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Holly LaFon
Holly LaFon
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Mario Gabelli Comments on WEC Energy Group Inc.

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February 04, 2019 | About:
WEC Energy Group Inc. (NYSE:WEC) (2.1%) (WEC – $69.26 – NYSE) is based in Milwaukee, Wisconsin. Following Wisconsin Energy Company’s mid-2015 acquisition of Integrys Energy Group, the combined company’s assets include Wisconsin Electric, the state’s largest electric utility, with over 1.1 million electric customers and 1.1 million gas customers in southeastern, east central, and northern Wisconsin, and 400,000 electric customers and 1.7 million gas customers in Illinois, Michigan, Minnesota, and Wisconsin. WEC is a well-managed, high quality, traditional utility operating in a constructive regulatory environment. Management forecasts the combined company growth rate at 5%-7% over the long term. The company recently established a non-regulated infrastructure subsidiary to invest in wind, solar and gas storage projects. Additionally, WEC has a 60% ownership stake in the American Transmission Corp., which provides another investment opportunity as well as financial engineering optionality.

From Mario Gabelli (Trades, Portfolio)'s Gabelli Utilities Fund fourth-quarter 2018 commentary.

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Holly LaFon
I'm a financial journalist with a Master of Science in journalism from Medill at Northwestern University.

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