WEC Energy očekává za čtvrtletí EPS ve výši 0,95 USD, meziročně o 14,5 % více, a tržby ve výši 2,23 miliardy USD (+6 %). Ukazatel Earnings ESP ve výši +2,89 % naznačuje možné překonání odhadů.
WEC Energy Group (WEC - Free Report) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended September 2026. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.
The earnings report, which is expected to be released on October 29, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.
While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.
Zacks Consensus EstimateThis electricity and natural gas provider is expected to post quarterly earnings of $0.95 per share in its upcoming report, which represents a year-over-year change of +14.5%.
Revenues are expected to be $2.23 billion, up 6% from the year-ago quarter.
Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 2.41% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.
Price, Consensus and EPS Surprise
Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for WEC Energy?For WEC Energy, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +2.89%.
On the other hand, the stock currently carries a Zacks Rank of #3.
So, this combination indicates that WEC Energy will most likely beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that WEC Energy would post earnings of $0.8 per share when it actually produced earnings of $0.91, delivering a surprise of +13.75%.
Over the last four quarters, the company has beaten consensus EPS estimates four times.
Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
WEC Energy appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
Expected Results of an Industry PlayerAmong the stocks in the Zacks Utility - Electric Power industry, NiSource (NI - Free Report) , is soon expected to post earnings of $0.22 per share for the quarter ended September 2026. This estimate indicates a year-over-year change of +15.8%. This quarter's revenue is expected to be $1.39 billion, up 9.5% from the year-ago quarter.
Over the last 30 days, the consensus EPS estimate for NiSource has been revised 1.7% up to the current level. Nevertheless, the company now has an Earnings ESP of +7.87%, reflecting a higher Most Accurate Estimate.
This Earnings ESP, combined with its Zacks Rank #3 (Hold), suggests that NiSource will most likely beat the consensus EPS estimate. Over the last four quarters, the company surpassed consensus EPS estimates two times.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
, /PRNewswire/ -- The board of directors of WEC Energy Group (NYSE: WEC) today declared a quarterly cash dividend of 95.25 cents per share on the company's common stock.
The dividend is payable Dec. 1, 2026, to stockholders of record on Nov. 13, 2026. This marks the 337th consecutive quarter — dating back to 1942 — that the company will have paid a dividend to its stockholders.
WEC Energy Group (NYSE: WEC), based in Milwaukee, is one of the nation's premier energy companies, serving 4.8 million customers in Wisconsin, Illinois, Michigan and Minnesota.
The company's principal utilities are We Energies, Wisconsin Public Service, Peoples Gas, North Shore Gas, Michigan Gas Utilities, Minnesota Energy Resources and Upper Michigan Energy Resources. Another major subsidiary, We Power, designs, builds and owns electric generating plants. In addition, WEC Infrastructure LLC owns a fleet of renewable generation facilities in states ranging from South Dakota to Texas.
WEC Energy Group (wecenergygroup.com) is a Fortune 500 company and a component of the S&P 500. The company has approximately 31,000 stockholders of record, 7,000 employees and more than $53 billion of assets.
Corient Private Wealth LP ve 2. čtvrtletí zvýšila svůj podíl ve WEC Energy Group o 68 % a držela 189 670 akcií. Hodnota pozice činila 22,148 milionu USD.
Corient Private Wealth LP increased its position in WEC Energy Group, Inc. (NYSE:WEC – Free Report) by 68.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 189,670 shares of the utilities provider’s stock after buying an additional 76,784 shares during the period. Corient Private Wealth LP owned about 0.06% of WEC Energy Group worth $22,148,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in WEC. California State Teachers Retirement System boosted its holdings in shares of WEC Energy Group by 11,738.1% in the 2nd quarter. California State Teachers Retirement System now owns 44,289,343 shares of the utilities provider’s stock worth $5,171,667,000 after purchasing an additional 43,915,218 shares during the period. Geode Capital Management LLC grew its holdings in WEC Energy Group by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 8,838,003 shares of the utilities provider’s stock worth $928,653,000 after acquiring an additional 88,557 shares in the last quarter. Franklin Resources Inc. increased its holdings in WEC Energy Group by 175.0% during the fourth quarter. Franklin Resources Inc. now owns 3,357,608 shares of the utilities provider’s stock valued at $354,093,000 after buying an additional 2,136,542 shares during the period. Legal & General Group Plc purchased a new position in shares of WEC Energy Group in the 2nd quarter valued at $299,100,000. Finally, PNC Financial Services Group Inc. grew its stake in WEC Energy Group by 0.3% in the first quarter. PNC Financial Services Group Inc. now owns 2,571,015 shares of the utilities provider’s stock valued at $297,646,000 after purchasing an additional 7,206 shares during the last quarter. 77.20% of the stock is owned by hedge funds and other institutional investors.
WEC Energy Group Stock Down 0.2% NYSE WEC opened at $105.09 on Tuesday. The company has a quick ratio of 0.39, a current ratio of 0.53 and a debt-to-equity ratio of 1.35. The firm has a market cap of $34.24 billion, a PE ratio of 20.37, a P/E/G ratio of 2.17 and a beta of 0.47. The business’s fifty day simple moving average is $109.86 and its 200-day simple moving average is $112.88. WEC Energy Group, Inc. has a 52 week low of $102.95 and a 52 week high of $119.91.
WEC Energy Group (NYSE:WEC – Get Free Report) last posted its earnings results on Wednesday, July 29th. The utilities provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.11. The company had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $2.11 billion. WEC Energy Group had a return on equity of 12.90% and a net margin of 16.69%.The company’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.76 earnings per share. WEC Energy Group has set its FY 2026 guidance at 5.510-5.610 EPS. As a group, equities analysts anticipate that WEC Energy Group, Inc. will post 5.59 earnings per share for the current year. WEC Energy Group Dividend Announcement The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th were given a dividend of $0.9525 per share. This represents a $3.81 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Friday, August 14th. WEC Energy Group’s dividend payout ratio (DPR) is presently 73.84%.
Analysts Set New Price Targets WEC has been the subject of several analyst reports. JPMorgan Chase & Co. increased their price objective on WEC Energy Group from $120.00 to $124.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. KeyCorp dropped their price objective on shares of WEC Energy Group from $126.00 to $117.00 and set an “overweight” rating on the stock in a report on Thursday, July 23rd. Weiss Ratings raised WEC Energy Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, September 8th. Truist Financial cut their price objective on shares of WEC Energy Group from $122.00 to $114.00 and set a “hold” rating for the company in a report on Thursday, August 13th. Finally, LADENBURG THALM/SH SH cut WEC Energy Group from a “buy” rating to a “neutral” rating and set a $110.50 price objective for the company. in a research report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, WEC Energy Group presently has an average rating of “Moderate Buy” and an average target price of $121.91.
Get Our Latest Stock Report on WEC
Insider Transactions at WEC Energy Group In other news, Director Ulice Payne, Jr. sold 980 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $105.58, for a total transaction of $103,468.40. Following the completion of the sale, the director owned 19,588 shares in the company, valued at $2,068,101.04. This represents a 4.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.46% of the stock is owned by company insiders.
WEC Energy Group Profile (Free Report)
WEC Energy Group is a diversified energy holding company headquartered in Milwaukee, Wisconsin. Through its utility subsidiaries, the company generates and distributes electricity and delivers natural gas to residential, commercial, and industrial customers.
WEC Energy Group serves customers primarily in Wisconsin, Illinois, Michigan, and Minnesota. Its operating companies include We Energies, Wisconsin Public Service, Upper Michigan Energy Resources, Minnesota Energy Resources, Michigan Gas Utilities, North Shore Gas, and Peoples Gas.
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Poptávka datových center po elektřině prudce roste a regulované utility z toho těží přes dlouhodobé smlouvy a vyšší regulovanou bázi aktiv. V článku jsou jako hlavní příjemci uvedeny Southern Company, Duke Energy, WEC Energy Group, Xcel Energy a Consolidated Edison.
Data centers are doubling their power demands almost overnight, and regulated utilities that lock in long-term supply contracts stand to collect that revenue for decades. Five names are positioned at the center of this shift, but each carries a different…
Regulated electric utilities earn their returns through a rate case process, where state commissions approve a required investment base and an allowed return on equity. That structure turns capital spending on poles, wires, substations, and generation into predictable earnings, which is what makes utility dividends usable for retirement income. Right now, the tailwind is unusually strong: the average individual data center load doubled from 150 to 300 megawatts (MW) between 2023 and 2024, and that surge is pulling regulated rate base higher across the Southeast, Midwest, and Northeast. Here are five US-listed regulated names built for steady checks.
Southern Company: Sun Belt Rate Base Meets Data Center Demand Southern Company (NYSE:SO | SO Price Prediction) pays an annualized dividend of $2.98 per share for a yield of 3.37%, with the most recent quarterly payment stepped up to $0.76. Trailing EPS of $4.15 against that payout leaves comfortable coverage, and the stock trades at a trailing P/E of 21. Adjusted Q2 EPS of $1.13 beat consensus, and management guided full-year adjusted EPS “near or at the top of our 2026 adjusted EPS guidance range of $4.50 to $4.60.”
The bull case is scale of contracted load. Total large-load agreements now sit at “over 17 gigawatts by the mid 2030s,” including a 3.2 gigawatt, 25-year electric-service contract with OpenAI for a site near Savannah, Georgia. Retail base rates in Georgia and Alabama are held stable until 2029, which reduces regulatory friction while the build-out earns a return. However, Southern Power carries some merchant and contracted-generation exposure, and accelerated depreciation tied to wind repowering is a near-term earnings drag.
Duke Energy: Two Decades of Raises and a Massive Build Plan Duke Energy (NYSE:DUK) yields 3.54% on an annualized dividend of $4.26, with the September payment lifted to $1.085 from $1.065. Management explicitly noted the July hike “marking over 20 years of consecutive annual dividend increases” and framed the 2% raise as consistent with recent years. Trailing EPS of $6.64 covers the payout, and adjusted Q2 EPS of $1.43 topped consensus expectations. Shares trade at a trailing P/E of 18.
Duke is fully regulated and deploying capital at “more than $1 billion per month,” with 7.8 gigawatts of data-center electric service agreements already signed and a remaining 15.4 gigawatt pipeline targeted to convert by the first half of 2027. Management reaffirmed 5% to 7% long-term EPS growth through 2030 and expects to land in the top half beginning in 2028. However, there is an FFO-to-debt target of 14.5% that leaves less cushion than peers, so rising interest expense and any coal-ash remediation surprises could pressure credit metrics.
WEC Energy Group: Wisconsin’s Steady Compounder WEC Energy Group (NYSE:WEC) yields 3.48% on an annualized dividend of $3.69, with the quarterly rate now $0.9525, up from $0.8925 through 2025. Trailing EPS of $5.11 supports the payout, and Q2 EPS of $0.91 topped consensus expectations. Dividend history at the company shows a durable step-up cadence: quarterly payments rose from 0.6775 in 2021 to 0.7275 in 2022, 0.78 in 2023, 0.835 in 2024, 0.8925 in 2025, and 0.9525 in 2026.
Fiscal 2025 operating cash flow was $3,379,400,000 against common dividend payouts of $1,147,800,000. Bull case: We Energies and Wisconsin Public Service are seeing weather-normalized retail electricity deliveries up 1.2% with heavy data-center capex driving future rate base. The risk here is that capital expenditures of $4,398,100,000 in 2025 exceeded operating cash flow, meaning growth is being financed with debt and equity, which raises the sensitivity to interest expense.
Xcel Energy: Clean Power Buildout for Google and Beyond Xcel Energy (NASDAQ:XEL) yields 3.05% on an annualized dividend of $2.325, with a quarterly payment of $0.5925. Trailing EPS of $3.61 covers the dividend, and Xcel publicly targets a payout ratio of 45%-55% alongside annual dividend increases of 4%-6%. Quarterly increases are visible in the record, moving from 0.5475 across 2024 to 0.57 in 2025 to 0.5925 in 2026. Shares trade at a trailing P/E of 21.
The bull case centers on hyperscaler load. Xcel signed a landmark Google data center electric service agreement in Minnesota (1,900 MW clean energy resources, projected ~$1.1B customer benefits), and weather-normalized C&I electric sales grew 3% YTD. On the other hand, wildfire liability is real. Total estimated losses from Smokehouse Creek stand at $503M with only ~$80M insurance remaining, and Marshall Wildfire settlements totaled $640M. Moody’s carries a negative outlook on Xcel unsecured debt, and heavy 2025 capex of $10,908,000,000 against operating cash flow of $4,083,000,000 means the equity issuance treadmill continues.
Consolidated Edison: 52 Years of Dividend Increases in NYC Consolidated Edison (NYSE:ED) yields 3.23% on an annualized dividend of $3.475, with a quarterly rate of $0.8875. The 2026 raise marks the 52nd consecutive year of dividend increases with 4.4% annualized raise in 2026, a streak long enough to place ED in Dividend King territory. Trailing EPS of $6.04 covers the payout, adjusted Q2 EPS of $0.83 topped consensus expectations, and shares trade at a trailing P/E of 18.
ED is a pure-play regulated utility serving New York City and Westchester, exactly the load pocket where electrification of new buildings is driving 20%-25% higher electric demand. Con Edison projects an 8.8% five-year CAGR in regulated investment base from $46.4B (2025) to ~$67.2B by 2030, which is the machinery that keeps the streak alive. However, New York’s Chapter 58 law may constrain future rate increases, and the $2B ATM equity offering announced in May 2026 introduces dilution as capex ramps to $8.6B by 2030.
Putting the Five Together These five names sit on the same tailwind: accelerating electricity demand from data centers and building electrification is turning regulated capex into rate base and rate base into earnings that fund the dividend. ED wins on streak length and NYC electrification, DUK offers the largest capital plan with a two-decade raise record, SO brings contracted hyperscaler load in the Sun Belt, WEC is the steady Midwestern compounder, and XEL carries the highest growth targets alongside the highest wildfire tail risk. For retirees prioritizing income durability over yield, ED and DUK carry the cleanest track records; for those willing to accept more capex intensity to buy into the data-center build, SO, WEC, and XEL are the levered plays. If the goal is turning a mid six-figure balance into a monthly check rather than picking the winner among five, we sketched the full math in a free income guide.
Contact [email protected] for any questions or corrections.
Callan Family Office ve 2. čtvrtletí koupila nový podíl ve společnosti WEC Energy Group za zhruba 967 000 USD. Společnost zároveň oznámila čtvrtletní zisk na akcii (EPS) 0,91 USD, nad odhadem 0,80 USD.
Callan Family Office LLC bought a new stake in WEC Energy Group, Inc. (NYSE:WEC – Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 8,279 shares of the utilities provider’s stock, valued at approximately $967,000.
Other institutional investors also recently bought and sold shares of the company. Pictet Asset Management Holding SA lifted its position in shares of WEC Energy Group by 195.1% during the 4th quarter. Pictet Asset Management Holding SA now owns 482,309 shares of the utilities provider’s stock worth $50,864,000 after buying an additional 318,846 shares during the last quarter. North Dakota State Investment Board purchased a new stake in WEC Energy Group in the fourth quarter valued at $1,155,000. Annex Advisory Services LLC boosted its stake in WEC Energy Group by 8.6% in the second quarter. Annex Advisory Services LLC now owns 121,431 shares of the utilities provider’s stock valued at $14,179,000 after acquiring an additional 9,591 shares in the last quarter. Sterling Capital Management LLC grew its holdings in shares of WEC Energy Group by 106.3% during the first quarter. Sterling Capital Management LLC now owns 44,046 shares of the utilities provider’s stock worth $5,099,000 after purchasing an additional 22,697 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of WEC Energy Group by 9.8% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 698,377 shares of the utilities provider’s stock worth $74,356,000 after purchasing an additional 62,243 shares in the last quarter. 77.20% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades A number of brokerages recently issued reports on WEC. BMO Capital Markets decreased their target price on WEC Energy Group from $120.00 to $117.00 and set a “market perform” rating for the company in a research report on Wednesday, July 22nd. KeyCorp lowered their price objective on shares of WEC Energy Group from $126.00 to $117.00 and set an “overweight” rating on the stock in a research report on Thursday, July 23rd. Truist Financial reduced their target price on shares of WEC Energy Group from $122.00 to $114.00 and set a “hold” rating for the company in a report on Thursday, August 13th. Weiss Ratings downgraded shares of WEC Energy Group from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, August 5th. Finally, Wall Street Zen cut WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Sunday, May 24th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $121.91.
Read Our Latest Research Report on WEC Insider Transactions at WEC Energy Group In other WEC Energy Group news, Director Ulice Payne, Jr. sold 980 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $105.58, for a total value of $103,468.40. Following the completion of the sale, the director owned 19,588 shares of the company’s stock, valued at approximately $2,068,101.04. This trade represents a 4.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.46% of the company’s stock.
WEC Energy Group Stock Up 1.5% Shares of NYSE:WEC opened at $107.60 on Tuesday. WEC Energy Group, Inc. has a fifty-two week low of $102.95 and a fifty-two week high of $119.91. The company has a quick ratio of 0.39, a current ratio of 0.53 and a debt-to-equity ratio of 1.35. The firm’s 50-day simple moving average is $112.73 and its 200-day simple moving average is $113.70. The company has a market cap of $35.06 billion, a price-to-earnings ratio of 20.85, a PEG ratio of 1.83 and a beta of 0.47.
WEC Energy Group (NYSE:WEC – Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The utilities provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.11. WEC Energy Group had a net margin of 16.69% and a return on equity of 12.90%. The firm had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter last year, the firm earned $0.76 earnings per share. The firm’s revenue was up 2.6% compared to the same quarter last year. WEC Energy Group has set its FY 2026 guidance at 5.510-5.610 EPS. As a group, equities research analysts predict that WEC Energy Group, Inc. will post 5.59 earnings per share for the current year.
WEC Energy Group Dividend Announcement The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be issued a dividend of $0.9525 per share. This represents a $3.81 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Friday, August 14th. WEC Energy Group’s dividend payout ratio is currently 73.84%.
(Free Report)
WEC Energy Group is a Milwaukee, Wisconsin–based regulated energy holding company whose primary businesses are the generation, transmission and distribution of electricity and the distribution of natural gas. The company operates through a set of utility subsidiaries that provide bundled energy service, customer billing and energy-related programs to residential, commercial and industrial customers. As a regulated utility group, WEC’s operations focus on delivering reliable service while managing infrastructure investment and compliance with state and federal utility regulation.
Its utility subsidiaries include well-known regional operators such as We Energies and Wisconsin Public Service, along with Chicago-area natural gas utilities that were part of the Integrys Energy Group acquisition.
Further Reading Five stocks we like better than WEC Energy Group Visa Just Put Hims & Hers in the Penalty Box—Here’s Why It Matters Treasury Yields Are Surging Again: 3 Stocks That Could Feel the Pain Snowflake Could Be Headed for New Highs Despite Insider Selling MongoDB Is Surging—And the Next Catalyst Is Almost Here Want to see what other hedge funds are holding WEC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WEC Energy Group, Inc. (NYSE:WEC – Free Report).
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It has been about a month since the last earnings report for WEC Energy Group (WEC - Free Report) . Shares have lost about 3.4% in that time frame, underperforming the S&P 500.
But investors have to be wondering, will the recent negative trend continue leading up to its next earnings release, or is WEC Energy due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the latest earnings report in order to get a better handle on the important catalysts.
WEC Q2 Earnings Surpass on Rate Base Growth, Revenues Rise Y/Y
WEC Energy Group reported second-quarter 2026 earnings of 91 cents per share, which surpassed the Zacks Consensus Estimate of 80 cents by 13.75%. The bottom line also increased 19.74% from the year-ago quarter’s 76 cents, aided by rate base growth and stronger energy infrastructure results.
WEC’s RevenuesOperating revenues of $2.06 billion missed the Zacks Consensus Estimate of $2.11 billion by around 2.26%. The top line also increased 2.62% from $2.01 billion recorded in the year-ago quarter.
WEC's Sales and Load TrendsRetail electricity deliveries, excluding the iron ore mine and Very Large Customers, were essentially flat on a reported basis. Small commercial and industrial use declined 0.2%, while large commercial and industrial consumption increased 0.9%. Residential use fell 1.1%.
On a weather-normal basis, retail electricity deliveries, excluding the iron ore mine and Very Large Customers, increased 1.2% during second-quarter 2026. Management said volumes grew across all customer classes and came in slightly ahead of its forecast, though it still expects full-year 2026 weather-normalized sales on this basis to be relatively even with 2025.
Total electric sales volume for the second quarter was 10,150 thousand megawatt-hours, down 4.7% year over year.
WEC's Costs and Operating ResultsTotal operating expenses increased 1.5% year over year to $1.63 billion, primarily reflecting a 3.5% rise in other operation and maintenance expenses to $617.1 million and a 4.3% increase in depreciation and amortization to $384.9 million.
Operating income totaled $432.8 million, up 6.9% from $404.9 million recorded in the year-ago quarter.
Equity earnings from transmission affiliates increased 20.6% to $62.6 million, while other income more than doubled to $61.5 million.
The company incurred interest expense of $228.9 million, up 3.7% from the prior-year level of $220.8 million.
WEC Energy's Balance Sheet and Cash FlowAs of June 30, 2026, WEC had cash and cash equivalents of $50 million compared with $27.6 million as of Dec. 31, 2025.
As of June 30, 2026, long-term debt increased to $19.22 billion from $18.50 billion as of Dec. 31, 2025, while total assets rose to $52.75 billion from $51.52 billion over the same period.
Net cash provided by operating activities increased 9.7% year over year to $2.21 billion in the first six months of 2026.
For the six months ended June 30, 2026, capital expenditures rose 35.9% year over year to $2.08 billion. WEC also expects to issue about $1.1 billion of common equity during 2026.
WEC Energy’s Growth Outlook and Capital PlanWEC Energy reaffirmed its 2026 earnings guidance of $5.51-$5.61 per share, assuming normal weather conditions for the remainder of the year. For the third quarter, management expects earnings of 92-98 cents per share.
The company reaffirmed its long-term annual earnings growth target of 7-8% through 2030 and expects growth to trend toward the upper half of that range beginning in 2028.
WEC's five-year capital plan calls for $37.5 billion of investment through 2030. The program includes $20.3 billion for electric generation, $7.1 billion for gas distribution, $4.7 billion for electric distribution, $4.1 billion for transmission and $1.3 billion for Wisconsin liquefied natural gas capacity.
Data center demand remains central to the outlook. WEC forecasts 2.6 gigawatts of demand from Microsoft's regional development through 2030 and 1.3 gigawatts from the Vantage Data Centers over the next five years.
How Have Estimates Been Moving Since Then?Estimates revision followed a downward path over the past two months.
VGM ScoresCurrently, WEC Energy has a subpar Growth Score of D, however its Momentum Score is doing a lot better with a B. Charting a somewhat similar path, the stock has a score of C on the value side, putting it in the middle 20% for this investment strategy.
Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook WEC Energy has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
3 Utility Stocks With Strong Dividends and Room to Run HigherWEC Energy Group NYSE: WEC reported second-quarter 2026 earnings of $0.91 per diluted share, up $0.15 from the same period a year earlier, and reaffirmed its full-year earnings guidance of $5.51 to $5.61 per share, assuming normal weather for the remainder of the year.
President and Chief Executive Officer Scott Lauber said the company’s results reflected continued execution, financial discipline and operating efficiency. Management also maintained its long-term outlook for compound annual earnings-per-share growth of 7% to 8% from 2026 through 2030, based on the midpoint of 2025 adjusted guidance, and expects growth to move toward the upper half of that range beginning in 2028.
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Data-center development supports capital plan 3 Utility Stocks That Will Benefit from Less RegulationLauber pointed to continued data-center development in Wisconsin as a foundation for the company’s $37.5 billion five-year capital investment plan. The plan is focused on projects management characterized as low risk and executable, including investments to serve large customers. WEC expects approximately 15% of its asset base to be dedicated to very large customers by the end of 2030.
At Microsoft’s Pleasant Prairie site, the first data-center facility is fully operational, Lauber said. Microsoft has acquired more than 2,200 acres in the I-94 corridor south of Milwaukee, where WEC is preparing to serve a forecasted 2.6 gigawatts of demand through 2030, with potential for additional expansion.
3 undervalued stocks: Is now the right time to buy?North of Milwaukee, Vantage Data Centers is constructing facilities for Oracle on about 1,900 acres. The initial phase is being built on 670 acres, with Vantage expecting to invest $15 billion to complete that phase in 2028. Structural framework has been completed on multiple buildings, and the first facility could enter service as early as late 2027, according to Lauber.
WEC currently forecasts 1.3 gigawatts of demand at the Vantage site over the next five years, with potential demand eventually reaching 3.5 gigawatts. Lauber said the company is also discussing potential projects with other large customers, generally in the range of 400 to 500 megawatts rather than the scale of the Microsoft and Vantage developments.
Construction is also continuing on natural-gas generation facilities in Paris and Oak Creek, Wisconsin, which WEC expects to begin coming online in late 2027. Looking ahead, Lauber said a future plan could include a combined-cycle generating facility rather than only simple-cycle generation, as the company evaluates the need for both energy and capacity to support customer demand.
Second-quarter earnings drivers Chief Financial Officer Xia Liu said utility operations contributed $0.06 more to earnings than in the second quarter of 2025. Weather reduced quarter-over-quarter earnings by approximately $0.05, as weather had an estimated negative $0.03 impact in the 2026 quarter compared with a positive $0.02 effect a year earlier.
Rate-base growth added $0.13 per share, including $0.09 from incremental allowance for funds used during construction equity and $0.02 from incremental cash returns associated largely with projects under construction supporting very large customers. Sales growth, taxes and other items added a combined $0.06.
Those gains were partly offset by $0.05 from higher depreciation and amortization expense and $0.03 from higher day-to-day operations and maintenance costs. At American Transmission Company, capital investment growth added $0.03 to quarterly earnings versus the prior-year period.
Weather-normalized retail electric sales increased 4.2% year over year, driven by very large customers. Excluding the iron ore mine and very large customers, sales rose 1.2%, supported by higher volumes across all customer classes. Despite the quarterly performance, management expects full-year 2026 weather-normalized electric sales, excluding those customers, to be relatively even with 2025.
The energy infrastructure segment’s earnings increased $0.11 per share from the prior-year quarter. Liu said the comparison included the absence of a prior-year storm-related asset impairment and an insurance payment received during the current quarter, which together accounted for a net $0.04. The remaining improvement was largely related to operations and maintenance timing, production tax credits, capacity payments and other items. Liu said some of the favorable O&M timing is expected to reverse in the fourth quarter.
Regulatory and financing updates In May, the Public Service Commission of Wisconsin issued its written order for WEC’s very large customer tariff. Lauber said the tariff requires large customers to pay their full share of costs. The company is working with Oracle to update financial security requirements for the Port Washington project in accordance with commission requirements.
Lauber said Oracle remains committed to the project and that construction is continuing on time and on budget. He said the company sees other potential users for the site in a worst-case scenario in which Oracle did not expand, but added that he had no indication such an outcome was expected.
WEC’s Wisconsin rate request for forward-looking test years 2027 and 2028 remains pending. Staff and intervener testimony is due in mid-August, with final commission orders expected by year-end and new rates scheduled to take effect in January 2027 and 2028. In Illinois, the Illinois Commerce Commission in May unanimously approved settlements involving the Rider QIP and bad-debt rider, resolving 12 open dockets. WEC also expects a decision by year-end on its Illinois utility rate request for the 2027 test year.
Liu said WEC had locked in about $760 million of common equity in the first half, including approximately $40 million under an employee benefit plan and $720 million through forward contracts under its at-the-market program. The company expects to issue about $1.1 billion of common equity during 2026 and said incremental capital beyond the current plan is expected to carry 50% equity content.
For the third quarter, WEC expects earnings of $0.92 to $0.98 per share, incorporating July weather and assuming normal weather for the balance of the quarter. The board’s 6.7% dividend increase announced in January marked the company’s 23rd consecutive year of higher dividends, Lauber said.
About WEC Energy Group (NYSE:WEC)WEC Energy Group is a Milwaukee, Wisconsin–based regulated energy holding company whose primary businesses are the generation, transmission and distribution of electricity and the distribution of natural gas. The company operates through a set of utility subsidiaries that provide bundled energy service, customer billing and energy-related programs to residential, commercial and industrial customers. As a regulated utility group, WEC's operations focus on delivering reliable service while managing infrastructure investment and compliance with state and federal utility regulation.
Its utility subsidiaries include well-known regional operators such as We Energies and Wisconsin Public Service, along with Chicago-area natural gas utilities that were part of the Integrys Energy Group acquisition.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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WEC Energy Group ve 2. čtvrtletí zvýšila čistý zisk na 299,2 mil. USD, tedy 0,91 USD na akcii, z 245,4 mil. USD loni. Zároveň potvrdila celoroční výhled zisku 5,51 až 5,61 USD na akcii.
, /PRNewswire/ -- WEC Energy Group (NYSE: WEC) today reported net income of $299.2 million, or 91 cents per share, for the second quarter of 2026 — up from $245.4 million, or 76 cents per share, for last year's second quarter.
For the first six months of 2026, the company recorded net income of $1.1 billion, or $3.36 per share — up from $969.6 million, or $3.02 per share, in the corresponding period a year ago.
Consolidated revenues totaled $5.5 billion, up $337.3 million from the first half of 2025.
"Our focus on customer service, financial discipline and operating efficiency — while continuing to execute on our capital plan — helped deliver a strong quarter," said Scott Lauber, chairman, president and CEO.
Retail deliveries of electricity — excluding the iron ore mine in Michigan's Upper Peninsula and Very Large Customers (VLCs) in Wisconsin — were essentially flat in the second quarter of 2026, compared to the second quarter last year.
Electricity consumption by small commercial and industrial customers was 0.2 percent lower. Electricity use by large commercial and industrial customers — excluding the iron ore mine and VLCs — increased by 0.9 percent.
Residential electricity use decreased by 1.1 percent.
On a weather-normal basis, retail deliveries of electricity during the second quarter of this year — excluding the iron ore mine and VLCs — increased by 1.2 percent.
The company is reaffirming its 2026 earnings guidance of $5.51 to $5.61 per share. This assumes normal weather for the remainder of the year.
Earnings per share listed in this news release are on a fully diluted basis.
Conference call
A conference call is scheduled for 1 p.m. Central time, Wednesday, July 29. The call will review 2026 second-quarter earnings and the company's outlook for the future.
All interested parties, including stockholders, news media and the general public, are invited to listen. Access the call at 888-330-2443 up to 15 minutes before it begins. The number for international callers is 240-789-2728. The conference ID is 3088105.
Conference call access also is available at wecenergygroup.com. Under 'Webcasts,' select 'Q2 Earnings.' In conjunction with this earnings announcement, WEC Energy Group will post on its website a package of detailed financial information on its second-quarter performance. The materials will be available at 6:30 a.m. Central time, Wednesday, July 29.
Replay
A replay will be available on the website and by phone. Access to the webcast replay will be available on the website about two hours after the call. Access to a phone replay also will be available approximately two hours after the call and remain accessible through Aug. 12, 2026. Domestic callers should dial 800-770-2030. International callers should dial 647-362-9199. The replay conference ID is 3088105.
WEC Energy Group (NYSE: WEC), based in Milwaukee, is one of the nation's premier energy companies, serving 4.8 million customers in Wisconsin, Illinois, Michigan and Minnesota.
The company's principal utilities are We Energies, Wisconsin Public Service, Peoples Gas, North Shore Gas, Michigan Gas Utilities, Minnesota Energy Resources and Upper Michigan Energy Resources. Another major subsidiary, We Power, designs, builds and owns electric generating plants. In addition, WEC Infrastructure LLC owns a fleet of renewable generation facilities in states ranging from South Dakota to Texas.
WEC Energy Group (wecenergygroup.com) is a Fortune 500 company and a component of the S&P 500. The company has approximately 31,000 stockholders of record, 7,000 employees and more than $52 billion of assets.
Forward-looking statements
Certain statements contained in this press release are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based upon management's current expectations and are subject to risks and uncertainties that could cause our actual results to differ materially from those contemplated in the statements. Readers are cautioned not to place undue reliance on these statements. Forward-looking statements include, among other things, statements concerning management's expectations and projections regarding earnings, earnings growth rates, dividend payments and future results. In some cases, forward-looking statements may be identified by reference to a future period or periods or by the use of forward-looking terminology such as "anticipates," "believes," "estimates," "expects," "forecasts," "guidance," "intends," "may," "objectives," "plans," "possible," "potential," "projects," "should," "targets," "will" or similar terms or variations of these terms.
Factors that could cause actual results to differ materially from those contemplated in any forward-looking statements include, but are not limited to: general economic conditions, including business and competitive conditions in the company's service territories; timing, resolution and impact of rate cases and other regulatory decisions, including rider reconciliations; the company's ability to continue to successfully integrate the operations of its subsidiaries; availability of the company's generating facilities and/or distribution systems; unanticipated changes in fuel and purchased power costs; key personnel changes; unusual, varying or severe weather conditions; continued industry restructuring and consolidation; continued advances in, and adoption of, new technologies that produce power or reduce power consumption; energy and environmental conservation efforts; electrification initiatives, mandates and other efforts to reduce the use of natural gas; the company's ability to successfully acquire and/or dispose of assets and projects and to execute on its capital plan, including projects related to serving data centers and other large-scale customers; terrorist, physical or cyber-security threats or attacks and data security breaches; construction risks; labor disruptions; equity and bond market fluctuations; changes in the company's and its subsidiaries' ability to access the capital markets; changes in tax legislation or our ability to use certain tax benefits and carryforwards; changes in and uncertainty around federal, state, and local legislation and regulation, including changes in rate-setting policies or procedures and environmental standards, in the enforcement of these laws and regulations and in the interpretation of regulations or permit conditions by regulatory agencies; supply chain disruptions; inflation; political or geopolitical developments impacting the global economy, supply chain and fuel prices generally, including as a result of changes to government trade policies, geopolitical tensions between the U.S. and other countries, such as the war with Iran, or other new, protracted or escalating regional or international conflicts; the impact from any health crises, including epidemics and pandemics; current and future litigation and regulatory investigations, proceedings or inquiries; the ability of the Company to successfully and/or timely adopt new technologies, including artificial intelligence; changes in accounting standards; the financial performance of the American Transmission Company as well as projects in which the company's energy infrastructure business invests; the ability of the company to obtain additional generating capacity at competitive prices; goodwill and its possible impairment; and other factors described under the heading "Factors Affecting Results, Liquidity and Capital Resources" in Management's Discussion and Analysis of Financial Condition and Results of Operations and under the headings "Cautionary Statement Regarding Forward-Looking Information" and "Risk Factors" contained in the company's Form 10-K for the year ended Dec. 31, 2025, and in subsequent reports filed with the Securities and Exchange Commission. Except as may be required by law, the company expressly disclaims any obligation to publicly update or revise any forward-looking information.
Tables follow
WEC ENERGY GROUP, INC.
CONDENSED CONSOLIDATED INCOME STATEMENTS
(Unaudited)
Three Months Ended
Six Months Ended
June 30
June 30
(in millions, except per share amounts)
2026
2025
2026
2025
Operating revenues
$ 2,062.1
$ 2,009.5
$ 5,496.3
$ 5,159.0
Operating expenses
Cost of sales
555.6
570.5
1,946.6
1,736.2
Other operation and maintenance
617.1
596.2
1,225.8
1,204.2
Depreciation and amortization
384.9
368.9
764.7
728.8
Property and revenue taxes
71.7
69.0
146.4
147.4
Total operating expenses
1,629.3
1,604.6
4,083.5
3,816.6
Operating income
432.8
404.9
1,412.8
1,342.4
Equity in earnings of transmission affiliates
62.6
51.9
122.1
105.5
Other income, net
61.5
26.5
109.7
44.6
Interest expense
228.9
220.8
457.4
443.8
Other expense
(104.8)
(142.4)
(225.6)
(293.7)
Income before income taxes
328.0
262.5
1,187.2
1,048.7
Income tax expense
27.0
19.5
80.1
80.2
Net income
301.0
243.0
1,107.1
968.5
Preferred stock dividends of subsidiary
0.3
0.3
0.6
0.6
Net (income) loss attributed to noncontrolling interests
(1.5)
2.7
(2.9)
1.7
Net income attributed to common shareholders
$ 299.2
$ 245.4
$ 1,103.6
$ 969.6
Earnings per share
Basic
$ 0.92
$ 0.77
$ 3.39
$ 3.04
Diluted
$ 0.91
$ 0.76
$ 3.36
$ 3.02
Weighted average common shares outstanding
Basic
325.8
320.3
325.7
319.3
Diluted
328.9
322.2
328.6
320.7
Dividends per share of common stock
$ 0.9525
$ 0.8925
$ 1.9050
$ 1.7850
WEC ENERGY GROUP, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)
(in millions, except share and per share amounts)
June 30, 2026
December 31, 2025
Assets
Current assets
Cash and cash equivalents
$ 50.0
$ 27.6
Accounts receivable and unbilled revenues, net of reserves of $148.9 and $148.7, respectively
1,529.2
2,062.7
Materials, supplies, and inventories
744.6
803.4
Prepaid taxes
203.2
178.8
Other prepayments
57.8
92.4
Other
197.0
119.8
Current assets
2,781.8
3,284.7
Long-term assets
Property, plant, and equipment, net of accumulated depreciation and amortization of $12,783.3 and
$12,411.5, respectively
39,827.6
38,278.1
Regulatory assets (June 30, 2026 and December 31, 2025 include $63.6 and $67.5, respectively,
related to WEPCo Environmental Trust Finance I, LLC)
3,130.4
3,156.3
Equity investment in transmission affiliates
2,420.7
2,280.4
Goodwill
3,052.8
3,052.8
Pension and OPEB assets
1,115.6
1,082.4
Other
421.5
383.6
Long-term assets
49,968.6
48,233.6
Total assets
$ 52,750.4
$ 51,518.3
Liabilities and Equity
Current liabilities
Short-term debt
$ 1,934.1
$ 1,924.7
Current portion of long-term debt (June 30, 2026 and December 31, 2025 include $9.4 and $9.3,
respectively, related to WEPCo Environmental Trust Finance I, LLC)
1,413.5
1,519.4
Accounts payable
1,018.6
1,140.1
Other
842.2
1,009.2
Current liabilities
5,208.4
5,593.4
Long-term liabilities
Long-term debt (June 30, 2026 and December 31, 2025 include $62.8 and $67.4, respectively,
related to WEPCo Environmental Trust Finance I, LLC)
19,216.3
18,498.1
Finance lease obligations
415.8
372.0
Deferred income taxes
6,165.3
5,891.7
Deferred revenue, net
305.0
314.2
Regulatory liabilities
4,229.6
4,121.3
Intangible liabilities
550.3
580.3
Environmental remediation liabilities
466.2
484.1
Asset retirement obligations
668.6
647.0
Other
951.9
963.4
Long-term liabilities
32,969.0
31,872.1
Commitments and contingencies
Common shareholders' equity
Common stock – $0.01 par value; 650,000,000 shares authorized; 325,849,383 and 325,461,519
shares outstanding, respectively
3.3
3.3
Additional paid in capital
5,162.3
5,124.4
Retained earnings
8,976.8
8,493.5
Accumulated other comprehensive loss
(7.5)
(7.6)
Common shareholders' equity
14,134.9
13,613.6
Preferred stock of subsidiary
30.4
30.4
Noncontrolling interests
407.7
408.8
Total liabilities and equity
$ 52,750.4
$ 51,518.3
WEC ENERGY GROUP, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)
Six Months Ended
June 30
(in millions)
2026
2025
Operating activities
Net income
$ 1,107.1
$ 968.5
Reconciliation to cash provided by operating activities
Depreciation and amortization
764.7
728.8
Deferred income taxes and ITCs, net
189.9
220.0
AFUDC-Equity
(94.8)
(38.6)
Contributions and payments related to pension and OPEB plans
(7.2)
(7.1)
Equity income in transmission affiliates, net of distributions
(27.8)
(3.4)
Change in –
Accounts receivable and unbilled revenues, net
479.5
136.4
Materials, supplies, and inventories
58.8
110.2
Other current assets
(39.5)
65.4
Accounts payable
(102.1)
(172.1)
Other current liabilities
(104.2)
(44.8)
Other, net
(13.7)
52.6
Net cash provided by operating activities
2,210.7
2,015.9
Investing activities
Capital expenditures
(2,079.9)
(1,530.5)
Acquisition of Hardin Solar Energy III Center, net of cash acquired of $ – and $0.2, respectively
(3.0)
(406.1)
Capital contributions to transmission affiliates
(112.4)
(87.8)
Proceeds from the sale of assets
21.7
0.7
Reimbursement for American Transmission Company LLC's transmission infrastructure upgrades
10.4
39.7
Other, net
(37.3)
11.2
Net cash used in investing activities
(2,200.5)
(1,972.8)
Financing activities
Exercise of stock options
9.1
24.7
Issuance of common stock, net
23.8
398.8
Dividends paid on common stock
(620.3)
(568.7)
Issuance of long-term debt
1,804.2
1,025.0
Retirement of long-term debt
(1,189.1)
(567.6)
Change in commercial paper
8.0
(308.0)
Other, net
(20.9)
(20.3)
Net cash provided by (used in) financing activities
14.8
(16.1)
Net change in cash, cash equivalents, and restricted cash
25.0
27.0
Cash, cash equivalents, and restricted cash at beginning of period
70.9
42.2
Cash, cash equivalents, and restricted cash at end of period
Autor preferuje WEC Energy Group před Dominionem, protože přísnější tarifní sazba ve Wisconsinu má podpořit růst zisků díky datovým centrům. WEC plánuje investice ve výši 37,5 mld. USD a čeká zrychlení růstu zisku na 8 % ročně.
Asia-Pacific Images Studio/iStock via Getty Images
Utilities have become an exciting sector as both market prices and fundamentals are changing rapidly. We monitor the relative opportunity of the major electric utilities as factors change and have come to believe that WEC Energy Group (WEC) has become more opportunistic than Dominion (D).
This article will discuss why we are trimming D in favor of WEC. We shall begin with a discussion of Dominion as it has played out and follow with a renewed thesis on WEC.
Dominion—Still Strong but Valuation is Less Appealing Due to Appreciation We have liked Dominion since our initial thesis that it would have powerful demand drivers through its access to northern Virginia, which is the epicenter of data center development. Aside from some minor delays and cost overruns on CVOW, fundamentals have played out beautifully.
Dominion has successfully grown earnings and still has an impressively large growth pipeline. Dominion has had 2 main challenges, which previously caused it to trade at a discount to most electric utilities:
Higher leverage at 60% debt to capital High capital needs to fund the load growth In May of 2026, it was announced that NextEra Energy (NEE) was going to buy Dominion and form the largest electric utility ever.
We liked the merger right away as it directly solves both of Dominion's challenges. NEE has access to vast amounts of low-cost capital, which means the combined company will be able to very accretively fund Dominion's growth pipeline. As the merger was announced, the market was hesitant to believe it would go through, which left a large arbitrage gap that we discussed in the above-linked article.
Specifically, Dominion was trading at $68.32 (at the time of writing the above-linked article), while the value of NEE shares, into which it would convert upon merger completion, was $73.36. Furthermore, D was due just over $4.00 in dividends while waiting for closing, such that the overall upside was 13.25%.
Portfolio Income Solutions
Over time, the arbitrage gap began to close as the market got more comfortable with the deal. On July 16th, D and NEE filed with regulators to approve the merger, which solidified that both parties are interested and pursuing a path to closing.
That largely closed the arbitrage gap. As of 7/21/26, D is trading at $70.15 with the converted value in NEE shares worth $71.49.
Portfolio Income Solutions
With about 5 dividend periods until expected close date, D shareholders would get total proceeds of $74.83 for total remaining merger upside of 6.67%. Given the roughly 1.25 years until expected close, this seems about right, and I would consider the arbitrage to be essentially played out.
There remains some chance the merger will get shot down by regulators, so it is not risk-free, but I consider it fairly low risk for 2 reasons:
Both companies are stable and successful as stand-alone There is a hefty breakup fee that NEE would have to pay Dominion that would substantially pad any downside from a failed merger. Given the rise in Dominion's price, it is no longer trading at a material discount to peer electric utilities.
2nd Market Capital
Dominion is trading at 12.14X 2027 EBITDA compared to 11.96X for the sector. Its PE multiple is fractionally lower than peers, making its overall valuation essentially right in the middle.
We still prefer the Dominion leg over the NEE leg. The combined company looks to be an entirely reasonable investment with good growth in both Virginia and Florida. However, the less attractive valuation after the run-up encourages us to look elsewhere in the sector.
The WEC Buy Thesis I think the market has misinterpreted the strict VLC Tariff (very large customer) tariff passed by the Public Service Commission of Wisconsin as a negative. In a more balanced demand environment, the terms could be demand destructive for data center development, but presently time-to-market is the key desideratum of where to develop, and the structure of the tariff actually improves time-to-market.
The result is that WEC gets development terms that are highly favorable to the utility while experiencing a quantity of demand that will materially expand their earnings power over time.
Let us begin with a discussion of the VLC Tariff and move on to show how it is facilitating a massive load expansion for WEC.
The VLC Tariff WEC proposed a VLC Tariff along with a Bespoke Resources Tariff for large customers in March, which was meant to do 2 things:
Protect ordinary customers from having to foot the bill for data center development Create a framework of guaranteed payment such that WEC would not be left without a revenue source if the large customer were to back out. In their proposal, WEC called for it to apply to customers over 500MW and wanted to establish a minimum 10-year term so as to make sure they got paid back for development expenses.
The Public Service Commission of Wisconsin reviewed the proposal and made it substantially more aggressive before passing it on April 24th, 2026.
Yale Clean Energy Forum discusses the VLC Tariff in greater detail.
The PSC's version upped the terms to include:
Financial guarantees for VLCs below A- credit rating 100 MW or bigger rather than 500MW or bigger Generation and transmission costs are 100% of VLC customer-funded. 15-year minimum term Early exit fee for full reimbursement of costs One may note that each of these terms is “against” the data center in the sense that it locks them in and forces them to pay a larger share of the bill aimed to ensure they pay at least 100% of the costs.
This makes the terms of any data center development quite favorable to WEC because they will get a very high ROE on data center development, and that return is backed by a long contract with a high credit tenant or a capital reserve set aside.
While these terms are favorable for WEC, they could be viewed as demand destructive. If the terms are too aggressive against data centers, they may choose to locate elsewhere, potentially causing WEC to lose some of what would have been load growth.
The market seems to have interpreted the Public Service Commission's version as demand destructive, as WEC has materially underperformed its peers.
SA
Note on the chart above how WEC has basically flatlined since it submitted its VLC proposal in March.
I think the market's interpretation is wrong and that the VLC Tariff is bullish for WEC.
Why the VLC Tariff Matters and How It Impacts WEC Earnings There are always going to be tradeoffs in regulation, and this is among the more ironclad in terms of making sure the data centers pay for the development.
We see the VLC Tariff having 3 main effects:
Data center developers are slightly disincentivized economically to build in this jurisdiction. Regulators will be faster and more willing to accommodate the development of data centers given the protection to residential customers. Data center developers currently care more about speed to market rather than cost to build. Thus, while demand remains high and speed to market is the key issue, the tariffs may actually stimulate activity.
Data center development is being aggressively fought at both a state and local level, such as the data center moratorium in New York. This red tape exacerbates what is already a slow process of building new power generation.
We believe the clear framework set forth in the Wisconsin VLC Tariff and the safeguards for residential customers go a long way to reducing that red tape. To the extent it can guarantee the data centers pay for the power and transmission, data center development is an economic and employment boon for the state and local areas. It makes it much easier to greenlight projects and thereby reduces time-to-delivery.
Faster development is a big deal for the hyperscalers who want to win the AI race, and I believe that is why so many data centers are popping up in Wisconsin.
Microsoft is building an enormous data center at Mount Pleasant
WEC
Vantage is building a data center for OpenAI and Oracle in Port Washington, where WEC already generates substantial power.
WEC
Beyond data centers, Wisconsin has strong manufacturing growth, as discussed by Scott Lauber, WEC's CEO, on the 1Q26 earnings call:
“There's other notable growth in the state. As a recent example, Milwaukee Tool has announced plans to further expand its campus in our territory, including a new research and development facility. Waukesha Engine also announced plans to expand upon its local operation and employee base. In addition, we're starting to see good housing development. In fact, realtor.com recognized Racine County, home of the Microsoft site, as one of the nation's hottest housing markets. We're committed to meeting the growing demand across our service areas as we invest in our system for increased capacity and reliability.”
These large-scale projects are fueling WEC's load growth and the earnings growth that comes along with it. In total, WEC plans to outlay $37.5B over the next 5 years.
WEC
Since utilities have regulated ROE and a higher ROE attached to data centers subject to the VLC Tariff, deployed capital translates directly to earnings per share growth. As these projects come online, WEC anticipates earnings growth accelerating to 8% annually.
WEC
WEC can fund this development at a reasonably low cost of capital. In June they issued $400 million of 5-year notes at 4.65% and $400 million of 10-year notes at 5.10%. This low spread over Treasuries is a testament to their strong balance sheet and operating track record.
High Total Return Potential Relative to Risk With earnings growth accelerating to 8% annually and a 3.4% dividend yield, WEC is positioned to deliver an annual total return of 11.4% if one were to assume the multiple at which it trades remains flat.
That is a high return for a large-cap electric utility, which is generally considered to be below average risk for an equity. I would consider the outsized return relative to risk to represent mispricing and suggest that WEC will appreciate until such a price that it is generating a more normal forward expected return for its risk level.
Primary Risk to WEC If demand for data centers were to drop off substantially, the aggressive terms of the VLC Tariff could indeed become demand destructive. We will be watching hyperscaler capex closely as their earnings reports roll out. High capex is good for utilities broadly and especially WEC.
WEC Energy Group čeká za čtvrtletí EPS 0,81 USD, meziročně o 6,6 % více, při tržbách 2,07 miliardy USD. Analytici ale za posledních 30 dní snížili odhad EPS o 5,26 %.
The market expects WEC Energy Group (WEC - Free Report) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2026. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.
The earnings report, which is expected to be released on July 29, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.
While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.
Zacks Consensus EstimateThis electricity and natural gas provider is expected to post quarterly earnings of $0.81 per share in its upcoming report, which represents a year-over-year change of +6.6%.
Revenues are expected to be $2.07 billion, up 3.1% from the year-ago quarter.
Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 5.26% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.
Price, Consensus and EPS Surprise
Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for WEC Energy?For WEC Energy, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -0.83%.
On the other hand, the stock currently carries a Zacks Rank of #4.
So, this combination makes it difficult to conclusively predict that WEC Energy will beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that WEC Energy would post earnings of $2.33 per share when it actually produced earnings of $2.45, delivering a surprise of +5.15%.
Over the last four quarters, the company has beaten consensus EPS estimates four times.
Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
WEC Energy doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
Expected Results of an Industry PlayerDTE Energy (DTE - Free Report) , another stock in the Zacks Utility - Electric Power industry, is expected to report earnings per share of $1.14 for the quarter ended June 2026. This estimate points to a year-over-year change of -16.2%. Revenues for the quarter are expected to be $3.51 billion, up 2.7% from the year-ago quarter.
Over the last 30 days, the consensus EPS estimate for DTE Energy has been revised 4.7% up to the current level. Nevertheless, the company now has an Earnings ESP of 0.00%, reflecting an equal Most Accurate Estimate.
This Earnings ESP, combined with its Zacks Rank #3 (Hold), makes it difficult to conclusively predict that DTE Energy will beat the consensus EPS estimate. Over the last four quarters, the company surpassed consensus EPS estimates two times.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
, /PRNewswire/ -- The board of directors of WEC Energy Group (NYSE: WEC) today declared a quarterly cash dividend of 95.25 cents per share on the company's common stock.
The dividend is payable Sept. 1, 2026, to stockholders of record on Aug. 14, 2026. This marks the 336th consecutive quarter — dating back to 1942 — that the company will have paid a dividend to its stockholders.
WEC Energy Group (NYSE: WEC), based in Milwaukee, is one of the nation's premier energy companies, serving 4.8 million customers in Wisconsin, Illinois, Michigan and Minnesota.
The company's principal utilities are We Energies, Wisconsin Public Service, Peoples Gas, North Shore Gas, Michigan Gas Utilities, Minnesota Energy Resources and Upper Michigan Energy Resources. Another major subsidiary, We Power, designs, builds and owns electric generating plants. In addition, WEC Infrastructure LLC owns a fleet of renewable generation facilities in states ranging from South Dakota to Texas.
WEC Energy Group (wecenergygroup.com) is a Fortune 500 company and a component of the S&P 500. The company has approximately 31,000 stockholders of record, 7,000 employees and more than $52 billion of assets.
