WEC ENERGY GROUP INC. REPORTS FIRST-QUARTER PROFIT AND REVENUE THAT TOPS EXPECTATIONS, PROVIDES UPBEAT OUTLOOK FOR FULL YEAR

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Wec Energy Stock Fair Value – WEC ($NYSE:WEC) Energy Group Inc., an electric and natural gas utility company, reported first-quarter profit and revenue that topped expectations. The company’s shares rose 1.4% in premarket trading Tuesday after it provided an upbeat outlook for the full year. “Our first-quarter results were better than we expected, primarily due to lower income taxes,” said Gale Klappa, chairman and CEO of WEC Energy Group, in a statement.

Earnings

In its earning report of FY2022 Q2 as of June 30, WEC ENERGY earned 9.0B USD in total revenue, earned 1.4B USD in net income. Compared to previous year, 8.4% increase in total revenue, 7.7% increase in net income. WEC ENERGY‘s total revenue reached from 7.2B USD to 9.0B USD in the last 3 years. The company attributed the strong results to higher demand for electricity and gas due to colder weather, as well as higher prices for natural gas.

Price History

Right now, media exposure for WEC Energy is mostly positive. On Wednesday, WEC Energy stock opened at $86.7 and closed at $86.8, down by 1.2% from its last closing price of $87.8. “Our first-quarter results demonstrate the strength of our business model and our focus on operational excellence,” said CEO Gale Klappa in a statement.

VI Analysis – Wec Energy Stock Fair Value

WEC Energy‘s sound fundamentals reflect the company’s long-term potential. Below, we analyze the company’s key financial indicators using the VI app. However, the stock is currently trading at $86.8, representing a discount of 19%. Overall, WEC Energy presents a compelling investment opportunity for value-minded investors.

VI Peers

WEC Energy Group Inc, a diversified energy holding company, engages in the business of providing electric and natural gas service through its subsidiaries. Dominion Energy Inc, Central Puerto SA, and Portland General Electric Co are some of WEC Energy Group’s competitors in the energy industry.

– Dominion Energy Inc ($NYSE:D)

Dominion Energy Inc is a leading provider of electricity and natural gas. The company serves more than 6 million customers in the United States. Dominion Energy Inc has a strong portfolio of assets and a commitment to safety, reliability, and customer service. The company’s market cap is 54.69B as of 2022 and its ROE is 7.47%. Dominion Energy Inc is a diversified energy company with a focus on electricity and natural gas. The company is one of the largest producers and transporters of energy in the United States. Dominion Energy Inc is committed to providing affordable, reliable, and clean energy to its customers.

– Central Puerto SA ($NYSE:CEPU)

Central Puerto SA is an Argentine electricity company that supplies power to the central and northern regions of the country. It has a market cap of 1.25B as of 2022 and a Return on Equity of 7.42%. The company generates, transmits, and distributes electricity through a network of over 3,000 kilometers of high-voltage lines and more than 60,000 kilometers of medium- and low-voltage lines. It also has a thermal power plant with a capacity of 1,200 MW.

– Portland General Electric Co ($NYSE:POR)

Portland General Electric Co is an electric utility company that serves customers in Oregon. As of 2022, the company had a market capitalization of $3.9 billion and a return on equity of 9.64%. The company is involved in the generation, transmission, and distribution of electricity, as well as the sale of electricity to retail and wholesale customers. Portland General Electric is the largest electricity provider in Oregon, serving over 800,000 customers.

Summary

WEC Energy Group, Inc. is a diversified energy delivery company with operations in Wisconsin, Illinois, Michigan and Minnesota. The company serves more than 4 million customers through its electric and natural gas utilities, We Energies, Wisconsin Public Service and Peoples Gas. WEC Energy Group’s other operations include We Power, the non-utility electricity generation business, and WPS Resources, the holding company for the company’s natural gas pipelines and other energy infrastructure assets. WEC Energy Group has a long history of paying dividends and is committed to maintaining a strong balance sheet. The company has a diversified mix of electric and natural gas utilities, which helps to mitigate risk.

WEC Energy Group also has a growing non-utility business, which provides additional growth potential. Investors seeking exposure to the energy sector may want to consider WEC Energy Group. The company offers a diversified mix of electric and natural gas utilities, which helps to mitigate risk. WEC Energy Group also has a growing non-utility business, which provides additional growth potential.