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WEC Energy's (WEC) first-quarter 2024 earnings, as well as total electric sales volume, increase year over year.
Investors interested in Utility - Electric Power stocks are likely familiar with DTE Energy (DTE) and WEC Energy Group (WEC). But which of these two stocks offers value investors a better bang for their buck right now?
WEC Energy Group (WEC) came out with quarterly earnings of $1.97 per share, beating the Zacks Consensus Estimate of $1.89 per share. This compares to earnings of $1.61 per share a year ago.
U.S. electric utility WEC Energy Group said on Monday it will acquire 90% ownership stake in a solar project located near Dallas, Texas for about $459 million.
WEC Energy is a $26 billion (by market cap) major power utility player that provides electricity to 1.6 million customers and natural gas to 3 million customers across several states. The company has been growing at a relatively fast clip for years, which has helped to fuel faster-than-average dividend growth, with a 10-year dividend growth rate of 8%. With a payout ratio of 79.1% - elevated but not uncommonly so for a power utility - the dividend should continue to grow at a rate that roughly matches business growth.
WEC Energy (WEC) continues to benefit from its strategic investment plans, focus on clean energy and customer growth.
With the broader market focused on the future potential of artificial intelligence, traditional value stocks such as regulated utilities are currently attracting little to no interest.
I love owning companies with a proven track record of rewarding shareholders with rising dividend payments. WEC Energy Group's total operating revenue fell as its non-GAAP diluted EPS surged higher in Q4. The electric and gas utility has the balance sheet and cash flow needed to carry out its five-year capital plan.
WEC Energy's (WEC) fourth-quarter earnings on par with estimates, but revenues are lower than expected. The company continues to make long-term investments to strengthen its infrastructure to efficiently serve its customers.
WEC Energy Group (WEC) came out with quarterly earnings of $1.10 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.80 per share a year ago.