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WEC Energy Group
(NYSE:WEC)
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Rating:66Neutral
Price Target:
$123.00
â–²(6.25% Upside)
Action:Reiterated
Date:07/29/26
WEC scores well on earnings stability and a constructive, reaffirmed growth outlook from the latest earnings call, but the overall score is held back by cash-flow quality (frequently negative free cash flow) and structurally elevated leverage. Valuation is fair-to-full for a utility (P/E ~22.5) with support from a ~3.25% dividend yield, while technicals appear neutral with limited momentum visibility due to missing indicators.
Positive Factors
Stable regulated earnings
WEC’s core regulated utility model produces steady margins and predictable cash flow because rates recover prudently incurred costs plus an allowed return on invested capital. That regulatory revenue framework and ~11–12% ROE history support durable earnings stability over the next 2–6 months.
Negative Factors
Elevated leverage & negative free cash flow
Sustained heavy capital spending has kept free cash flow frequently negative, increasing reliance on external financing. Coupled with multi-year elevated leverage, this constrains financial flexibility, raises funding costs risk during rate/timing variability, and may pressure balance-sheet resilience.
Read all positive and negative factors
Positive Factors
Negative Factors
Stable regulated earnings
WEC’s core regulated utility model produces steady margins and predictable cash flow because rates recover prudently incurred costs plus an allowed return on invested capital. That regulatory revenue framework and ~11–12% ROE history support durable earnings stability over the next 2–6 months.
Read all positive factors
WEC Energy Group Key Performance Indicators (KPIs)
Any
Net Income by Segment
Shows the profitability of each business segment, highlighting which areas are driving earnings and which may need strategic adjustments.
Shows the profitability of each business segment, highlighting which areas are driving earnings and which may need strategic adjustments.
Data provided by:
The Fly
The FlyWEC Energy Group (WEC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$36.25B
Dividend Yield3.35%
Average Volume (3M)2.01M
Price to Earnings (P/E)22.5
Beta (1Y)0.04
Revenue Growth8.93%
EPS Growth-0.59%
CountryUS
Employees7,000
SectorUtilities
Sector Strength65
IndustryRegulated Electric
Share Statistics
EPS (TTM)5.20
Shares Outstanding325,725,680
10 Day Avg. Volume1,767,354
30 Day Avg. Volume2,006,977
Financial Highlights & Ratios
PEG Ratio20.88
Price to Book (P/B)2.52
Price to Sales (P/S)3.50
P/FCF Ratio-33.69
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$124.00Price Target Upside7.11% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering11
EPS Forecast (FY)5.6
Revenue Forecast (FY)$10.14B
WEC Energy Group Business Overview & Revenue Model
Company Description
WEC Energy Group, Inc. is a major energy provider operating across the United States, delivering regulated natural gas and electricity, as well as both regulated and non-regulated renewable energy services. The company's operations are divided int...
How the Company Makes Money
WEC primarily makes money through its regulated utility businesses by delivering electricity and natural gas to residential, commercial, and industrial customers at rates approved by public utility regulators. The largest revenue streams come from...
WEC Energy Group Earnings Call Summary
Earnings Call Date:Jul 29, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 03, 2026
Earnings Call Sentiment Positive
The call communicated a predominantly positive outlook: solid Q2 earnings growth, reaffirmed full-year guidance, robust multi‑year capital plan driven by strong regional economic development and large data center demand, successful financing execution, regulatory progress (VLC tariff and Illinois settlements) and ongoing dividend growth. Notable near-term headwinds include weather-related earnings impacts, higher depreciation/O&M, modest corporate interest/tax pressure, workforce constraints impacting some projects, and legal/political uncertainties tied to VLC collateral and local sentiment toward data centers. Management expressed confidence in execution and funding plans and views most risks as manageable.Positive Updates
Quarterly Earnings Increase
Q2 2026 diluted earnings per share of $0.91, up $0.15 versus Q2 2025 (approximately +19.7% year-over-year).
Negative Updates
Weather-Related and Timing Headwinds
Weather negatively impacted Q2 earnings by approximately $0.05 versus the prior year; relative to normal conditions, weather had an estimated $0.03 negative impact in Q2 2026 (versus a $0.02 positive impact in Q2 2025). Management still assumes normal weather to meet guidance.
Read all updates
Q2-2026 Updates
Positive
Negative
Quarterly Earnings Increase
Q2 2026 diluted earnings per share of $0.91, up $0.15 versus Q2 2025 (approximately +19.7% year-over-year).
Read all positive updates
Company Guidance
Management reaffirmed 2026 diluted EPS guidance of $5.51–$5.61 (assuming normal weather for the rest of the year) and gave Q3 EPS guidance of $0.92–$0.98 (reflecting July weather and normal thereafter) after reporting Q2 EPS of $0.91, up $0.15 versus Q2 2025. Q2 drivers included grid‑based growth +$0.13 (of which +$0.09 AFUDC equity and +$0.02 incremental cash returns), sales/tax/other +$0.06, a weather headwind of about −$0.05 (≈−$0.03 vs normal, vs +$0.02 in Q2 2025), offsets from +$0.05 higher depreciation and +$0.03 higher O&M, ATC contribution +$0.03, and Energy Infrastructure +$0.11 (including a net ~$0.04 benefit from prior impairment and a $0.02 insurance recovery). On capital and financing, the company is proceeding with a $37.5 billion five‑year plan, expects ~15% of its asset base to serve very large customers by 2030, plans to issue about $1.1 billion of common equity in 2026 (≈$760 million locked in H1 — ~$40 million employee plan, ~$720 million via ATM forwards), would fund incremental capital 50% with equity, targets long‑term EPS CAGR of 7–8% (2026–2030) with acceleration into the upper half of that range starting in 2028, and increased the dividend 6.7% (targeting 6.5–7% annual dividend growth).WEC Energy Group Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
66
Positive
Cash Flow
48
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 10.14B | 9.80B | 8.60B | 8.89B | 9.60B | 8.32B |
| Gross Profit | 6.28B | 4.95B | 3.79B | 3.60B | 3.30B | 3.00B |
| EBITDA | 4.11B | 4.05B | 3.92B | 3.53B | 3.37B | 3.04B |
| Net Income | 1.69B | 1.56B | 1.53B | 1.33B | 1.41B | 1.30B |
Balance Sheet | ||||||
| Total Assets | 52.75B | 51.52B | 47.36B | 43.94B | 41.87B | 38.99B |
| Cash, Cash Equivalents and Short-Term Investments | 50.00M | 27.60M | 9.80M | 42.90M | 28.90M | 16.30M |
| Total Debt | 22.98B | 22.31B | 20.33B | 18.80B | 17.37B | 15.59B |
| Total Liabilities | 38.18B | 37.47B | 34.56B | 31.87B | 30.26B | 27.88B |
| Stockholders Equity | 14.13B | 13.64B | 12.43B | 11.75B | 11.41B | 10.94B |
Cash Flow | ||||||
| Free Cash Flow | -1.40B | -1.02B | 430.70M | 525.50M | -254.20M | -220.10M |
| Operating Cash Flow | 3.55B | 3.38B | 3.21B | 3.02B | 2.06B | 2.03B |
| Investing Cash Flow | -5.10B | -4.87B | -3.80B | -3.56B | -2.64B | -2.31B |
| Financing Cash Flow | 1.55B | 1.52B | 467.70M | 522.80M | 676.40M | 294.00M |
WEC Energy Group Technical Analysis
Negative
115.77
Price Trends
113.72
Negative
113.84
Negative
111.34
Negative
Market Momentum
-0.10
Positive
54.11
Neutral
61.10
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For WEC, the sentiment is Negative. The current price of 115.77 is above the 20-day moving average (MA) of 114.40, above the 50-day MA of 113.72, and above the 200-day MA of 111.34, indicating a bearish trend. The MACD of -0.10 indicates Positive momentum. The RSI at 54.11 is Neutral, neither overbought nor oversold. The STOCH value of 61.10 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for WEC.
WEC Energy Group Risk Analysis
WEC Energy Group disclosed 31 risk factors in its most recent earnings report. WEC Energy Group reported the most risks in the "Production" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
WEC Energy Group Peers Comparison
UnderperformOutperform
Sector (66)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | $36.25B | 22.50 | 11.99% | 3.19% | 8.93% | -0.59% | |
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
63 Neutral | $39.00B | 12.88 | 9.62% | 0.98% | 5.66% | 28.27% | |
61 Neutral | $41.37B | 18.79 | 8.82% | 3.07% | 9.10% | 9.59% | |
60 Neutral | $29.86B | 22.96 | 10.43% | 3.07% | 17.53% | -8.86% | |
59 Neutral | $30.43B | 20.06 | 11.71% | 2.57% | 12.32% | 23.95% | |
58 Neutral | $49.36B | 28.22 | 10.63% | 2.17% | 10.19% | -2.59% |
* Utilities Sector Average
WEC
WEC Energy Group
110.05
4.52
4.28%
AEE
Ameren
108.75
10.42
10.60%
ED
Consolidated Edison
109.66
9.49
9.47%
DTE
DTE Energy
141.70
7.75
5.79%
ETR
Entergy
108.03
19.86
22.52%
PCG
PG&E
17.78
3.91
28.17%
WEC Energy Group Corporate Events
Business Operations and StrategyDividendsFinancial DisclosuresRegulatory Filings and Compliance
WEC Energy Highlights Growth Outlook in June 2026 Update
Positive
Jun 1, 2026
WEC Energy Group used an investor update in June 2026 to highlight its long record of exceeding or meeting the top end of earnings guidance for 22 consecutive years and delivering roughly 6.7% compound annual EPS growth and 6.9% dividend growth si...
Executive/Board ChangesShareholder Meetings
WEC Energy Shareholders Reaffirm Board and Governance Structure
Neutral
May 12, 2026
At its annual meeting held on May 7, 2026, WEC Energy Group shareholders re-elected twelve directors to terms expiring in 2027, reaffirming the company’s current board leadership and governance structure. Shareholders also ratified Deloitte ...
Business Operations and StrategyDividendsFinancial DisclosuresRegulatory Filings and Compliance
WEC Energy outlines growth plans, new tariff approvals
Positive
May 11, 2026
WEC Energy Group is highlighting its long record of consistent financial performance, noting that it has exceeded or met the top end of its earnings guidance on an adjusted basis for 22 consecutive years and delivered compound annual growth of rou...
Executive/Board Changes
WEC Energy Group announces board leadership transition
Neutral
May 8, 2026
WEC Energy Group announced that Gale Klappa, having reached the applicable retirement age under the company’s corporate governance guidelines, completed his service as Chairman of the Board on May 7, 2026. In recognition of his years of serv...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.