Regulated utilities have long been a core staple in dividend portfolios, courtesy of their high-yields, safe payouts, slow but steady dividend growth, and very low volatility.
But while most people focus on the biggest and well-known names in the sector, such as Duke Energy (DUK), Southern Company (SO), and Consolidated Edison (ED), there are a select few faster growing, less known gems hidden in this otherwise boring industry.
Let’s examine one such name, WEC Energy Group (WEC), to see if this fast growing utility has what it takes to be one of the top dividend growth performers in this steady, defensive industry.
Corsair Capital, the event-driven long-short equity hedge fund, gained 6.6% net during the second quarter, bringing its year-to-date performance to 17.5%. Q2 2021 hedge fund letters, conferences and more According to a copy of the hedge fund's second-quarter letter to investors, a copy of which of ValueWalk has been able to review, the largest contributor Read More
More importantly find out whether or not now could be the right time to add one of America’s best utilities to your own dividend growth portfolio. WEC Energy is a company I am watching closely for our Conservative Retirees dividend portfolio.
Originally founded in 1896 as The Milwaukee Electric Railway and Light Company, WEC Energy Group has grown through six major acquisitions over the past 120 years to become one of the nation’s largest electric and natural gas utilities.
After the last (and largest) merger, the $9.1 billion purchase of Integrys Energy Corp, which transformed it into the Midwest’s largest regulated utility and the 15th largest diversified utility in America, the company changed its name to Wisconsin Energy Corp (now WEC Energy Group).
Today the company operates through seven major subsidiaries: We Energies, Wisconsin Public Service, Peoples Gas, North Shore Gas, Minnesota Energy Resources, Michigan Gas Utilities, and Upper Michigan Energy Resources.