Here's Why I Just Bought This High-Yield Dividend Stock

Company Overview - WEC Energy is a regulated utility providing natural gas and electric services to approximately 4.7 million customers across Wisconsin, Illinois, Michigan, and Minnesota, with a market capitalization of $26 billion [3] - As a regulated utility, WEC Energy operates under a government-granted monopoly, requiring approval for its rates and spending plans, which typically results in slow and steady performance [4] Dividend Performance - WEC Energy has a strong dividend yield of around 4%, which is near its highest levels in a decade, and has increased its dividend annually for 21 consecutive years [5][4] - The company's dividend has grown at an average annualized rate of 7% over the past three, five, and ten years, indicating solid growth for a utility [6] Investment Considerations - Rising interest rates present a challenge for WEC Energy due to its capital-intensive nature and reliance on debt, but this is not expected to be a long-term issue as regulators typically account for such factors when setting rates [8] - An adverse rate ruling in Illinois has temporarily halted work on WEC Energy's natural gas network, creating uncertainty, but a resolution is anticipated over time [9] Future Outlook - Despite current challenges, WEC Energy is viewed as having a positive future, supported by a $23.7 billion capital investment plan aimed at achieving earnings growth of 6.5% to 7% annually, with dividends expected to increase correspondingly [10]