Management Meeting: WEC Energy Group Revamps Modernization Program
We are reaffirming our $54 fair value estimate for WEC Energy Group, along with our narrow moat and stable moat trend ratings, after meeting with the company's senior management at the Edison Electric Institute Financial Conference in Phoenix, Arizona. Management reaffirmed its long-term 5%-7% growth target, consistent with our 6.4% estimate. Our expectations for continued constructive regulation across WEC Energy Group's service territory should allow for timely cash recovery and above-average ...WEC Energy Group is a holding company. Through its subsidiaries, the company provides regulated natural gas and electricity, and nonregulated renewable energy. The company's segments include: Wisconsin, which generates and distributes electric energy and provides retail natural gas distribution service; Illinois, which includes the natural gas utility operations; Electric Transmission, which owns, maintains, monitors, and operates electric transmission systems in Wisconsin, Michigan, Illinois, and Minnesota; and Non-Utility Energy Infrastructure, which owns and leases generating facilities to its Wisconsin Electric Power Company subsidiary and owns underground natural gas storage facilities in Michigan.
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