Mon, Aug. 31, 2:57 PM
- WEC Energy (WEC -1%) is added to Goldman Sachs' Conviction Buy List, maintaining a Buy rating with a $52 price target as it anticipates upside to consensus earnings estimates due to potential cost management, debt reduction and higher regulated revenues.
- Goldman says the potential cost management would be from the recent acquisitions of regulated electric and gas utilities in Wisconsin and Illinois, adding that strong free cash flow would drive debt reduction.
- The firm sees higher regulated revenues with limited regulatory lag in view of the incremental investment in the Illinois gas utilities; all the factors could drive WEC's above-average dividend growth of nearly 10% per year.
Wed, Jul. 29, 7:05 AM
Thu, Jul. 16, 3:17 PM
- WEC Energy (WEC +2.1%) is upgraded to Outperform from Neutral with a $54 price target, raised from $50, at Baird, which says the combination with Integrys (NYSE:TEG) should fuel attractive long-term total returns reflecting accelerated infrastructure investment opportunities that should support above-average EPS and dividend compound annual growth of 5%-7%.
- Baird says the combined firm appears well positioned to execute on a solid pipeline of regulated capital investment, backed by a constructive regulatory environment which supports timely returns on and of capital as well as a valuation boost from expanded natural gas LDC and transmission businesses.
Wed, Jun. 24, 4:47 PM
- Wisconsin Energy's (NYSE:WEC) planned acquisition of Integrys Energy (NYSE:TEG) wins approval from the Illinois Commerce Commission, the final regulatory decision needed to complete the $9.1B takeover.
- The approval is conditional on more than 40 items being met, including a two-year rate freeze for consumers and continued oversight of the troubled program by Peoples Gas to replace ~2K miles of aging pipes under Chicago streets.
- Wisconsin, Michigan and Minnesota regulators already approved the deal.
Mon, Jun. 15, 3:00 PM
- In anticipation of acquisition date of Integrys Energy (NYSE:TEG) by Wisconsin Energy (NYSE:WEC) prior to next dividend record date, Wisconsin Energy declares pro-rata dividend of $0.00459/share per day from 15 May till the effective date of acquisition.
- The record date shall be the day preceeding the effective date of acquisition.
- The newly formed company WEC Energy increased its quarterly dividend by 8.3% to $0.4575/share. The pro-rata dividend of $0.00497/share per day from the date of acquisition till 14 Aug.
- The dividend will be payable on Sep 1 to shareholders on record of Aug 14.
Mon, Jun. 15, 2:05 PM
- In anticipation of merger record date prior to Integrys Energy (NYSE:TEG) and Wisconsin Energy (NYSE:WEC) next dividend record date, Integrys Energy board declares pro-rata dividend of $0.00723/share per day from 30 May till the day prior to the effective date of merger.
- The record date shall be the day preceeding the effective date of merger.
- The newly formed company WEC Energy plans to declare quarterly dividend of $0.4575/share.
Fri, Jun. 12, 4:53 PM
- The Minnesota Public Utilities Commission approves Wisconsin Energy's (NYSE:WEC) $9B purchase of Integrys Energy (NYSE:TEG), and declines to require that Minnesota utility customers be awarded bill refunds or credits proposed by the state attorney general's office.
- WEC has now received approval from utility regulators in Wisconsin, Michigan and Minnesota as well as several federal agencies, and the deal needs one more yes vote - in Illinois - to be completed, where the AG is expected to argue next week that the merger should not be approved unless the state takes more steps to protect Chicago residents in light of a multibillion-dollar gas main replacement project there.
Thu, May 21, 4:47 PM
- Wisconsin's Public Service Commission gives formal approval for Wisconsin Energy's (NYSE:WEC) $9.1B acquisition of Integrys (NYSE:TEG), with some conditions.
- With today's approval and last month's OK from the Michigan Public Service Commission, only Illinois and Minnesota state approvals remain outstanding.
- The deal would create one of the largest natural gas utilities in the U.S., expanding the Wisconsin-focused utility's presence in Michigan and allowing it to enter Illinois and Minnesota.
Tue, May 5, 7:05 AM
Thu, Apr. 16, 1:53 PM
Wed, Feb. 11, 7:04 AM
Tue, Feb. 10, 5:30 PM
Thu, Jan. 15, 2:45 PM
Tue, Jan. 13, 5:34 PM
- Wisconsin Energy (NYSE:WEC) will sell its Upper Peninsula power plant and Michigan utility business under an agreement announced today by the Michigan governor's office, clearing a hurdle for WEC to pursue its $9.1B acquisition of Integrys Energy (NYSE:TEG).
- WEC would sell its Upper Peninsula utility business to Upper Peninsula Power Co., including the coal-fired power plant it operates on Lake Superior in Marquette, Mich., while retaining 10 hydroelectric dams but selling its utility operations to UPPCo.
- Other elements of the plan call for Cliffs Natural Resources (NYSE:CLF), the operator of two iron ore mines in the Upper Peninsula, to buy power from UPPCo until the Presque Isle coal plant shuts down in about five years.
Oct. 29, 2014, 7:11 AM
Oct. 28, 2014, 5:30 PM
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WEC vs. ETF Alternatives
WEC Energy Group Inc is an energy holding company. The Company, through its subsidiaries, provides utility services such as distributing electric, gas, steam, and water. Its business segments areutility energy and a non-utility energy.
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