Wisconsin Energy Corp. (WEC, Financial) filed Quarterly Report for the period ended 2010-06-30.
Wisconsin Energy Corp. has a market cap of $6.41 billion; its shares were traded at around $54.83 with a P/E ratio of 17.9 and P/S ratio of 1.6. The dividend yield of Wisconsin Energy Corp. stocks is 2.9%. Wisconsin Energy Corp. had an annual average earning growth of 2.2% over the past 10 years. GuruFocus rated Wisconsin Energy Corp. the business predictability rank of 3-star.WEC is in the portfolios of HOTCHKIS & WILEY of HOTCHKIS & WILEY Capital Management LLC, Louis Moore Bacon of Moore Capital Management, LP, Columbia Wanger of Columbia Wanger Asset Management, Paul Tudor Jones of The Tudor Group, John Keeley of Keeley Fund Management, Steven Cohen of SAC Capital Advisors, George Soros of Soros Fund Management LLC, Dodge & Cox.
Net pricing increases totaling $30.8 million related to Wisconsin and Michigan rate orders that became effective in 2010. For information on these rate orders, see Factors Affecting Results, Liquidity and Capital Resources -- Utility Rates and Regulatory Matters. Favorable weather that increased electric revenues by an estimated $19.4 million as compared to the second quarter of 2009. Net economic growth that increased electric revenues by an estimated $12.7 million as compared to the second quarter of 2009. 2010 pricing increases totaling approximately $7.9 million, reflecting the reduction of Point Beach bill credits to retail customers. As measured by cooling degree days, the second quarter of 2010 was 55.2% warmer than the same period in 2009 and 22.4% warmer than normal. Collectively, retail sales to our residential and small commercial and industrial customers, who are more weather sensitive, increased by 3.3%. Sales to our large commercial and industrial customers increased by 14.3% during the second quarter of 2010 as compared to the same period in 2009 primarily because of an improving economy. Electric sales to our largest customers, two iron ore mines, which represent approximately 6.5% of our annual sales, increased significantly for the quarter. If these sales are excluded, sales to our large commercial and industrial customers increased by 7.1% for the second quarter of 2010 as compared to the second quarter of 2009. The $19.4 million decline in Other Operating Revenues primarily relates to regulatory amortizations during the second quarter of 2010 as compared to the same period in 2009, and a one-time entry in the second quarter of 2009 related to the expected recovery of MISO costs.
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Wisconsin Energy Corp. has a market cap of $6.41 billion; its shares were traded at around $54.83 with a P/E ratio of 17.9 and P/S ratio of 1.6. The dividend yield of Wisconsin Energy Corp. stocks is 2.9%. Wisconsin Energy Corp. had an annual average earning growth of 2.2% over the past 10 years. GuruFocus rated Wisconsin Energy Corp. the business predictability rank of 3-star.WEC is in the portfolios of HOTCHKIS & WILEY of HOTCHKIS & WILEY Capital Management LLC, Louis Moore Bacon of Moore Capital Management, LP, Columbia Wanger of Columbia Wanger Asset Management, Paul Tudor Jones of The Tudor Group, John Keeley of Keeley Fund Management, Steven Cohen of SAC Capital Advisors, George Soros of Soros Fund Management LLC, Dodge & Cox.
Highlight of Business Operations:
Our utility energy segment contributed $97.8 million of operating income during the second quarter of 2010, an increase of $8.4 million, or 9.4%, compared with the second quarter of 2009. The following table summarizes the operating income of this segment between the comparative quarters:Net pricing increases totaling $30.8 million related to Wisconsin and Michigan rate orders that became effective in 2010. For information on these rate orders, see Factors Affecting Results, Liquidity and Capital Resources -- Utility Rates and Regulatory Matters. Favorable weather that increased electric revenues by an estimated $19.4 million as compared to the second quarter of 2009. Net economic growth that increased electric revenues by an estimated $12.7 million as compared to the second quarter of 2009. 2010 pricing increases totaling approximately $7.9 million, reflecting the reduction of Point Beach bill credits to retail customers. As measured by cooling degree days, the second quarter of 2010 was 55.2% warmer than the same period in 2009 and 22.4% warmer than normal. Collectively, retail sales to our residential and small commercial and industrial customers, who are more weather sensitive, increased by 3.3%. Sales to our large commercial and industrial customers increased by 14.3% during the second quarter of 2010 as compared to the same period in 2009 primarily because of an improving economy. Electric sales to our largest customers, two iron ore mines, which represent approximately 6.5% of our annual sales, increased significantly for the quarter. If these sales are excluded, sales to our large commercial and industrial customers increased by 7.1% for the second quarter of 2010 as compared to the second quarter of 2009. The $19.4 million decline in Other Operating Revenues primarily relates to regulatory amortizations during the second quarter of 2010 as compared to the same period in 2009, and a one-time entry in the second quarter of 2009 related to the expected recovery of MISO costs.
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