several states, is a Fortune 500 company with significant assets totaling $39 billion.
WEC Energy Group (NYSE: WEC) is launching a pilot project in Michigan's Upper Peninsula to test hydrogen co-firing with natural gas as a fuel source for power generation. This initiative aims to support the company's aggressive environmental goals of achieving net-zero carbon emissions by 2050 and net-zero methane emissions by 2030. Partnering with the Electric Power Research Institute, the project will blend hydrogen with a 25/75 ratio of natural gas in modern reciprocating internal combustion engines. The project is significant for advancing clean energy technologies and decarbonizing the economy.
The Wisconsin Electric board of directors declared a quarterly cash dividend of 90 cents per share on the 3.60% Preferred Stock, payable on March 1, 2022, to stockholders of record on February 14, 2022. Additionally, a dividend of $1.50 per share on the Six Per Cent Preferred Stock will be paid on April 30, 2022, to stockholders of record on April 14, 2022. We Energies, a subsidiary of WEC Energy Group (NYSE: WEC), serves over 1.1 million electric and 490,000 gas customers in Wisconsin.
The board of directors of WEC Energy Group has declared a quarterly cash dividend of 72.75 cents per share, marking a 7.4 percent increase from the previous dividend of 67.75 cents. This adjustment raises the annual dividend rate to $2.91 per share, with payment scheduled for March 1, 2022, to stockholders recorded by February 14, 2022. This dividend marks the 318th consecutive quarter of payments and continues the trend of dividend increases for 19 years.
WEC Energy Group (NYSE: WEC) announced the commercial operation of its 190-megawatt Jayhawk Wind Farm in Kansas, which is generating renewable energy under a long-term contract with Meta. The investment for the project totals $302 million, with WEC owning 90% and the remaining 10% operated by Invenergy. This initiative aligns with WEC's ESG Progress Plan, aimed at enhancing sustainability and growth. The wind farm consists of 70 GE turbines and furthers WEC's commitment to a sustainable energy future.
WEC Energy Group (NYSE: WEC) announced a planned increase in its quarterly dividend to 72.75 cents per share, marking a 7.4% rise from the current dividend. This new rate is set for the first quarter of 2022, with the dividend payable on March 1, 2022, to stockholders of record on February 14, 2022. The company also provided earnings guidance for 2022, anticipating earnings in the range of $4.29 to $4.33 per share, representing a 7.5% growth from the previous year.
This holiday season, a collaboration between the Better Business Bureau and utility companies aims to raise awareness about increasing scam attempts targeting consumers. Steve Bernas, CEO of the BBB of Chicago, indicates a rise in imposters posing as utility workers. In 2020, Americans lost over $3.3 billion to fraud, with nearly $1.2 billion due to impersonation scams. The initiative coincides with Utility Scam Awareness Week (Nov. 14-20) to educate customers on protective measures, including verifying identification and never disclosing personal information to unsolicited contacts.
WEC Energy Group (NYSE: WEC) reported a net income of $290 million for Q3 2021, reflecting an increase from $266.8 million in Q3 2020. For the first nine months, net income reached $1.08 billion, up from $960.9 million in the previous year. Consolidated revenues totaled $6.1 billion, a rise of $805.8 million year-over-year. Retail electricity deliveries increased by 2.4% in Q3. The company raised its earnings guidance for 2021 to $4.05 - $4.07 per share, assuming normal weather conditions.
Integrys Holding, a subsidiary of WEC Energy Group (NYSE: WEC), announced results for its cash Tender Offer to purchase up to $150 million of its 6.00% Junior Subordinated Notes due 2073. The Maximum Acceptance Amount has been increased to $178,556,650, with $178,556,650 in Notes tendered by the Early Tender Time of October 26, 2021. Settlement for accepted Notes is expected on October 28, 2021. The tender offer will expire on November 9, 2021. The Total Consideration for the Notes is set at $27.50 per $25 principal amount.