2024-05-06 07:45:00 ET
Summary
- WEC Energy Group is my portfolio's second-biggest utility holding.
- The electric and gas utility could be positioned to become a Dividend Aristocrat in 2028.
- Despite a dip in operating revenue, improved profitability helped WEC's diluted EPS climb higher in the first quarter.
- The company possesses an A- credit rating from S&P on a stable outlook.
- Shares of WEC Energy Group could be priced 14% below fair value.
As a dividend growth investor, I tend to balance the past with a forward-looking focus. The past can't tell an investor everything, but it could be a decent place to start.
In the case of 3M ( MMM ) which I alluded to in a recent article about Automatic Data Processing ( ADP ), there were signs the former's payout was going to be slashed....
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WEC Energy Group: A Dividend Aristocrat In The Making