Argus

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May 15, 2026

Symbols

Sector(s)

Utilities

Rating

Earnings Estimate

Current Price

$109.68

Price Target

Summary

WEC Energy Group Inc., based in Milwaukee, is a 98%-regulated energy company serving 4.7 million utility customers in Wisconsin, Illinois, Minnesota, and Michigan. The company is an electricity generator with transmission and distribution operations and also distributes natural gas. It has over 15 utility subsidiaries, primarily We Energies, Wisconsin Public Service, Peoples Gas, and Minnesota Energy Resources. Its other major subsidiary, We Power, designs, builds, and owns electricity generating plants.

In 2025, total revenues topped $9.8 billion. Regulated electric operations account for about three-fourths of consolidated revenues. Of GAAP net income, about 56% has been earned in Wisconsin and 17% in Illinois. WEC is heavily dependent on the Wisconsin economy and the dairy industry and has a relatively larger residential base as compared to its commercial base.

The company's current owned generation capacity is about 8 GW, with a fuel mix that is 33% natura

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