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 (NYSE: WEC) has appointed Maria Bocanegra as president of Peoples Gas and North Shore Gas, effective January 2, 2025. Bocanegra, previously chief legal and government relations officer at the Port of Cleveland, will oversee daily operations, strategy, and administrative activities for the two Illinois utilities serving nearly 1 million customers in Chicago and 54 northern suburban communities.
Prior to her Port of Cleveland role, Bocanegra served as a commissioner with the Illinois Commerce Commission, regulating utilities and engaging in energy and water issues. She holds a bachelor's degree in political science from Quincy University and a juris doctor from DePaul University College of Law.
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.
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