Analyst Note| Andrew Bischof, CFA, CPA |
We are increasing our WEC Energy Group fair value estimate to $95 per share from $94 after the company reported second-quarter earnings of $0.91 per share, up from $0.87 in the same year-ago period. Management increased its full-year operating earnings guidance range for the second time this year, to $4.36 to $4.40 up from the previous $4.34 to $4.38 per share. Strong year-to-date results and time value appreciation led to our fair value increase. Our narrow moat and stable moat trend remain unchanged.