WEC Energy Group Inc (WEC) has sailed past records with its Q4 2024 earnings and unexpected surge in its dividend. Insights from multiple financial analysts note the utility giant's growth plan following a substantial rise in its dividend. Extra demands brought about by development, such as Cloverleaf and data centers from Microsoft, point out the group's need to generate more power. The group's 2025-2029 Capital Plan amounting to $24.8 billion was unveiled during a presentation. Meanwhile, holdings by Mediolanum International Funds Ltd are reduced. Strong earning growth has been reported for 2024, not minding a slight miss in EPS and quarterly revenue estimates. Furthermore, the group reaffirmed its outlook for FY25 earnings per share. The company has also disclosed its program to escalate its dividend to $0.8925. Another call for sustainability and ‘just rates’ was raised against WEC Energy Group. As part of their strategic plan, the group is set to increase its dividends by 6.9%. It also aims to inject an additional $2.1 billion in renewable sources by 2029. The group's transition towards renewables furthermore brings an expansion to their $28B capital plan. The Q4 2024 earnings, unfortunately, fell short of many estimates.
Wec Energy Group WEC News Analytics from Fri, 17 May 2024 07:00:00 GMT to Fri, 07 Feb 2025 21:52:08 GMT -
Rating 8
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