WEC Energy Group, Inc.
- Open
- 114.82
- Day high
- 115.69
- Day low
- 114.61
- Prev close
- 114.89
- Volume
- 1.6M
- Mkt cap
- $37.4B
- P/E (TTM)
- 22.8
- EPS (TTM)
- $5.05
- P/B
- 2.6
- P/S
- 3.7
- Yield
- 1.66%
- Per share
- $1.91
- ▼Insiders net selling -$518K over the last 3 months (0 open-market buys, 3 sales)
- 🏛Institutions accumulating (13F)
WEC Energy Group, Inc. (WEC) is a Utilities company listed on NYSE. The stock is up 9% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 3 sales (SEC Form 4).
WEC Energy Group, Inc. (WEC) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 3 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
WEC earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 5, 2026 | $2.30 | $2.45 | +6.5% | $3.4B | +3.4% |
| Feb 5, 2026 | $1.39 | $1.42 | +2.2% | $2.5B | +18.3% |
| Oct 30, 2025 | $0.81 | $0.83 | +2.5% | $2.1B | +11.1% |
| Jul 30, 2025 | $0.70 | $0.76 | +7.8% | $2.0B | +13.8% |
| Feb 4, 2025 | $1.49 | $1.43 | -4.0% | $2.3B | -10.7% |
| Oct 31, 2024 | $0.70 | $0.82 | +17.1% | $1.9B | -3.6% |
| Jul 31, 2024 | $0.64 | $0.67 | +4.7% | $1.8B | -5.4% |
| May 1, 2024 | $1.92 | $1.97 | +2.6% | $2.7B | -8.3% |
| Feb 1, 2024 | $1.10 | $1.10 | +0.0% | $2.2B | -25.3% |
| Oct 31, 2023 | $0.91 | $1.00 | +9.9% | $2.0B | -3.2% |
| Aug 1, 2023 | $0.85 | $0.92 | +8.2% | $1.8B | -10.9% |
| May 1, 2023 | $1.59 | $1.61 | +1.3% | $2.9B | +1.2% |
WEC insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 9, 2026 | Lane Thomas Kdirector | Grant | 267 | — |
| Jul 9, 2026 | Cunningham Danny Ldirector | Grant | 321 | — |
| Jul 9, 2026 | STANEK MARY ELLENdirector | Grant | 310 | — |
| May 20, 2026 | Krueger Danielofficer: EVP WEC Infrastructure | Option | 4,665 | $58.30 |
| May 20, 2026 | Krueger Danielofficer: EVP WEC Infrastructure | Sell | 2,000 | $110.85 |
| May 20, 2026 | Krueger Danielofficer: EVP WEC Infrastructure | Sell | 1,000 | $110.92 |
| May 20, 2026 | Krueger Danielofficer: EVP WEC Infrastructure | Sell | 1,665 | $111.11 |
| Apr 8, 2026 | STANEK MARY ELLENdirector | Grant | 309 | — |
| Apr 8, 2026 | Lane Thomas Kdirector | Grant | 296 | — |
| Apr 8, 2026 | Cunningham Danny Ldirector | Grant | 319 | — |
| Apr 2, 2026 | Hooper Michaelofficer: EVP & Chief Operating Officer | Grant | 2,582 | — |
| Apr 2, 2026 | Hooper Michaelofficer: EVP & Chief Operating Officer | Tax | 424 | $115.94 |
| Mar 6, 2026 | KELSEY MARGARET Cofficer: Executive VP & General Counsel | Grant | 657 | — |
| Feb 25, 2026 | PAYNE ULICE JRdirector | Sell | 1,450 | $114.60 |
| Feb 24, 2026 | KLAPPA GALE Edirector | Option | 3,180 | $68.17 |
Source: WEC SEC Form 4 filings, latest Jul 9, 2026. For informational purposes only — not investment advice.
See the full WEC insider & 13F page →WEC Energy Group, Inc. company profile
Overview
WEC Energy Group, Inc. (NYSE:WEC) is a major regulated electric and natural gas utility serving customers across Wisconsin, Illinois, Michigan, and Minnesota. The company was originally incorporated as Wisconsin Energy Corporation in 1981 and changed its name to WEC Energy Group in June 2015. WEC has grown through strategic acquisitions and investments to become one of the largest utility holding companies in the Midwest, with a regulated asset base of approximately $47 billion and serving over 4.6 million electric and natural gas customers.
Business
WEC Energy Group operates as a diversified utility holding company primarily focused on regulated electric and natural gas distribution services. The company generates, transmits, and distributes electricity from multiple sources including natural gas, coal, nuclear, wind, solar, hydroelectric, and biomass facilities. Additionally, WEC provides natural gas distribution services, transporting and delivering natural gas to residential, commercial, and industrial customers across its service territories. The company operates through six main business segments: 1. **Wisconsin Operations** (~60-65% of total earnings): This is WEC's largest segment, providing regulated electric and natural gas services to customers throughout Wisconsin. The segment includes electric generation, transmission, and distribution operations, as well as natural gas distribution networks serving major metropolitan areas including Milwaukee and Madison. 2. **Illinois Operations** (~15-20% of total earnings): Primarily focused on natural gas distribution services through Peoples Gas, serving the Chicago metropolitan area and northern Illinois. This segment also includes some electric operations in the region. 3. **Other States Operations** (~10-15% of total earnings): Includes natural gas distribution services in Michigan and Minnesota, serving customers in the Upper Peninsula of Michigan and parts of Minnesota. 4. **Electric Transmission** (~5-10% of total earnings): WEC owns approximately 34% of American Transmission Company (ATC), which operates high-voltage transmission infrastructure across Wisconsin and portions of neighboring states. This segment benefits from ongoing grid modernization and expansion investments. 5. **Non-Utility Energy Infrastructure** (~5-10% of total earnings): This segment includes renewable energy projects, energy storage facilities, and other non-regulated energy infrastructure investments. The company has been expanding this segment through solar and wind project acquisitions. 6. **Corporate and Other**: Includes holding company activities, financing operations, and other corporate functions. WEC's infrastructure includes approximately 35,800 miles of overhead distribution lines, 35,600 miles of underground distribution cables, 50,900 miles of natural gas distribution mains, and 1,200 miles of natural gas transmission mains. The company operates 440 electric distribution substations and maintains 68.2 billion cubic feet of working gas storage capacity.
Revenue model
WEC Energy Group generates revenue primarily through regulated utility rate structures approved by state public utility commissions. The company operates under a traditional regulated utility business model where rates are set to allow recovery of operating expenses, capital investments, and a reasonable return on invested capital. **Electric Operations Revenue**: WEC earns revenue by selling electricity to residential, commercial, and industrial customers at regulated rates. The company generates electricity from its owned generation facilities and purchases additional power from wholesale markets when needed. Electric rates are typically structured with both fixed monthly charges and variable usage-based charges measured in kilowatt-hours (kWh). **Natural Gas Operations Revenue**: The company distributes natural gas to customers and earns revenue through regulated distribution rates. Natural gas operations involve purchasing gas from suppliers and delivering it through the company's pipeline network to end customers. Revenue is generated through monthly service charges and volumetric charges based on natural gas consumption measured in therms or cubic feet. **Transmission Revenue**: Through its ownership stake in American Transmission Company, WEC earns revenue from transmission services provided to utilities and load-serving entities across the regional transmission grid. These revenues are regulated by the Federal Energy Regulatory Commission (FERC). **Non-Utility Infrastructure Revenue**: This segment generates revenue through power purchase agreements for renewable energy projects, production tax credits, and other non-regulated energy infrastructure investments. Several factors influence WEC's profitability margins. **Weather patterns** significantly impact both electric and natural gas demand, with extreme temperatures driving higher usage and revenue. **Economic growth** in the service territory, particularly industrial and commercial development, increases electricity and natural gas demand. **Commodity prices** for natural gas and coal affect fuel costs, though these are typically passed through to customers with minimal margin impact. **Regulatory decisions** on allowed returns on equity, rate structures, and cost recovery mechanisms directly impact profitability. **Capital investment opportunities** in infrastructure modernization, renewable energy, and grid expansion can drive long-term earnings growth through increased rate base. **Interest rates** affect financing costs for the company's substantial capital investment programs.
Competitive moat
WEC Energy Group operates within a regulated utility framework that provides several natural competitive advantages, though the strength of these moats varies by business segment. The company's **regulated monopoly status** in its electric and natural gas distribution territories creates the strongest moat, as customers cannot choose alternative providers for basic utility services. This regulatory protection is reinforced by **high barriers to entry** due to the massive capital requirements needed to build competing electric and gas distribution infrastructure. The company benefits from **essential service provision**, as electricity and natural gas are fundamental necessities for residential and commercial customers, creating relatively inelastic demand. WEC's **substantial physical infrastructure** - including thousands of miles of distribution lines, substations, and gas storage facilities - represents decades of accumulated investment that would be extremely difficult and expensive for competitors to replicate. However, the strength of WEC's moat faces several challenges. **Regulatory risk** is inherent in the utility business model, as state commissions can alter allowed returns, cost recovery mechanisms, and rate structures. The company's **geographic concentration** in the upper Midwest creates exposure to regional economic cycles and weather patterns. **Technological disruption** poses long-term risks, particularly from distributed solar generation, battery storage, and energy efficiency improvements that could reduce demand for traditional utility services. The **energy transition** presents both opportunities and threats to WEC's moat. While the company is investing heavily in renewable energy projects, the shift away from fossil fuels could strand some existing assets and require substantial capital investments to maintain competitive positioning. **Competition from renewable energy providers** and potential changes in regulatory frameworks supporting distributed generation could erode the traditional utility monopoly model over time. Overall, WEC maintains a moderately strong moat in its core regulated utility operations, but the company must continue investing in grid modernization and renewable energy to maintain its competitive position as the energy sector evolves.
Risks & safety
WEC Energy Group demonstrates a solid financial position with moderate leverage typical of regulated utilities, though some metrics warrant attention. **Overall Assessment**: The company maintains adequate financial stability with strong cash flow generation, though current liquidity ratios are below optimal levels. **Liquidity and Solvency**: - Current ratio of 0.50 indicates potential short-term liquidity constraints - Quick ratio of 0.40 suggests limited liquid assets relative to current liabilities - Cash and short-term investments of only $82 million appear low for a company of this size - Strong operating cash flow of $1.16 billion in Q1 2025 provides operational liquidity - Free cash flow of $461 million demonstrates ability to fund operations and dividends **Debt Levels**: - Debt-to-equity ratio of 1.58 is elevated but typical for capital-intensive utilities - Total liabilities of $34.8 billion against total assets of $48.2 billion - Interest coverage appears adequate based on strong EBITDA of $1.37 billion quarterly **Valuation Metrics**: - Price-to-earnings ratio of 12.0 suggests reasonable valuation - EV/EBITDA of 10.1 is moderate for a utility - Price-to-book ratio of 2.67 reflects premium to book value - Graham number of 45.76 compared to current price of $109.62 indicates potential overvaluation by traditional value metrics **Other Considerations**: - Regulated utility business model provides predictable cash flows - Substantial capital investment program of $28 billion over five years will require significant financing - Dividend payout ratio target of 65-70% appears sustainable based on earnings growth projections
Recent development
Over the past several years, WEC Energy Group has undergone significant strategic transformation focused on renewable energy expansion, grid modernization, and positioning for economic growth in its service territories. The company has dramatically increased its capital investment program from $20.1 billion in 2022 to $28 billion for the current five-year period, representing the largest investment plan in company history. **Renewable Energy Expansion**: WEC has committed to investing $9.1 billion in renewable generation, including 2,900 MW of solar capacity, 900 MW of wind, and 600 MW of battery storage. Recent projects include the completion of Paris Solar Park (180 MW), Darien Solar Park (225 MW), and acquisitions of multiple solar facilities including Samson Solar Energy Center and High Noon Solar Energy Center. The company has been actively developing its renewable portfolio to support both decarbonization goals and growing electricity demand. **Economic Development Response**: WEC has positioned itself to capitalize on significant economic development in Wisconsin, particularly around data center construction. Major developments include Microsoft's $3.3 billion investment in cloud computing and AI infrastructure, Eli Lilly's $3 billion manufacturing facility expansion, and Cloverleaf's announced 1,700-acre data center campus with potential for 1-3.5 gigawatts of load. The company projects adding 1,800 megawatts of additional demand over the next five years, representing approximately 20% growth from current levels. **Grid Modernization and Infrastructure**: The company has been investing heavily in transmission and distribution infrastructure, including participation in MISO transmission expansion projects. WEC has filed for approval of 1,200 megawatts of new natural gas generation capacity and a 2 billion cubic foot LNG storage facility to support reliability and peak demand requirements. **Regulatory Strategy**: WEC has developed new rate structures, including a Very Large Customer (VLC) tariff in Wisconsin to accommodate major industrial and data center customers. In Illinois, the company has been navigating regulatory challenges around natural gas infrastructure investment, with over $500 million annually planned for pipeline safety modernization starting in 2028. **Financial Strategy Evolution**: The company has maintained its dividend growth streak with 22 consecutive years of increases, most recently raising the dividend by 6.9% to $3.57 annually. WEC has also been actively managing its capital structure, planning to raise $700-800 million in common equity in 2025 to support its expanded investment program while maintaining target credit metrics.
WEC company profile · for informational purposes only — not investment advice.
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