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WEC Energy Group
(NYSE:WEC)
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Rating:66Neutral
Price Target:
$120.00
â–²(3.56% Upside)
Action:Reiterated
Date:06/02/26
The score is held back mainly by negative free cash flow during an elevated capex cycle alongside already-high utility leverage, despite steady profitability. Offsetting these are a constructive earnings-call outlook with reaffirmed guidance, long-term growth targets tied to large-customer/data-center demand, and supportive regulatory progress. Technicals are currently neutral-to-soft, while valuation is moderately supported by the dividend but tempered by a ~22x P/E.
Positive Factors
Constructive regulatory outcomes
Regulatory approval of a Very Large Customer tariff with a constructive ROE and 57% equity ratio establishes durable cost recovery and credit protection. This framework supports long-term rate base growth from big customers while limiting cross-subsidies, improving earnings visibility over multi-year projects.
Negative Factors
High leverage and negative FCF
Sustained leverage near 1.6 and materially negative free cash flow increase reliance on external financing during a prolonged capex cycle. This constrains financial flexibility, raises refinancing risk and can pressure credit metrics if capital intensity or regulatory timing slips over the next 2–5 years.
Read all positive and negative factors
Positive Factors
Negative Factors
Constructive regulatory outcomes
Regulatory approval of a Very Large Customer tariff with a constructive ROE and 57% equity ratio establishes durable cost recovery and credit protection. This framework supports long-term rate base growth from big customers while limiting cross-subsidies, improving earnings visibility over multi-year projects.
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
$38.71B
Dividend Yield3.38%
Average Volume (3M)2.23M
Price to Earnings (P/E)23.5
Beta (1Y)0.04
Revenue Growth11.20%
EPS Growth-1.68%
CountryUS
Employees7,000
SectorUtilities
Sector Strength65
IndustryRegulated Electric
Share Statistics
EPS (TTM)5.05
Shares Outstanding325,725,680
10 Day Avg. Volume2,406,424
30 Day Avg. Volume2,226,441
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 Cap1.52
Enterprise Value/Revenue5.84
Enterprise Value/Gross Profit10.48
Enterprise Value/Ebitda14.22
Forecast
1Y Price Target
$123.92Price Target Upside6.94% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering12
EPS Forecast (FY)5.6
Revenue Forecast (FY)$10.12B
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 Energy Group primarily makes money through regulated utility operations. The largest revenue stream comes from selling electricity and natural gas to residential, commercial, and industrial customers under state utility regulation. In this mod...
WEC Energy Group Earnings Call Summary
Earnings Call Date:May 05, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 29, 2026
Earnings Call Sentiment Positive
The call highlighted a generally constructive operational and regulatory backdrop: Q1 EPS beat year-over-year, guidance was reaffirmed, a sizable $37.5B five-year capital plan tied to data center-driven growth was presented, renewable investments advanced, the VLC tariff received verbal approval with constructive ROE/equity parameters, and the company has secured about half of planned 2026 equity needs. Offsetting items include declines in natural gas deliveries, expected 3%–5% O&M inflation, significant future replacement capex for Point Beach (estimated $2.0–$2.5B), and some localized development and regulatory uncertainties (Illinois rate case and local moratoria). Overall, positive execution, substantial growth opportunities (notably data centers and renewables), and orderly financing plans outweigh the manageable near-term cost pressures and future large-capex needs.Positive Updates
Q1 2026 EPS Growth
Reported Q1 2026 earnings per share of $2.45, up $0.18 versus Q1 2025.
Negative Updates
Natural Gas Delivery Declines
Weather-adjusted natural gas deliveries were down approximately 2.1% year-over-year in Q1; management noted volumes were modestly worse than forecast and cited metropolitan/residential usage shifts.
Read all updates
Q1-2026 Updates
Positive
Negative
Q1 2026 EPS Growth
Reported Q1 2026 earnings per share of $2.45, up $0.18 versus Q1 2025.
Read all positive updates
Company Guidance
The company reaffirmed 2026 earnings guidance of $5.51–$5.61 per share (assuming normal weather) and Q2 guidance of $0.76–$0.82, after reporting Q1 EPS of $2.45 (+$0.18 YoY); it expects full‑year electric sales growth of ~1.5% (Q1 weather‑normal retail deliveries +1.3%, large C&I +3%) and utility day‑to‑day O&M to rise 3%–5% versus 2025. Management reiterated a $37.5 billion 5‑year capital plan (low‑risk, executable), $15 billion expected Vantage phase investment (first facility potentially late‑2027) with 1.3 GW of near‑term Vantage demand (3.5 GW potential), and ~15% of the asset base attributable to very large customers by 2030; planned renewables and storage investments include a $225 million solar project placed in service and ~$730 million of newly approved solar/battery projects. Long‑term EPS is projected to grow 7%–8% CAGR from 2026–2030 (accelerating to the upper half of the range starting in 2028), Point Beach replacement is being modeled at roughly $2.0–$2.5 billion for ~1 GW, the Wisconsin VLC ROE was approved at 10.48%–10.98% with a 57% equity ratio, they expect Wisconsin and Illinois rate orders by year‑end (new WI rates effective Jan 2027/2028), and financing plans include up to $1.1 billion of common equity in 2026 with ~$455 million already locked (50% equity target for incremental capital).WEC Energy Group Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
64
Positive
Cash Flow
52
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 10.08B | 9.80B | 8.60B | 8.89B | 9.60B | 8.32B |
| Gross Profit | 5.62B | 4.95B | 3.79B | 3.60B | 3.30B | 3.00B |
| EBITDA | 4.15B | 4.05B | 3.92B | 3.53B | 3.37B | 3.04B |
| Net Income | 1.64B | 1.56B | 1.53B | 1.33B | 1.41B | 1.30B |
Balance Sheet | ||||||
| Total Assets | 51.73B | 51.52B | 47.36B | 43.94B | 41.87B | 38.99B |
| Cash, Cash Equivalents and Short-Term Investments | 45.60M | 27.60M | 9.80M | 42.90M | 28.90M | 16.30M |
| Total Debt | 22.32B | 22.31B | 20.33B | 18.80B | 17.37B | 15.59B |
| Total Liabilities | 37.16B | 37.47B | 34.56B | 31.87B | 30.26B | 27.88B |
| Stockholders Equity | 14.16B | 13.64B | 12.43B | 11.75B | 11.41B | 10.94B |
Cash Flow | ||||||
| Free Cash Flow | -1.11B | -1.02B | 430.70M | 525.50M | -254.20M | -220.10M |
| Operating Cash Flow | 3.41B | 3.38B | 3.21B | 3.02B | 2.06B | 2.03B |
| Investing Cash Flow | -4.66B | -4.87B | -3.80B | -3.56B | -2.64B | -2.31B |
| Financing Cash Flow | 1.19B | 1.52B | 467.70M | 522.80M | 676.40M | 294.00M |
WEC Energy Group Technical Analysis
Positive
115.87
Price Trends
113.27
Positive
113.79
Positive
110.91
Positive
Market Momentum
1.44
Negative
63.32
Neutral
77.00
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For WEC, the sentiment is Positive. The current price of 115.87 is above the 20-day moving average (MA) of 114.57, above the 50-day MA of 113.27, and above the 200-day MA of 110.91, indicating a bullish trend. The MACD of 1.44 indicates Negative momentum. The RSI at 63.32 is Neutral, neither overbought nor oversold. The STOCH value of 77.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 |
|---|---|---|---|---|---|---|---|
68 Neutral | $31.83B | 20.50 | 11.71% | 2.86% | 12.32% | 23.95% | |
66 Neutral | $38.71B | 23.53 | 11.99% | 3.38% | 11.20% | -1.68% | |
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
64 Neutral | $32.05B | 25.21 | 10.43% | 3.45% | 22.33% | -17.75% | |
62 Neutral | $37.55B | 13.22 | 9.16% | 0.66% | 5.26% | 18.73% | |
61 Neutral | $42.01B | 19.13 | 8.82% | 3.44% | 9.10% | 9.59% | |
60 Neutral | $52.71B | 28.92 | 10.63% | 2.64% | 12.03% | 27.47% |
* Utilities Sector Average
WEC
WEC Energy Group
118.83
17.91
17.75%
AEE
Ameren
115.02
21.75
23.32%
ED
Consolidated Edison
113.99
17.49
18.12%
DTE
DTE Energy
154.06
27.16
21.40%
ETR
Entergy
115.11
35.43
44.47%
PCG
PG&E
17.05
3.55
26.33%
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...
Business Operations and StrategyRegulatory Filings and Compliance
WEC Energy Seeks Wisconsin Rate Hikes, Delays Coal Exit
Neutral
Apr 1, 2026
On April 1, 2026, WEC Energy’s Wisconsin utilities filed rate requests with the Public Service Commission of Wisconsin to set new 2027 and 2028 base rates for electric, natural gas and steam service, proposing modest return-on-equity increas...
Business Operations and StrategyDividendsFinancial DisclosuresRegulatory Filings and Compliance
WEC Energy Highlights Data Center-Driven Growth Outlook
Positive
Mar 2, 2026
WEC Energy Group used its March 2026 investor presentation to highlight its earnings and dividend growth track record, ongoing dividend policy and expanding capital plan as it meets with investors. The company reiterated a robust long‑term e...
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.