WEC Energy Group
Operator of regulated electric and gas utilities across four Midwestern states.
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Profile
Generates and distributes electricity and delivers natural gas through regulated utilities in Wisconsin, Illinois, Michigan and Minnesota, with Wisconsin operations at the core. Earnings also include a majority-owned electric transmission company, leased generation, renewable projects and natural gas storage; regulators set rates and determine recovery on utility investment.
Generates and distributes electricity and delivers natural gas through regulated utilities across Wisconsin, Illinois, Michigan and Minnesota. We Energies and Wisconsin Public Service anchor the Wisconsin operations; Peoples Gas and North Shore Gas serve Illinois, while Michigan Gas Utilities, Minnesota Energy Resources and Upper Michigan Energy Resources cover smaller territories in Michigan and Minnesota.
Builds and maintains generation, electric distribution and gas networks, pairing utility capital programs with a majority interest in American Transmission Co. We Power owns generation leased to We Energies, while WEC Infrastructure holds renewable projects and Bluewater owns Michigan gas storage.
Most earnings come from regulated utility operations. State commissions set customer rates and determine recovery and returns on utility investment, while federal and state regulators oversee transmission and other operations.
Company facts
Categories
Key statistics
Year to date −0.2% · Average volume (30d) 2.3M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 13, 2026 | Truist Financial | Target | $119 | $114 | |
| Jul 22, 2026 | BMO Capital | Reiterate | Market Perform | $121 | $117 |
| May 18, 2026 | Truist Financial | Target | $124 | $119 | |
| May 6, 2026 | Mizuho Securities | Target | $121 | $124 | |
| Apr 21, 2026 | Wells Fargo | Target | $117 | $127 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 29, 2026Q2 FY26 | $0.80 | $0.91 | +13.2% | $2.11B | $2.06B | −2.1% | −1.11% |
| May 5, 2026Q1 FY26 | $2.30 | $2.45 | +6.5% | $3.32B | $3.43B | +3.4% | −1.11% |
| Feb 5, 2026Q4 FY25 | $1.39 | $1.42 | +2.2% | $2.14B | $2.54B | +18.3% | −0.46% |
| Oct 30, 2025Q3 FY25 | $0.81 | $0.83 | +2.5% | $1.89B | $2.10B | +11.1% | −0.77% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $3.15B | $2.01B | $2.10B | $2.54B | $3.43B | $2.06B | |
| Gross profit | $1.38B | $842.8M | $1.50B | $1.24B | $2.04B | $1.51B | |
| Operating income | $937.5M | $404.9M | $449.6M | $582.9M | $980.0M | $432.8M | |
| Net income | $724.5M | $245.7M | $271.3M | $316.9M | $804.7M | $299.5M | |
| Diluted EPS | $2.27 | $0.76 | $0.83 | $0.97 | $2.45 | $0.91 | |
| Gross margin | 43.7% | 41.9% | 71.1% | 48.8% | 59.5% | 73.1% | |
| Operating margin | 29.8% | 20.1% | 21.4% | 23.0% | 28.5% | 21.0% |
Fiscal years (4-quarter sums)FY21 $8.32B · FY22 $9.60B · FY23 $8.89B · FY24 $8.60B · FY25 $9.80B
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $50.0M · Total debt $22.98B · Total assets $52.75B · Shareholders' equity $14.13B
Dividends
Raised for 24 straight years — most recently to $0.9525 from $0.8925 in Feb 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 14, 2026 | Aug 14 | Sep 1 | $0.9525 | |
| May 14, 2026 | May 14 | Jun 1 | $0.9525 | |
| Feb 13, 2026 | Feb 13 | Mar 1 | $0.9525 | raised from $0.8925 |
| Nov 14, 2025 | Nov 14 | Dec 1 | $0.8925 | |
| Aug 14, 2025 | Aug 14 | Sep 1 | $0.8925 | |
| May 14, 2025 | May 14 | Jun 1 | $0.8925 | |
| Feb 14, 2025 | Feb 14 | Mar 1 | $0.8925 | raised from $0.835 |
| Nov 14, 2024 | Nov 14 | Dec 1 | $0.835 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 325.73M · Float 324.94M · 99.8% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 33.32M | 10.23% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 21.26M | 6.53% | 13F | Aug 13, 2026 |
| State Street Corp | 21.09M | 6.48% | 13F | Aug 7, 2026 |
| Vanguard Portfolio Management LLC | 16.88M | 5.18% | 13F | Aug 13, 2026 |
| Geode Capital Management, LLC | 9.24M | 2.84% | 13F | Aug 12, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 11, 2026 | Ulice Jr Payne | director | −980 | $105.58 |
| May 19, 2026 | Daniel Krueger | officer: EVP WEC Infrastructure | −4,665 | $110.96 |
| Feb 24, 2026 | Ulice Jr Payne | director | −1,450 | $114.60 |
| Feb 23, 2026 | Gale E. Klappa | director | −3,180 | $115.44 |
| Feb 13, 2026 | Mary Beth Straka | officer: Sr. VP-Corp Comm & Inv Rel | −2,815 | $115.50 |
Peers
- Alliant Energy
Wisconsin electric peer; Columbia Energy Center co-owner; 3 GW data-center ESAs.
- Xcel Energy
Wisconsin electric presence; 6 GW data-center target by 2027; $60B capex plan.
- DTE Energy
Michigan's largest utility; Oracle 1.4 GW deal; $30B capex for hyperscale.
- CMS Energy
Michigan duopoly partner; 9 GW data-center pipeline; WEC's Michigan gas peer.
- Ameren
Illinois gas and electric peer; adjacent to Peoples Gas Chicago territory.
- NiSource
Adjacent Midwest gas franchises; closest WEC gas-distribution financial peer.
- Evergy
Kansas/Missouri electric peer; 15+ GW data-center pipeline; MISO competitor.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| WEC Energy Group | $106.22 | +0.01% | $34.60B | 20.6 | 19.9 | 3.4 | +2.6% |
| Alliant Energy | $68.03 | +0.01% | $17.57B | 21.5 | 19.4 | 4.0 | +1.0% |
| Xcel Energy | $76.26 | −0.25% | $47.75B | 20.8 | 18.0 | 3.3 | −5.1% |
| DTE Energy | $135.86 | +0.03% | $28.27B | 21.3 | 16.6 | 1.7 | −1.5% |
| CMS Energy | $68.78 | +0.84% | $21.39B | 20.2 | 16.4 | 2.4 | −0.5% |
| Ameren | $105.85 | −0.25% | $29.37B | 18.7 | 19.3 | 3.4 | −5.8% |
| NiSource | $42.21 | +4.07% | $19.45B | 21.6 | 18.6 | 2.8 | +4.6% |
| Evergy | $80.30 | −0.43% | $18.59B | 20.4 | 18.0 | 3.1 | +4.4% |
| Median | 20.8 | 18.0 | 3.1 | −0.5% |