WEC

WISCONSIN ELECTRIC POWER CO

12 filings tracked

utilitieselectric utilityLARGE ($10B-200B)

Signal Magnitude Chart

bullish

bearish

neutral

Signal Timeline

bullishMay 7

Net income grew 11.1% year-over-year driven by Wisconsin rate orders.

earnings beat

70%

bullishMay 7

New VLC and Bespoke Resources tariffs approved to capture AI data center load.

guidance raise

80%

bullishMay 7

Quarterly dividend increased by 6.7% to $0.9525 per share.

dividend change

60%

bearishMay 7

Significant increase in long-term debt to fund $37.5B capital plan.

dilution risk

40%

bullishMay 7

Net income increased nearly 20% year-over-year to $235.2 million.

earnings beat

70%

bullishMay 7

Proposed 2027 rate case seeks a 9.9% ROE to support massive capital expansion.

guidance raise

60%

bullishMay 7

Utility margin increased by $62.4 million driven by rate orders and VLC returns.

margin expansion

50%

neutralMay 7

Issued $300 million in long-term debt to fund capital projects.

capital raise

40%

bullishMay 7

Net income grew 11.1% year-over-year driven by Wisconsin rate orders.

earnings beat

70%

bullishMay 7

New VLC and Bespoke Resources tariffs approved to capture AI data center load.

guidance raise

80%

bullishMay 7

Quarterly dividend increased by 6.7% to $0.9525 per share.

dividend change

60%

bearishMay 7

Significant increase in long-term debt to fund $37.5B capital plan.

dilution risk

40%

bullishMay 7

Net income increased nearly 20% year-over-year to $235.2 million.

earnings beat

70%

bullishMay 7

Proposed 2027 rate case seeks a 9.9% ROE to support massive capital expansion.

guidance raise

60%

bullishMay 7

Utility margin increased by $62.4 million driven by rate orders and VLC returns.

margin expansion

50%

neutralMay 7

Issued $300 million in long-term debt to fund capital projects.

capital raise

40%

bullishMay 7

Net income grew 11.1% year-over-year driven by Wisconsin rate orders.

earnings beat

70%

bullishMay 7

New VLC and Bespoke Resources tariffs approved to capture AI data center load.

guidance raise

80%

bullishMay 7

Quarterly dividend increased by 6.7% to $0.9525 per share.

dividend change

60%

bearishMay 7

Significant increase in long-term debt to fund $37.5B capital plan.

dilution risk

40%

bullishMay 7

Net income increased nearly 20% year-over-year to $235.2 million.

earnings beat

70%

bullishMay 7

Proposed 2027 rate case seeks a 9.9% ROE to support massive capital expansion.

guidance raise

60%

bullishMay 7

Utility margin increased by $62.4 million driven by rate orders and VLC returns.

margin expansion

50%

neutralMay 7

Issued $300 million in long-term debt to fund capital projects.

capital raise

40%

bullishMay 7

Net income grew 11.1% year-over-year driven by Wisconsin rate orders.

earnings beat

70%

bullishMay 7

New VLC and Bespoke Resources tariffs approved to capture AI data center load.

guidance raise

80%

bullishMay 7

Quarterly dividend increased by 6.7% to $0.9525 per share.

dividend change

60%

bearishMay 7

Significant increase in long-term debt to fund $37.5B capital plan.

dilution risk

40%

bullishMay 7

Net income increased nearly 20% year-over-year to $235.2 million.

earnings beat

70%

bullishMay 7

Proposed 2027 rate case seeks a 9.9% ROE to support massive capital expansion.

guidance raise

60%

bullishMay 7

Utility margin increased by $62.4 million driven by rate orders and VLC returns.

margin expansion

50%

neutralMay 7

Issued $300 million in long-term debt to fund capital projects.

capital raise

40%

bullishMay 7

Net income grew 11.1% year-over-year driven by Wisconsin rate orders.

earnings beat

70%

bullishMay 7

New VLC and Bespoke Resources tariffs approved to capture AI data center load.

guidance raise

80%

bullishMay 7

Quarterly dividend increased by 6.7% to $0.9525 per share.

dividend change

60%

bearishMay 7

Significant increase in long-term debt to fund $37.5B capital plan.

dilution risk

40%

bullishMay 7

Net income increased nearly 20% year-over-year to $235.2 million.

earnings beat

70%

bullishMay 7

Proposed 2027 rate case seeks a 9.9% ROE to support massive capital expansion.

guidance raise

60%

bullishMay 7

Utility margin increased by $62.4 million driven by rate orders and VLC returns.

margin expansion

50%

neutralMay 7

Issued $300 million in long-term debt to fund capital projects.

capital raise

40%

bullishMay 7

Net income grew 11.1% year-over-year driven by Wisconsin rate orders.

earnings beat

70%

bullishMay 7

New VLC and Bespoke Resources tariffs approved to capture AI data center load.

guidance raise

80%

bullishMay 7

Quarterly dividend increased by 6.7% to $0.9525 per share.

dividend change

60%

bearishMay 7

Significant increase in long-term debt to fund $37.5B capital plan.

dilution risk

40%

bullishMay 7

Net income increased nearly 20% year-over-year to $235.2 million.

earnings beat

70%

bullishMay 7

Proposed 2027 rate case seeks a 9.9% ROE to support massive capital expansion.

guidance raise

60%

bullishMay 7

Utility margin increased by $62.4 million driven by rate orders and VLC returns.

margin expansion

50%

neutralMay 7

Issued $300 million in long-term debt to fund capital projects.

capital raise

40%

Filing History

10-QMay 7, 2026

The latest 10-Q paints a picture of a utility in transition, attempting to pivot from a traditional regional provider to a high-tech energy platform. The financial results are undeniably strong in the short term, with diluted EPS rising to $2.45 and a healthy dividend hike. The core tension for investors lies in the trade-off between the massive demand tailwinds from data centers and the increasing financial leverage required to meet that demand. WEC is essentially betting that the regulatory environment will remain supportive enough to allow for the full recovery of its $37.5 billion five-year capital plan. Ultimately, the filing highlights a company with exceptional market positioning but increasing balance sheet sensitivity. While the 'Very Large Customer' tariffs provide a promising blueprint for monetizing AI load, the risk of regulatory disallowances in Illinois and the burden of nearly $22 billion in total debt create a narrow margin for error. Investors must weigh the certainty of current rate-driven earnings against the speculative nature of future regulatory approvals and the potential for environmental liabilities to resurface.

10-QMay 7, 2026

The Q1 2026 filing presents a company at a critical juncture, balancing an unprecedented demand surge from the tech sector against a tightening financial squeeze. The core tension for investors lies in whether the regulatory framework can keep pace with the company's massive capital requirements. While the approval of VLC tariffs provides a promising path to monetize data center growth, the shrinking cash balance and rising debt levels suggest that the margin for error is slim. Ultimately, the investment thesis hinges on the outcome of the 2027 rate case and the finalization of the VLC orders. If the Public Service Commission of Wisconsin continues to support the company's return on equity and cost recovery targets, the massive infrastructure build-out will likely yield sustainable growth. However, any regulatory friction or a slowdown in data center deployments could quickly turn this growth story into a credit challenge, as the company's leverage remains high and its liquidity remains tight.