Intrinsic value of WEC Energy Group - WEC

Previous Close

$67.49

  Intrinsic Value

$24.55

stock screener

  Rating & Target

str. sell

-64%

Previous close

$67.49

 
Intrinsic value

$24.55

 
Up/down potential

-64%

 
Rating

str. sell

We calculate the intrinsic value of WEC stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 21.3

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  2.50
  2.75
  2.97
  3.18
  3.36
  3.52
  3.67
  3.80
  3.92
  4.03
  4.13
  4.22
  4.29
  4.36
  4.43
  4.49
  4.54
  4.58
  4.62
  4.66
  4.70
  4.73
  4.75
  4.78
  4.80
  4.82
  4.84
  4.85
  4.87
  4.88
Revenue, $m
  7,840
  8,055
  8,295
  8,559
  8,846
  9,158
  9,494
  9,855
  10,242
  10,655
  11,095
  11,562
  12,059
  12,585
  13,142
  13,732
  14,355
  15,013
  15,707
  16,439
  17,211
  18,025
  18,882
  19,784
  20,734
  21,733
  22,785
  23,891
  25,054
  26,277
Variable operating expenses, $m
  3,238
  3,319
  3,408
  3,507
  3,614
  3,731
  3,857
  3,992
  4,137
  4,291
  4,150
  4,325
  4,511
  4,708
  4,916
  5,137
  5,370
  5,616
  5,876
  6,150
  6,438
  6,743
  7,063
  7,401
  7,756
  8,130
  8,523
  8,937
  9,372
  9,830
Fixed operating expenses, $m
  2,819
  2,881
  2,944
  3,009
  3,075
  3,143
  3,212
  3,282
  3,355
  3,428
  3,504
  3,581
  3,660
  3,740
  3,823
  3,907
  3,993
  4,080
  4,170
  4,262
  4,356
  4,452
  4,550
  4,650
  4,752
  4,856
  4,963
  5,072
  5,184
  5,298
Total operating expenses, $m
  6,057
  6,200
  6,352
  6,516
  6,689
  6,874
  7,069
  7,274
  7,492
  7,719
  7,654
  7,906
  8,171
  8,448
  8,739
  9,044
  9,363
  9,696
  10,046
  10,412
  10,794
  11,195
  11,613
  12,051
  12,508
  12,986
  13,486
  14,009
  14,556
  15,128
Operating income, $m
  1,783
  1,856
  1,943
  2,043
  2,157
  2,284
  2,425
  2,581
  2,751
  2,935
  3,440
  3,656
  3,888
  4,137
  4,404
  4,688
  4,992
  5,316
  5,661
  6,028
  6,417
  6,831
  7,269
  7,734
  8,226
  8,747
  9,298
  9,881
  10,498
  11,149
EBITDA, $m
  2,853
  2,947
  3,057
  3,183
  3,325
  3,483
  3,657
  3,847
  4,055
  4,280
  4,523
  4,784
  5,064
  5,365
  5,685
  6,028
  6,393
  6,781
  7,193
  7,631
  8,096
  8,589
  9,111
  9,663
  10,248
  10,867
  11,521
  12,212
  12,942
  13,713
Interest expense (income), $m
  412
  596
  625
  659
  696
  738
  783
  831
  884
  940
  1,001
  1,065
  1,134
  1,207
  1,284
  1,367
  1,454
  1,546
  1,643
  1,746
  1,854
  1,969
  2,089
  2,216
  2,350
  2,491
  2,639
  2,796
  2,960
  3,133
  3,314
Earnings before tax, $m
  1,187
  1,231
  1,284
  1,346
  1,419
  1,501
  1,594
  1,697
  1,810
  1,935
  2,375
  2,522
  2,681
  2,853
  3,037
  3,235
  3,447
  3,673
  3,915
  4,174
  4,449
  4,741
  5,053
  5,384
  5,735
  6,107
  6,503
  6,922
  7,365
  7,835
Tax expense, $m
  321
  332
  347
  364
  383
  405
  430
  458
  489
  522
  641
  681
  724
  770
  820
  873
  931
  992
  1,057
  1,127
  1,201
  1,280
  1,364
  1,454
  1,548
  1,649
  1,756
  1,869
  1,989
  2,116
Net income, $m
  867
  898
  937
  983
  1,036
  1,096
  1,164
  1,239
  1,322
  1,412
  1,734
  1,841
  1,957
  2,082
  2,217
  2,361
  2,516
  2,682
  2,858
  3,047
  3,247
  3,461
  3,688
  3,930
  4,186
  4,458
  4,747
  5,053
  5,377
  5,720

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  32,396
  33,286
  34,277
  35,366
  36,554
  37,842
  39,231
  40,724
  42,322
  44,028
  45,846
  47,778
  49,830
  52,005
  54,307
  56,743
  59,318
  62,036
  64,905
  67,931
  71,121
  74,483
  78,024
  81,752
  85,676
  89,806
  94,152
  98,722
  103,529
  108,584
Adjusted assets (=assets-cash), $m
  32,396
  33,286
  34,277
  35,366
  36,554
  37,842
  39,231
  40,724
  42,322
  44,028
  45,846
  47,778
  49,830
  52,005
  54,307
  56,743
  59,318
  62,036
  64,905
  67,931
  71,121
  74,483
  78,024
  81,752
  85,676
  89,806
  94,152
  98,722
  103,529
  108,584
Revenue / Adjusted assets
  0.242
  0.242
  0.242
  0.242
  0.242
  0.242
  0.242
  0.242
  0.242
  0.242
  0.242
  0.242
  0.242
  0.242
  0.242
  0.242
  0.242
  0.242
  0.242
  0.242
  0.242
  0.242
  0.242
  0.242
  0.242
  0.242
  0.242
  0.242
  0.242
  0.242
Average production assets, $m
  22,712
  23,336
  24,030
  24,794
  25,627
  26,530
  27,504
  28,550
  29,671
  30,867
  32,141
  33,496
  34,934
  36,459
  38,074
  39,781
  41,586
  43,492
  45,503
  47,625
  49,861
  52,218
  54,700
  57,314
  60,066
  62,961
  66,007
  69,212
  72,582
  76,125
Working capital, $m
  604
  620
  639
  659
  681
  705
  731
  759
  789
  820
  854
  890
  929
  969
  1,012
  1,057
  1,105
  1,156
  1,209
  1,266
  1,325
  1,388
  1,454
  1,523
  1,596
  1,673
  1,754
  1,840
  1,929
  2,023
Total debt, $m
  11,581
  12,205
  12,898
  13,660
  14,492
  15,394
  16,366
  17,411
  18,529
  19,724
  20,996
  22,349
  23,785
  25,307
  26,919
  28,624
  30,426
  32,329
  34,338
  36,456
  38,689
  41,042
  43,521
  46,131
  48,878
  51,769
  54,810
  58,010
  61,375
  64,913
Total liabilities, $m
  22,677
  23,300
  23,994
  24,756
  25,588
  26,489
  27,462
  28,507
  29,625
  30,820
  32,092
  33,445
  34,881
  36,403
  38,015
  39,720
  41,522
  43,425
  45,434
  47,552
  49,785
  52,138
  54,616
  57,226
  59,974
  62,865
  65,906
  69,106
  72,471
  76,009
Total equity, $m
  9,719
  9,986
  10,283
  10,610
  10,966
  11,353
  11,769
  12,217
  12,697
  13,208
  13,754
  14,333
  14,949
  15,601
  16,292
  17,023
  17,795
  18,611
  19,472
  20,379
  21,336
  22,345
  23,407
  24,526
  25,703
  26,942
  28,246
  29,617
  31,059
  32,575
Total liabilities and equity, $m
  32,396
  33,286
  34,277
  35,366
  36,554
  37,842
  39,231
  40,724
  42,322
  44,028
  45,846
  47,778
  49,830
  52,004
  54,307
  56,743
  59,317
  62,036
  64,906
  67,931
  71,121
  74,483
  78,023
  81,752
  85,677
  89,807
  94,152
  98,723
  103,530
  108,584
Debt-to-equity ratio
  1.190
  1.220
  1.250
  1.290
  1.320
  1.360
  1.390
  1.430
  1.460
  1.490
  1.530
  1.560
  1.590
  1.620
  1.650
  1.680
  1.710
  1.740
  1.760
  1.790
  1.810
  1.840
  1.860
  1.880
  1.900
  1.920
  1.940
  1.960
  1.980
  1.990
Adjusted equity ratio
  0.300
  0.300
  0.300
  0.300
  0.300
  0.300
  0.300
  0.300
  0.300
  0.300
  0.300
  0.300
  0.300
  0.300
  0.300
  0.300
  0.300
  0.300
  0.300
  0.300
  0.300
  0.300
  0.300
  0.300
  0.300
  0.300
  0.300
  0.300
  0.300
  0.300

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  867
  898
  937
  983
  1,036
  1,096
  1,164
  1,239
  1,322
  1,412
  1,734
  1,841
  1,957
  2,082
  2,217
  2,361
  2,516
  2,682
  2,858
  3,047
  3,247
  3,461
  3,688
  3,930
  4,186
  4,458
  4,747
  5,053
  5,377
  5,720
Depreciation, amort., depletion, $m
  1,070
  1,091
  1,114
  1,140
  1,168
  1,199
  1,231
  1,267
  1,304
  1,345
  1,082
  1,128
  1,176
  1,228
  1,282
  1,339
  1,400
  1,464
  1,532
  1,604
  1,679
  1,758
  1,842
  1,930
  2,022
  2,120
  2,222
  2,330
  2,444
  2,563
Funds from operations, $m
  1,937
  1,989
  2,051
  2,123
  2,204
  2,295
  2,395
  2,505
  2,626
  2,757
  2,816
  2,969
  3,134
  3,310
  3,499
  3,701
  3,916
  4,146
  4,390
  4,650
  4,926
  5,219
  5,530
  5,860
  6,209
  6,578
  6,969
  7,383
  7,821
  8,283
Change in working capital, $m
  15
  17
  18
  20
  22
  24
  26
  28
  30
  32
  34
  36
  38
  41
  43
  45
  48
  51
  53
  56
  59
  63
  66
  69
  73
  77
  81
  85
  90
  94
Cash from operations, $m
  1,922
  1,973
  2,033
  2,103
  2,182
  2,271
  2,369
  2,478
  2,596
  2,725
  2,782
  2,933
  3,095
  3,269
  3,456
  3,655
  3,868
  4,095
  4,337
  4,594
  4,867
  5,157
  5,464
  5,790
  6,136
  6,501
  6,888
  7,298
  7,731
  8,189
Maintenance CAPEX, $m
  -746
  -765
  -786
  -809
  -835
  -863
  -893
  -926
  -961
  -999
  -1,039
  -1,082
  -1,128
  -1,176
  -1,228
  -1,282
  -1,339
  -1,400
  -1,464
  -1,532
  -1,604
  -1,679
  -1,758
  -1,842
  -1,930
  -2,022
  -2,120
  -2,222
  -2,330
  -2,444
New CAPEX, $m
  -555
  -625
  -694
  -764
  -833
  -903
  -974
  -1,046
  -1,120
  -1,196
  -1,274
  -1,355
  -1,438
  -1,525
  -1,614
  -1,708
  -1,805
  -1,906
  -2,011
  -2,121
  -2,236
  -2,357
  -2,482
  -2,614
  -2,751
  -2,895
  -3,046
  -3,204
  -3,370
  -3,544
Cash from investing activities, $m
  -1,301
  -1,390
  -1,480
  -1,573
  -1,668
  -1,766
  -1,867
  -1,972
  -2,081
  -2,195
  -2,313
  -2,437
  -2,566
  -2,701
  -2,842
  -2,990
  -3,144
  -3,306
  -3,475
  -3,653
  -3,840
  -4,036
  -4,240
  -4,456
  -4,681
  -4,917
  -5,166
  -5,426
  -5,700
  -5,988
Free cash flow, $m
  621
  584
  553
  530
  514
  505
  502
  505
  515
  530
  469
  496
  529
  568
  614
  666
  724
  789
  861
  940
  1,027
  1,121
  1,224
  1,335
  1,454
  1,584
  1,722
  1,871
  2,031
  2,201
Issuance/(repayment) of debt, $m
  548
  624
  693
  762
  832
  902
  973
  1,045
  1,119
  1,194
  1,272
  1,353
  1,436
  1,522
  1,612
  1,705
  1,802
  1,903
  2,008
  2,118
  2,233
  2,353
  2,479
  2,610
  2,747
  2,891
  3,042
  3,200
  3,365
  3,538
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  548
  624
  693
  762
  832
  902
  973
  1,045
  1,119
  1,194
  1,272
  1,353
  1,436
  1,522
  1,612
  1,705
  1,802
  1,903
  2,008
  2,118
  2,233
  2,353
  2,479
  2,610
  2,747
  2,891
  3,042
  3,200
  3,365
  3,538
Total cash flow (excl. dividends), $m
  1,168
  1,207
  1,246
  1,292
  1,346
  1,406
  1,474
  1,550
  1,633
  1,724
  1,741
  1,849
  1,965
  2,091
  2,226
  2,371
  2,526
  2,692
  2,869
  3,058
  3,260
  3,474
  3,702
  3,944
  4,202
  4,475
  4,764
  5,071
  5,395
  5,739
Retained Cash Flow (-), $m
  -257
  -267
  -297
  -327
  -356
  -386
  -417
  -448
  -479
  -512
  -545
  -580
  -615
  -652
  -691
  -731
  -772
  -816
  -861
  -908
  -957
  -1,008
  -1,062
  -1,118
  -1,177
  -1,239
  -1,304
  -1,371
  -1,442
  -1,516
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  911
  940
  949
  966
  989
  1,020
  1,058
  1,102
  1,154
  1,212
  1,196
  1,269
  1,350
  1,438
  1,535
  1,640
  1,754
  1,877
  2,009
  2,151
  2,303
  2,466
  2,640
  2,826
  3,024
  3,236
  3,460
  3,699
  3,953
  4,223
Discount rate, %
  8.10
  8.51
  8.93
  9.38
  9.85
  10.34
  10.85
  11.40
  11.97
  12.57
  13.19
  13.85
  14.55
  15.27
  16.04
  16.84
  17.68
  18.57
  19.49
  20.47
  21.49
  22.57
  23.69
  24.88
  26.12
  27.43
  28.80
  30.24
  31.75
  33.34
PV of cash for distribution, $m
  843
  798
  734
  675
  619
  565
  514
  465
  417
  371
  306
  267
  231
  197
  165
  136
  110
  88
  68
  52
  39
  28
  20
  14
  9
  6
  4
  2
  1
  1
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

WEC Energy Group, Inc. was a diversified holding company with natural gas and electric utility operations, an approximately 60% equity ownership interest in American Transmission Company LLC, and non-utility electric operations through its We Power business, as of December 31, 2016. Its segments include Wisconsin; Illinois; Other States; Electric Transmission; We Power, and Corporate and Other. Wisconsin includes the electric and natural gas utility operations of Wisconsin Electric Power Company, Wisconsin Gas LLC, and Wisconsin Public Service Corporation, including WE's and WPS's electric and natural gas operations in the state of Michigan. Illinois includes the natural gas utility and non-utility operations of The Peoples Gas Light and Coke Company and North Shore Gas Company. Other states includes the natural gas utility and non-utility operations of Minnesota Energy Resources Corporation and Michigan Gas Utilities Corporation.

FINANCIAL RATIOS  of  WEC Energy Group (WEC)

Valuation Ratios
P/E Ratio 22.7
Price to Sales 2.9
Price to Book 2.4
Price to Tangible Book
Price to Cash Flow 10.1
Price to Free Cash Flow 31.3
Growth Rates
Sales Growth Rate 26.1%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 12.5%
Cap. Spend. - 3 Yr. Gr. Rate 15.7%
Financial Strength
Quick Ratio 0
Current Ratio 0
LT Debt to Equity 102.2%
Total Debt to Equity 113.6%
Interest Coverage 5
Management Effectiveness
Return On Assets 4%
Ret/ On Assets - 3 Yr. Avg. 4.3%
Return On Total Capital 4.9%
Ret/ On T. Cap. - 3 Yr. Avg. 5.2%
Return On Equity 10.7%
Return On Equity - 3 Yr. Avg. 11.3%
Asset Turnover 0.3
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin 35.9%
EBITDA Margin - 3 Yr. Avg. 33.9%
Operating Margin 22.5%
Oper. Margin - 3 Yr. Avg. 22%
Pre-Tax Margin 20.2%
Pre-Tax Margin - 3 Yr. Avg. 19.1%
Net Profit Margin 12.6%
Net Profit Margin - 3 Yr. Avg. 11.7%
Effective Tax Rate 37.6%
Eff/ Tax Rate - 3 Yr. Avg. 38.7%
Payout Ratio 66.5%

WEC stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the WEC stock intrinsic value calculation we used $7648.5 million for the last fiscal year's total revenue generated by WEC Energy Group. The default revenue input number comes from 0001 income statement of WEC Energy Group. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our WEC stock valuation model: a) initial revenue growth rate of 2.5% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 8.1%, whose default value for WEC is calculated based on our internal credit rating of WEC Energy Group, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of WEC Energy Group.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of WEC stock the variable cost ratio is equal to 41.4%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $2758 million in the base year in the intrinsic value calculation for WEC stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for WEC Energy Group.

Corporate tax rate of 27% is the nominal tax rate for WEC Energy Group. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the WEC stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for WEC are equal to 289.7%.

Life of production assets of 29.7 years is the average useful life of capital assets used in WEC Energy Group operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for WEC is equal to 7.7%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $9461.4 million for WEC Energy Group - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 315.533 million for WEC Energy Group is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of WEC Energy Group at the current share price and the inputted number of shares is $21.3 billion.

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COMPANY NEWS

▶ Allen Leverett resigns executive post at WEC Energy; new president named   [Oct-09-18 04:59PM  American City Business Journals]
▶ Does WEC Energy Group Incs (NYSE:WEC) PE Ratio Warrant A Buy?   [Sep-23-18 10:09AM  Simply Wall St.]
▶ WEC Energy Group Inc to Host Earnings Call   [Jul-31-18 12:00PM  ACCESSWIRE]
▶ WEC Energy: 2Q Earnings Snapshot   [07:19AM  Associated Press]
▶ Wisconsin Electric declares quarterly dividends   [Jul-19-18 03:09PM  PR Newswire]
▶ May Dividend Stocks To Look Out For   [May-16-18 09:02AM  Simply Wall St.]
▶ Electric substation proposed in Robert Joseph's 3rd Ward apartments would cost $101M   [May-11-18 11:54AM  American City Business Journals]
▶ We Energies will spend $140M on Foxconn-related projects: Klappa   [May-03-18 05:39PM  American City Business Journals]
▶ Klappa discusses WEC Energy succession plan if Leverett doesn't return   [May-02-18 03:31PM  American City Business Journals]
▶ WEC Energy Group posts first-quarter results   [May-01-18 07:00AM  PR Newswire]
▶ Wisconsin Electric declares quarterly dividends   [Apr-19-18 02:05PM  PR Newswire]
▶ Business, consumer groups oppose We Energies' plans for $185M in tax cuts   [Mar-01-18 10:00AM  American City Business Journals]
▶ WEC Energy beats 4Q profit forecasts   [07:19AM  Associated Press]
▶ Wisconsin Electric declares quarterly dividends   [Jan-22-18 02:08PM  PR Newswire]
▶ WEC Energy Group raises quarterly dividend   [Jan-18-18 01:24PM  PR Newswire]
▶ Farrow elected to WEC Energy Group board of directors   [Dec-07-17 04:34PM  PR Newswire]
▶ WEC Energy Earns Technical Rating Upgrade   [03:00AM  Investor's Business Daily]
▶ Top Dividend Stocks For The Week   [Nov-04-17 09:02AM  Simply Wall St.]
▶ Wisconsin Electric declares quarterly dividends   [Oct-31-17 04:00PM  PR Newswire]
▶ Puerto Rico to scrap controversial $300M energy contract   [Oct-30-17 10:42AM  Yahoo Finance Video]
▶ WEC Energy beats 3Q profit forecasts   [07:45AM  Associated Press]
▶ WEC Energy Group declares quarterly dividend   [Oct-19-17 01:34PM  PR Newswire]
▶ A statement from WEC Energy Group   [Oct-12-17 05:22PM  PR Newswire]
▶ When Should You Buy WEC Energy Group Inc (WEC)?   [Oct-02-17 10:22AM  Simply Wall St.]

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