WEC Energy Group, Inc. (WEC) Stock

WEC Energy Group, Inc. (WEC) is a Utilities stock trading at $106.01 (as of 2026-08-21), with a market capitalization of $34.53B and a trailing P/E of 15.8. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

WEC Energy Group, Inc., through subsidiaries, provides regulated electricity and natural gas services and develops and sells renewable and other nonregulated renewable energy in the United States. Its operations are organized into segments including Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure, and Corporate and Other.

Understand WEC Energy Group, Inc.: how it makes money

WEC Energy Group provides regulated natural gas and electricity service, and also delivers electric transmission and renewable and nonregulated renewable energy services, generating and distributing power and delivering natural gas and transmission services in the United States.

Profit is driven by operating energy infrastructure that delivers regulated electric and natural gas services, alongside additional revenue from electric transmission and renewable and nonregulated renewable energy operations.

Business quality (Strong): Strong clarity on business model and where value comes from, regulated utility operations plus transmission and renewable/nonregulated energy services, but the provided data does not break results out by the official segments, limiting how precisely investors can attribute performance.

Valuation: At 22× earnings, WEC trades in line with the Utilities average (22×). Note: one-time items can distort reported P/E.

Bull case

Regulated utilities and transmission are central to the model: The company provides regulated natural gas and electricity services and offers electric transmission services.
Broad generation and energy sources: It generates and distributes electricity from multiple sources, including coal, natural gas, oil, hydroelectric, wind, solar, and biomass.
Multiple operating lines: Operations span electric and gas service, electric transmission, and non-utility energy infrastructure, plus renewable and nonregulated renewable energy services.

Bear case

Results may be sensitive to changes across regulated and nonregulated activities: The business mix includes both regulated utility services and renewable and nonregulated renewable energy services, which can have different performance drivers.
Performance attribution is unclear with the provided information: The official reportable segments are listed, but no segment-level revenue values were provided, making it harder to pinpoint what is driving results.
Operating complexity across many energy paths: The company operates across several energy sources and service types, including generation, distribution, transmission, and gas transport, which can increase execution risk.

Valuation — source: SEC EDGAR (first-party)
Price	$106.01
Market Cap	$34.53B
P/E Ratio	15.8
EV / EBITDA	12.8
Price / Book	2.37
Price / Sales	3.13
FCF Yield	1.4%
DCF Value (model)	$23.60
DCF Upside vs Price	-77.7%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$9.80B
Net Margin	15.9%
Revenue Growth (YoY)	2.6%
FCF Growth (YoY)	-155.6%

Financial Health — source: SEC EDGAR
Altman Z-Score	1.06 (distress)
Piotroski F-Score	4/9 (moderate)

Valuation vs Sector & Industry
Stock P/E	15.8
Sector P/E (Utilities)	20.8
Industry P/E (Utilities)	20.1
vs Sector	-24.1%
vs Industry	-21.2%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	VANGUARD GROUP INC ($4.33B)
Institutional Holders Tracked	10
Congressional Trades (recent)	10

Company
Sector	Utilities
Industry	Utilities
CEO	Scott J. Lauber
Employees	7,000
Country	US
IPO Date	1980-03-17

Related Companies (Business model: Regulated Utility (Electric / Gas); 8 closest by market cap; US-domiciled)

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.