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.
Wisconsin Electric announced a quarterly cash dividend of 90 cents per share on its Preferred Stock, 3.60% Series, payable on Dec. 1, 2020. Shareholders on record as of Nov. 13, 2020 will qualify. Additionally, a $1.50 per share dividend on the Six Per Cent Preferred Stock will be paid on Jan. 31, 2021, to those on record by Jan. 14, 2021. This reflects the company's commitment to returning value to its shareholders amidst serving over 1.1 million electric and 490,000 gas customers in Wisconsin.
WEC Energy Group (NYSE: WEC) declared a quarterly cash dividend of 63.25 cents per share, marking its 313th consecutive quarter of dividend payments since 1942. The dividend is payable on Dec. 1, 2020, to shareholders of record on Nov. 13, 2020. Serving 4.5 million customers across Wisconsin, Illinois, Michigan, and Minnesota, WEC operates under various utilities, including We Energies and Wisconsin Public Service. The company is a component of the S&P 500, with $35 billion in assets and approximately 45,000 stockholders.
Peoples Gas announced that the Illinois Commerce Commission (ICC) has approved an independent study confirming the urgent need for its System Modernization Program (SMP) to replace aging natural gas pipes. The study revealed over 80% of the pipes have less than 15 years of life remaining, with the replacement program expected to enhance safety and reliability while reducing methane emissions. The project, initiated in 2011, involves replacing 2,000 miles of aging infrastructure. The SMP is 30% complete and aims for full completion by 2040.
WEC Energy Group (NYSE: WEC) reported a net income of $241.6 million, or 76 cents per share, for Q2 2020, showing growth from $235.7 million, or 74 cents per share, year-over-year. For the first half of 2020, net income reached $694.1 million, or $2.19 per share, up from $655.8 million, or $2.07 per share, in 2019. Consolidated revenues totaled $3.7 billion, a decline of $310.3 million year-over-year. Despite challenges posed by COVID-19, the company reaffirmed its earnings guidance for 2020, aiming for $3.71 to $3.75 per share.
WEC Energy Group (NYSE: WEC) announced ambitious environmental goals, aiming for net carbon neutrality in its electric generation fleet by 2050 and a 70% reduction in carbon dioxide emissions by 2030. These targets were highlighted in its latest Corporate Responsibility Report. The company has made significant strides in renewable energy, committing to three large-scale solar parks providing 300 megawatts. In 2019, WEC spent a record $282.6 million with diverse suppliers and helped customers save over 433 gigawatt-hours via efficiency programs.
WEC Energy Group Inc. (NYSE: WEC) will release its 2020 second-quarter earnings before the market opens on August 4. A conference call for analysts is scheduled for the same day at 1 p.m. Central time, which will be accessible via webcast at the company’s website. Detailed financial data will be available online by 6:30 a.m. Central time on August 4. Stakeholders can also listen to the call by dialing in, and a replay will be available on the website and by phone until August 18. The company serves 4.5 million customers across multiple states.
The Wisconsin Electric board has declared a quarterly cash dividend of 90 cents per share on its 3.60% Series Preferred Stock, payable on Sept. 1, 2020, for stockholders of record by Aug. 14, 2020. Additionally, a $1.50 per share dividend on the Six Per Cent Preferred Stock will be paid on Oct. 31, 2020, to stockholders of record by Oct. 14, 2020. Wisconsin Electric, operating as We Energies, is a subsidiary of WEC Energy Group, serving over 1.1 million electric and 490,000 natural gas customers in Wisconsin.
WEC Energy Group (NYSE: WEC) has announced a quarterly cash dividend of 63.25 cents per share, payable on Sept. 1, 2020, to stockholders of record on Aug. 14, 2020. This marks the 312th consecutive quarter of dividend payments since 1942, showcasing the company's consistent commitment to returning value to its shareholders. WEC serves approximately 4.5 million customers across Wisconsin, Illinois, Michigan, and Minnesota, and holds around $35 billion in assets.
WEC Energy Group announced a $100,000 donation through the We Energies Foundation to support local businesses affected by recent protests in Milwaukee. This grant will aid the Metropolitan Milwaukee Association of Commerce's Rebuild and Revitalize fund, which has raised over $700,000 to assist business owners with repairs and inventory replacement. Leaders emphasize the importance of strengthening diverse businesses to enhance community prosperity and address racial disparities.
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