WEC Energy Group, Inc. (NYSE:WEC) declared a quarterly dividend on Thursday, October 19th, RTT News reports. Investors of record on Tuesday, November 14th will be paid a dividend of 0.52 per share by the utilities provider on Friday, December 1st. This represents a $2.08 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date is Monday, November 13th.
WEC Energy Group has increased its dividend payment by an average of 11.1% annually over the last three years and has increased its dividend annually for the last 6 consecutive years. WEC Energy Group has a payout ratio of 67.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect WEC Energy Group to earn $3.28 per share next year, which means the company should continue to be able to cover its $2.08 annual dividend with an expected future payout ratio of 63.4%.
WEC Energy Group (NYSE:WEC) opened at $67.92 on Friday. The company has a market capitalization of $21,433.92, a PE ratio of 22.34, a P/E/G ratio of 4.27 and a beta of 0.14. WEC Energy Group has a 1-year low of $54.24 and a 1-year high of $68.67. The company has a quick ratio of 0.38, a current ratio of 0.60 and a debt-to-equity ratio of 0.96.
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, beating analysts’ consensus estimates of $0.67 by $0.01. The firm had revenue of $1.66 billion during 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%. WEC Energy Group’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.69 earnings per share. equities analysts forecast that WEC Energy Group will post 3.09 EPS for the current fiscal year.
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A number of research firms have commented on WEC. KeyCorp reaffirmed a “hold” rating on shares of WEC Energy Group in a report on Friday, September 1st. Zacks Investment Research raised WEC Energy Group from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Friday, October 27th. Bank of America Corporation began coverage on WEC Energy Group in a report on Tuesday, October 24th. They set a “neutral” rating and a $67.00 target price on the stock. Finally, BidaskClub raised WEC Energy Group from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $64.86.
In related news, Director Gale E. Klappa sold 12,632 shares of the firm’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $65.04, for a total value of $821,585.28. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Susan H. Martin sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $66.00, for a total value of $990,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 192,190 shares of company stock worth $12,435,484. 0.97% of the stock is currently owned by company insiders.
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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