WEC Energy shareholders vote on key proposals

In a recent SEC filing, WEC Energy Group (NYSE:WEC), Inc. disclosed the results of its annual shareholder meeting held on May 8, 2025. The Milwaukee-based electric services company, currently valued at $33.2 billion, presented six proposals for shareholder voting. According to InvestingPro data, WEC has demonstrated strong market performance with a 12.59% year-to-date return, though analysis suggests the stock is currently trading above its Fair Value.

The first proposal, concerning the election of thirteen directors for terms expiring in 2026, saw all nominees elected with a significant majority of votes. Each nominee received over 200 million votes in favor, with broker non-votes consistently around 33 million for each candidate. The company’s strong governance track record is complemented by its impressive dividend history, having maintained dividend payments for 55 consecutive years with 21 years of consecutive raises.

Proposal 2, the ratification of Deloitte & Touche LLP as the company’s independent auditors for 2025, was approved with over 269 million votes in favor, 12 million against, and about 1 million abstentions.

The third proposal, an advisory vote to approve the compensation of named executive officers, also passed. It received over 231 million votes for, nearly 17 million against, and about 1.9 million abstentions, with broker non-votes again totaling approximately 33 million.

Proposals 4 and 5, amendments to eliminate supermajority voting requirements from the company’s Restated Articles of Incorporation and Bylaws, respectively, were approved. Both received over 240 million votes in favor, with about 3.5 million against and 1.5 million abstentions.

The final proposal, a stockholder proposal to support a simple majority vote, did not pass. It received 101 million votes for, approximately 146 million against, and 2 million abstentions, with the same number of broker non-votes as the previous proposals.

The filing, which provided a detailed account of the voting results, ensures that WEC Energy Group’s shareholders are informed of the outcomes of the meeting’s agenda items. This information is based on the company’s 8-K filing with the SEC. For investors seeking deeper insights, InvestingPro offers a comprehensive Pro Research Report on WEC Energy Group, one of 1,400+ US stocks covered with detailed analysis and actionable intelligence.

In other recent news, WEC Energy Group reported robust financial results for the first quarter of 2025, with earnings per share (EPS) of $2.27, surpassing forecasts of $1.97. The company’s revenue also exceeded expectations, reaching $3.15 billion against a projected $2.87 billion. Analysts at Scotiabank (TSX:BNS) responded positively to these results, raising their price target for WEC Energy Group to $115 while maintaining a Sector Outperform rating. This optimism is driven by WEC Energy’s potential for above-average earnings and dividend growth, as well as its strategic investments in renewable energy projects.

In addition to financial performance, WEC Energy Group announced executive changes, appointing Michael Hooper as Executive Vice President and Chief Operating Officer. Hooper will continue to serve as President of the Wisconsin Utilities and take on leadership roles in other subsidiaries. The company also reported the departure of Curt Culver from its Board of Directors due to retirement age, with immediate vesting of unvested shares approved in recognition of his service.

WEC Energy Group’s strategic focus on renewable energy and infrastructure investments continues to drive its growth trajectory. The company reaffirmed its 2025 earnings guidance, projecting EPS between $5.17 and $5.27. Additionally, significant investments in renewable energy projects, such as the Darien Solar project, are underway to bolster future performance. These developments reflect WEC Energy’s commitment to strengthening its leadership and aligning compensation with operational goals.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.