“The increase in cash paid for capital expenditures at the non-utility energy infrastructure segment during the first quarter of 2026, compared with the same quarter in 2025, was driven by an increase in capital expenditures related to fuel flexibility project…”10-Q · May 7, 2026 ↗
WEC Energy Group, Inc.
WEC
Market read
WEC Energy Group, Inc.'s current read is isolated; its market group is not confirming.
No new filing conclusion is available. 0 of 5 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 3 directly disclosed connections are confirming.
- Total capital expenditures for Q1 2026 were $817.9M, up $116.8M vs Q1 2025, driven by Wisconsin CTs/LNG and renewables and higher non-utility project spending.
Invalidation: The isolated read changes if WEC's group or a disclosed connection begins moving with it.
Research brief
The story so far
No new filing conclusion is available. 0 of 5 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 3 directly disclosed connections are confirming.
No thresholded supportive filing evidence is available yet.
No thresholded adverse filing evidence is available yet.
- Total capital expenditures for Q1 2026 were $817.9M, up $116.8M vs Q1 2025, driven by Wisconsin CTs/LNG and renewables and higher non-utility project spending.
Company research
Understand the business, not just the ticker
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
- Latest annual revenue changed +14.0% year over year.
- Demand and volume has repeated favorable evidence across 4 filings.
- Operating margin changed -2.1 percentage points in the latest annual period.
- Diluted shares increased 2.3% in the latest annual period.
- Capital investment and capacity has repeated adverse evidence across 4 filings.
- Energy and commodity prices has repeated adverse evidence across 4 filings.
No credible peer-relative valuation comparison is available yet.
Price as of Sep 9, 2026
106.16Reported annual revenue and per-share history. This is accounting history, not a forecast.
What management says matters
Persistent and emerging business drivers
“Interest Expense Interest expense at the corporate and other segment increased $5.1 million during the first quarter of 2026, compared with the same quarter in 2025, due to higher average short-term debt balances.”10-Q · May 7, 2026 ↗
“This increase was driven by the impact of the Wisconsin rate orders approved by the PSCW, effective January 1, 2026.”10-Q · May 7, 2026 ↗
“Table of Contents Cash generated from operations is primarily driven by sales of electricity and natural gas to our utility customers, reduced by costs of operations.”10-Q · May 7, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 3.5× · EV/sales 5.4×. Comparisons use only industry-matched filing peers.
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 9 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for WEC. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Filing analysis
No comparable filing assessment is available yet
Jodie has not yet found a suitable current-versus-prior filing comparison for WEC. This does not mean the latest filing was neutral or immaterial.
Business ecosystem
The relationships behind WEC
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
PWFiling-linked namepartnerMay 7, 2026 ▾
“Introduction We are a diversified holding company with natural gas and electric utility operations (serving customers in Wisconsin, Illinois, Michigan, and Minnesota), an approximately 60% equity ownership interest in ATC (a for-profit electric transmission c…”
WELPPFiling-linked namepartnerFeb 20, 2026 ▾
“NOTE 26— REGULATORY ENVIRONMENT Wisconsin Electric Power Company, Wisconsin Public Service Corporation, and Wisconsin Gas LLC Very Large Customer and Bespoke Resources Tariffs In March 2025, WE filed an application with the PSCW requesting approval to impleme…”
Depended on by
MGEEMGE Energy, Inc.competitorNov 5, 2025 ▾
“ower Company, a subsidiary of WEC Energy Group, Inc.”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
WEC is currently a Leader in the organic co-movement group Regulated Utilities. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.