WEC ENERGY GROUP (WEC) Company Report

Confirmed 2025 EPS guidance of $5.17–$5.27 and forecasts 7–8% long-term EPS growth, driven by regulatory and infrastructure investments.
Board plans to raise the quarterly dividend to 95.25 cents (annual $3.81), marking the 23rd consecutive year of increases and targeting a 65–70% payout ratio.
Approved a $36.5 billion 2026–2030 capital plan, a $8.5 billion increase over the prior plan, allocating funds to gas generation, regulated renewables, transmission and pipe retirement.
Financing strategy includes $20.5–$21.5 billion of operating cash flow, $4.8–$5.2 billion of equity and $13.7–$14.3 billion of debt, while maintaining investment-grade credit ratings (S&P A-/Moody’s Baa1).

1 minute ago

8-K

WEC Energy Group plans 6.7% dividend increase

WEC

Dividends

Guidance Update

The board will raise the quarterly dividend to $0.9525 per share in Q1 2026, a 6.7% increase over the prior rate.
The new dividend equates to an annual rate of $3.81 per share, payable March 1, 2026, to holders of record on February 13, 2026.
WEC Energy Group issued 2026 earnings guidance of $5.51–$5.61 per share, aligning with its short-term EPS growth targets.
The board continues to target a 65–70% dividend payout ratio and a 6.5–7% compound annual dividend growth rate.

23 hours ago

Press Release

WEC Energy Group provides long-term EPS and dividend growth outlook

WEC

Guidance Update

Dividends

New Projects/Investments

2025 guidance of $5.17–$5.27 adjusted EPS and a 6.9% dividend increase to $3.57 per share, marking the 22nd consecutive annual raise and targeting a 65–70% payout ratio.
7.0–8.0% EPS CAGR through 2030 backed by a $36.5 billion 2026–2030 capital plan focused entirely on regulated businesses to drive growth.
Robust demand growth with Wisconsin electric sales projected at 6–7% (weather-normalized, 2028–2030) and major AI data center investments by Microsoft ($7 billion+) and Vantage ($15 billion+) supporting load additions.
Maintains investment-grade credit (S&P A-/Moody’s Baa1), targets FFO/debt >15% and CFO Pre-WC/debt >16%, with a financing plan comprising $20.5–21.5 billion cash from operations, $4.8–5.2 billion equity and $13.7–14.3 billion incremental debt over 2026–2030.

Nov 7, 2025, 9:16 PM

8-K

WEC Energy Group to issue $600 million junior subordinated notes due 2056

WEC

Debt Issuance

On November 3, 2025, WEC Energy Group entered into an underwriting agreement to issue $600 million aggregate principal amount of 5.625% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due May 15, 2056.
The notes will bear a 5.625% initial coupon rate from November 6, 2025, to May 15, 2031, then reset every five years at the Five-Year Treasury Rate plus 1.905%.
The offering is led by Barclays Capital, BofA Securities, Citigroup, Morgan Stanley, U.S. Bancorp Investments and Wells Fargo Securities, with net proceeds of $594 million to the issuer before expenses.

Nov 6, 2025, 1:58 PM

8-K

WEC Energy Group enters $3 billion equity distribution agreement

WEC

On October 31, 2025, WEC Energy Group entered into an Equity Distribution Agreement with a syndicate of sales agents and forward purchasers to offer and sell up to $3.0 billion of its $0.01 par value common stock from time to time.
Sales agents may act as agents or purchase shares as principals, and the Company may hedge share issuances through forward sale agreements with designated forward purchasers.
The Agreement contemplates both Initially Priced Forward Sale Agreements and Collared Forward Sale Agreements, featuring forward price adjustments based on a floating interest rate factor and expected quarterly dividends.
The Equity Distribution Agreement remains in effect until the earliest of full sale of the $3.0 billion, termination by either party, or October 31, 2028, with customary surviving covenants.

Oct 31, 2025, 9:08 PM

8-K

WEC Energy Group reports Q3 2025 earnings and updates five-year capital plan

WEC

Earnings

Guidance Update

New Projects/Investments

WEC Energy Group reported Q3 2025 EPS of $0.83, up $0.01 year-over-year, and reaffirmed 2025 EPS guidance at $5.17–$5.27 assuming normal weather.
Announced a $36.5 billion capital investment plan for 2026–2030, an increase of $8.5 billion over the prior plan, supporting 11% annual asset-base growth and 7–8% EPS CAGR through 2030.
Projects electric demand growth of 3.4 GW by 2030, led by Microsoft’s Mount Pleasant data center and Vantage Data Centers’ Port Washington campus (1.3 GW over five years).
Financing to be 50% equity: expects $21 billion cash from operations, $14 billion incremental debt and $5 billion common equity issuances, with $0.9–1.1 billion equity planned in 2026.

Oct 30, 2025, 6:00 PM

Transcript

WEC Energy Group reports Q3 2025 results

WEC

Earnings

Guidance Update

New Projects/Investments

WEC delivered $0.83 EPS in Q3 2025 and reaffirmed full-year guidance of $5.17–$5.27 per share assuming normal weather.
The company unveiled a five-year capital plan to invest $36.5 billion from 2026–2030—up $8.5 billion (>30% vs. prior plan)—driving average asset-base growth of 11.3% per year.
Long-term projected EPS compound annual growth of 7–8% from 2026–2030 (up from 6.5–7% near-term), with acceleration to the upper end starting in 2028.
Incremental infrastructure investments include $3.4 billion in natural gas generation, $2.5 billion in renewables/battery storage, $4.1 billion in transmission (ATC), and $2 billion in distribution across Wisconsin and Illinois.
To fund the plan (50% equity content), WEC expects $21 billion from operations, $14 billion debt, and $5 billion common equity issuances over five years.

Oct 30, 2025, 6:00 PM

Transcript

WEC Energy Group reports Q3 2025 results

WEC

Earnings

Guidance Update

WEC Energy Group posted net income of $271.3 million, or $0.83 diluted EPS, for Q3 2025, up from $240.1 million, or $0.76 per share a year ago.
Operating revenues increased to $2.104 billion from $1.863 billion in Q3 2024.
Retail electricity deliveries (excluding Michigan iron ore mine) rose 1.9% year-over-year (1.8% on a weather-normalized basis) in the quarter.
The company reaffirmed its 2025 earnings guidance of $5.17 to $5.27 per share, assuming normal weather.

Oct 30, 2025, 11:26 AM

8-K

WEC Energy Group reports third-quarter 2025 results

WEC

Earnings

Guidance Update

WEC Energy Group reported Q3 net income of $271.3 million, or $0.83 per diluted share, up from $240.1 million, or $0.76 per share in Q3 2024.
For the nine months ended Sept. 30, 2025, net income was $1.239 billion, or $3.85 per share, compared to $1.071 billion, or $3.40 per share last year.
Retail electricity deliveries (excluding Michigan iron ore mine) grew 1.9% year-over-year in Q3 2025.
The company reaffirmed its 2025 EPS guidance of $5.17–$5.27 per share, assuming normal weather for the remainder of the year.

Oct 30, 2025, 11:00 AM

Press Release

WEC Energy Group provides September 2025 investor update

WEC

Guidance Update

New Projects/Investments

Dividends

WEC Energy Group reiterates 2025 EPS guidance of $5.17–$5.27 per share and announced a 6.9% dividend increase to $3.57 per share, marking decades of consistent earnings and dividend growth.
The company unveiled a $28.0 billion 2025–2029 capital plan—with over 98% allocated to regulated businesses—including $9.1 billion in renewables (4,365 MW) and $3.2 billion for ATC transmission.
Targets elimination of coal-fired generation by end of 2032 (coal only as backup by 2030) and plans to quadruple carbon-free generation to ~4,300 MW by 2029.
Filed a Wisconsin Very Large Customer tariff for customers with ≥500 MW load, featuring a 10.48% ROE and 57% equity ratio, pending PSCW approval by May 1, 2026.
Financing to be funded 60% by cash from operations, 31% by incremental debt, and 9% by equity, while maintaining S&P A-/Moody’s Baa1 ratings with target FFO/Debt >15%.

Sep 2, 2025, 8:15 PM

8-K

Earnings Transcripts

Quarterly earnings call transcripts for WEC ENERGY GROUP.

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