Overview
- Reported 2025 operating EPS of $7.36, exceeding the high end of guidance, on $1.5 billion in operating earnings.
- Issued 2026 operating EPS guidance of $7.59–$7.73, with management pointing to the high end supported by RNG tax credits and utility investments.
- Raised the five‑year capital plan by $6.5 billion to $36.5 billion following MPSC approval of a 1.4 GW data‑center deal, and said talks for more than 3 GW could push 2027–2030 EPS growth above 8%.
- Added 330 MW of solar for roughly 2,500 MW of renewables now online, targeting about 900 MW per year, and delivered its best all‑weather reliability in nearly two decades.
- Outlined $500–$600 million in annual equity issuance to keep FFO‑to‑debt near 15%, as analysts maintain a Moderate Buy consensus with a mean price target around $148.