WEC Energy Group, Inc. (NYSE:WEC) Updates FY17 Earnings Guidance

WEC Energy Group, Inc. (NYSE:WEC) issued an update on its FY17 earnings guidance on Thursday morning. The company provided earnings per share guidance of $3.06 to $3.12 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.10.

WEC Energy Group, Inc. (NYSE:WEC) opened at $67.92 on Friday. The company has a quick ratio of 0.38, a current ratio of 0.60 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $21,531.73, a P/E ratio of 22.44, a P/E/G ratio of 4.29 and a beta of 0.14. WEC Energy Group, Inc. has a one year low of $54.24 and a one year high of $68.67.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings results on Thursday, October 26th. The utilities provider reported $0.68 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.01. The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.68 billion. WEC Energy Group had a return on equity of 10.62% and a net margin of 12.79%. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.69 EPS. research analysts predict that WEC Energy Group, Inc. will post 3.09 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Tuesday, November 14th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date is Monday, November 13th. WEC Energy Group’s dividend payout ratio is presently 68.42%.

A number of analysts have recently issued reports on WEC shares. KeyCorp restated a hold rating on shares of WEC Energy Group in a research report on Friday, September 1st. BidaskClub raised WEC Energy Group from a hold rating to a buy rating in a research note on Tuesday, August 22nd. Bank of America Corporation assumed coverage on WEC Energy Group in a research note on Tuesday, October 24th. They issued a neutral rating and a $67.00 price target on the stock. Finally, Zacks Investment Research raised WEC Energy Group from a sell rating to a hold rating in a research note on Monday, August 28th. One analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. The stock has an average rating of Hold and an average target price of $64.86.

In other WEC Energy Group news, VP Susan H. Martin sold 15,000 shares of the stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $66.00, for a total value of $990,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gale E. Klappa sold 100,500 shares of the stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $64.42, for a total value of $6,474,210.00. The disclosure for this sale can be found here. Insiders sold 192,190 shares of company stock valued at $12,435,484 in the last quarter. 0.97% of the stock is currently owned by corporate insiders.

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WEC Energy Group Company Profile

WEC Energy Group, Inc was a diversified holding company with natural gas and electric utility operations, an approximately 60% equity ownership interest in American Transmission Company LLC, and non-utility electric operations through its We Power business, as of December 31, 2016. Its segments include Wisconsin; Illinois; Other States; Electric Transmission; We Power, and Corporate and Other.

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