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.
WEC Energy Group (NYSE: WEC) is a leading provider of regulated electric and natural gas services across the Midwest, serving millions of residential and commercial customers through its extensive infrastructure network. This page aggregates official company announcements, financial disclosures, and operational updates to serve as a comprehensive resource for stakeholders.
Key Features: Track press releases on rate approvals, infrastructure investments, and sustainability initiatives alongside quarterly earnings reports and regulatory filings. Content is curated to highlight material developments affecting WEC's operations as a low-risk, regulated utility with a growing renewable energy portfolio.
Investor Relevance: Stay informed on capital expenditure plans, dividend declarations, and strategic acquisitions within WEC's service territories. Updates reflect the company's focus on grid modernization, emission reduction targets, and compliance with state-level energy policies.
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WEC Energy Group (NYSE: WEC) has announced a cash tender offer for up to $350 million of its outstanding senior notes. The offer targets three series of notes:
- 5.60% Senior Notes due 2026 (up to $125 million) - 1.80% Senior Notes due 2030 (up to $150 million) - 2.20% Senior Notes due 2028 (up to $100 million)
Holders who tender before the Early Tender Date of December 18, 2024, will receive the Total Consideration, including a $30 per $1,000 Early Tender Payment. The offer expires on January 6, 2025. Early Settlement Date is expected to be December 23, 2024, with Final Settlement Date on January 8, 2025.
WEC Energy Group (NYSE: WEC) announced plans to increase its quarterly dividend by 6.9% to 89.25 cents per share in Q1 2025, representing a 5.75 cents per share increase. The dividend, equivalent to an annual rate of $3.57 per share, would be payable March 1, 2025, to stockholders of record on February 14, 2025.
The company maintains a target dividend payout ratio of 65-70% of earnings and projects earnings growth of 6.5-7% compound annual growth rate. For 2025, WEC introduced earnings guidance of $5.17-$5.27 per share, with a midpoint of $5.22, representing 7.6% growth from the 2024 adjusted guidance midpoint of $4.85 per share.
ComEd, Nicor Gas, Peoples Gas, and North Shore Gas have joined the Better Business Bureau (BBB) of Chicago and Northern Illinois to warn customers about increased utility scams during the holiday season. Scammers are using new tactics, including QR codes, mobile banking apps, and posing as bill-management companies. They often threaten service disconnection and demand immediate payments. The companies emphasize that they never use aggressive tactics, demand immediate payment, or request personal information like Social Security numbers. Customers are advised to verify representative identities and contact utilities through official channels if suspicious.
Wisconsin Public Service (WPS) has been recognized as one of the top performing midsize utilities in PA Consulting's 2024 ReliabilityOne® Awards. The company earned this distinction for its exceptional reliability performance in 2023, particularly in maintaining power supply across northeast and north central Wisconsin.
WPS has enhanced its power grid through equipment upgrades, new technologies, and underground power line installations. These improvements have significantly boosted service reliability for their customers. The award acknowledges WPS's dedication to providing affordable, reliable, and clean energy, as well as their commitment to customer service.
The award category was open to all utilities operating in less dense electric delivery networks across North America.
WEC Energy Group reported Q3 2024 net income of $240.1 million ($0.76 per share), down from $316.0 million ($1.00 per share) in Q3 2023. Adjusted earnings were $0.82 per share, excluding a $0.06 per share charge related to disallowed capital expenditures. For the first nine months of 2024, net income was $1.07 billion ($3.40 per share) compared to $1.11 billion ($3.52 per share) in 2023. Consolidated revenues decreased by $359.8 million to $6.3 billion. Retail electricity deliveries increased 0.7% in Q3 2024. The company affirmed its 2024 earnings guidance of $4.74-$4.84 per share on a GAAP basis and $4.80-$4.90 per share adjusted.
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.
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