WEC Energy Group (WEC) Research

Forward Estimates

EPS Estimates

Current Qtr

$0.81

$0.78$0.83

vs $0.76+6.3%

4 analysts

Next Qtr

$0.89

$0.82$0.92

vs $0.83+6.9%

4 analysts

Current Yr

$5.59

$5.57$5.61

vs $4.81+16.3%

9 analysts

Next Yr

$6.01

$5.96$6.06

vs $5.59+7.5%

8 analysts

Revenue Estimates

Current Qtr

$2.04B

$1.47B$2.23B

vs $2.01B+1.6%

8 analysts

Next Qtr

$2.14B

$1.63B$2.34B

vs $2.10B+1.5%

8 analysts

Current Yr

$10.34B

$9.48B$10.84B

vs $9.80B+5.5%

14 analysts

Next Yr

$10.84B

$8.80B$11.48B

vs $10.34B+4.9%

15 analysts

SEC filings →

View all 10-K, 10-Q, and 8-K filings for WEC on EDGAR.

WEC filing events and research context
Filed	Item	Context
May 7, 2026	mda_quarterly	WEC Energy Group is experiencing significant electric demand growth in Wisconsin, driven by large-scale data center investments from Microsoft and Vantage Data Centers, with projected load increases of up to 6.1 GW. To support this, the company's 2026–2030 capital plan allocates approximately $33.4 billion to regulated utilities and $4.1 billion to ATC. Key investments include $5.4 billion for 3,300 MW of combustion turbines and 180 MW of reciprocating engines, alongside $12.6 billion for 3,850 MW of solar, 2,130 MW of battery storage, and 555 MW of wind. WEC aims for net carbon-neutral generation by 2050, targeting the total elimination of coal by 2032. To manage large-scale demand, the PSCW approved new Very Large Customer and Bespoke Resources tariffs to prevent cost-shifting to residential ratepayers. First-quarter 2026 net income attributed to common shareholders rose to $804.4 million, up from $724.2 million in 2025, primarily due to Wisconsin rate orders and higher WECI operating income. Key operational risks include EPA regulatory shifts regarding GHG and particulate matter standards and a mandate to retire all cast and ductile iron pipe under 36 inches in Illinois by 2035.
Feb 20, 2026	business	WEC Energy Group operates regulated electric and natural gas utilities across Wisconsin, Illinois, Minnesota, and Michigan. As of December 31, 2025, the company maintains a debt-to-total capitalization ratio of 61.7% and manages $3.6 billion in pension and OPEB trust assets. Key regulatory risks are concentrated in Illinois, where the "Future of Gas" proceeding and Chicago’s proposed Climate Action Building Ordinance (CABO) threaten the long-term viability of natural gas infrastructure. Additionally, the ICC has mandated the retirement of specific cast and ductile iron pipes by 2035. In the renewables sector, WEC faces increased costs and project delays due to the Uyghur Forced Labor Prevention Act and Department of Commerce tariffs on Southeast Asian solar cells, though these are partially offset by tax credits from the Inflation Reduction Act and the One Big Beautiful Bill Act. Transmission earnings via ATC are subject to FERC ROE determinations, with a current base ROE of 9.98% and a potential loss of a 50-basis-point membership incentive. Broader financial exposures include commodity price volatility for coal and natural gas, weather-driven margin sensitivity, and interest rate risk on variable-rate debt.
Feb 20, 2026	mda	WEC Energy Group operates regulated electric and natural gas utilities across Wisconsin, Illinois, Michigan, and Minnesota, maintaining a 60% equity interest in the American Transmission Company (ATC). The company is facing a significant surge in electric demand driven by large-scale data centers, including projects from Microsoft and Vantage Data Centers, with projected load increases of up to 3.5 GW. To support this growth and achieve net carbon neutrality by 2050, WEC has established a $37.5 billion capital plan for 2026–2030. This includes $12.6 billion for regulated renewables—specifically 3,850 MW of solar and 2,130 MW of battery storage—and $5.4 billion for natural gas-fired generation. WEC intends to eliminate coal as an energy source by 2032. Key regulatory risks include an Illinois Commerce Commission mandate to retire all cast and ductile iron pipe under 36 inches by 2035 and the pending approval of "Very Large Customer" (VLC) tariffs in Wisconsin to prevent cost-shifting to residential ratepayers. Additionally, the company leverages the Inflation Reduction Act by selling Production Tax Credits from its non-utility renewable portfolio to third parties to enhance liquidity.

Filed

Item

Context

May 7, 2026

mda_quarterly

WEC Energy Group is experiencing significant electric demand growth in Wisconsin, driven by large-scale data center investments from Microsoft and Vantage Data Centers, with projected load increases of up to 6.1 GW. To support this, the company's 2026–2030 capital plan allocates approximately $33.4 billion to regulated utilities and $4.1 billion to ATC. Key investments include $5.4 billion for 3,300 MW of combustion turbines and 180 MW of reciprocating engines, alongside $12.6 billion for 3,850 MW of solar, 2,130 MW of battery storage, and 555 MW of wind. WEC aims for net carbon-neutral generation by 2050, targeting the total elimination of coal by 2032. To manage large-scale demand, the PSCW approved new Very Large Customer and Bespoke Resources tariffs to prevent cost-shifting to residential ratepayers. First-quarter 2026 net income attributed to common shareholders rose to $804.4 million, up from $724.2 million in 2025, primarily due to Wisconsin rate orders and higher WECI operating income. Key operational risks include EPA regulatory shifts regarding GHG and particulate matter standards and a mandate to retire all cast and ductile iron pipe under 36 inches in Illinois by 2035.

Feb 20, 2026

business

WEC Energy Group operates regulated electric and natural gas utilities across Wisconsin, Illinois, Minnesota, and Michigan. As of December 31, 2025, the company maintains a debt-to-total capitalization ratio of 61.7% and manages $3.6 billion in pension and OPEB trust assets. Key regulatory risks are concentrated in Illinois, where the "Future of Gas" proceeding and Chicago’s proposed Climate Action Building Ordinance (CABO) threaten the long-term viability of natural gas infrastructure. Additionally, the ICC has mandated the retirement of specific cast and ductile iron pipes by 2035. In the renewables sector, WEC faces increased costs and project delays due to the Uyghur Forced Labor Prevention Act and Department of Commerce tariffs on Southeast Asian solar cells, though these are partially offset by tax credits from the Inflation Reduction Act and the One Big Beautiful Bill Act. Transmission earnings via ATC are subject to FERC ROE determinations, with a current base ROE of 9.98% and a potential loss of a 50-basis-point membership incentive. Broader financial exposures include commodity price volatility for coal and natural gas, weather-driven margin sensitivity, and interest rate risk on variable-rate debt.

Feb 20, 2026

mda

WEC Energy Group operates regulated electric and natural gas utilities across Wisconsin, Illinois, Michigan, and Minnesota, maintaining a 60% equity interest in the American Transmission Company (ATC). The company is facing a significant surge in electric demand driven by large-scale data centers, including projects from Microsoft and Vantage Data Centers, with projected load increases of up to 3.5 GW. To support this growth and achieve net carbon neutrality by 2050, WEC has established a $37.5 billion capital plan for 2026–2030. This includes $12.6 billion for regulated renewables—specifically 3,850 MW of solar and 2,130 MW of battery storage—and $5.4 billion for natural gas-fired generation. WEC intends to eliminate coal as an energy source by 2032. Key regulatory risks include an Illinois Commerce Commission mandate to retire all cast and ductile iron pipe under 36 inches by 2035 and the pending approval of "Very Large Customer" (VLC) tariffs in Wisconsin to prevent cost-shifting to residential ratepayers. Additionally, the company leverages the Inflation Reduction Act by selling Production Tax Credits from its non-utility renewable portfolio to third parties to enhance liquidity.

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WEC filing events and research context

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