Equities analysts expect WEC Energy Group Inc (NYSE:WEC) to report sales of $2.26 billion for the current quarter, according to Zacks. Three analysts have made estimates for WEC Energy Group’s earnings, with the highest sales estimate coming in at $2.32 billion and the lowest estimate coming in at $2.19 billion. WEC Energy Group reported sales of $2.30 billion during the same quarter last year, which would suggest a negative year-over-year growth rate of 1.7%. The firm is expected to issue its next earnings report on Tuesday, May 1st.
According to Zacks, analysts expect that WEC Energy Group will report full year sales of $2.26 billion for the current fiscal year, with estimates ranging from $7.35 billion to $7.91 billion. For the next year, analysts expect that the firm will post sales of $7.77 billion per share, with estimates ranging from $7.39 billion to $8.10 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for WEC Energy Group.
WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Wednesday, January 31st. The utilities provider reported $0.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.03. WEC Energy Group had a return on equity of 10.81% and a net margin of 15.75%. The business had revenue of $2.06 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same quarter last year, the company posted $0.61 EPS. WEC Energy Group’s revenue for the quarter was up 4.7% on a year-over-year basis.
A number of equities analysts recently weighed in on WEC shares. Guggenheim reiterated a “buy” rating and issued a $66.00 price target on shares of WEC Energy Group in a research report on Friday, February 23rd. Zacks Investment Research upgraded WEC Energy Group from a “hold” rating to a “buy” rating and set a $74.00 price objective for the company in a research report on Saturday, January 6th. Credit Suisse Group initiated coverage on WEC Energy Group in a research report on Thursday, December 7th. They set a “neutral” rating and a $70.00 price objective for the company. Wells Fargo & Co decreased their price objective on WEC Energy Group from $73.00 to $71.00 and set a “market perform” rating for the company in a research report on Thursday, February 1st. Finally, UBS Group initiated coverage on WEC Energy Group in a research report on Friday, February 2nd. They set a “neutral” rating and a $65.00 price objective for the company. One analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $66.00.
In other WEC Energy Group news, Director Barbara L. Bowles sold 2,000 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $60.19, for a total transaction of $120,380.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.97% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. raised its stake in shares of WEC Energy Group by 2.1% during the 4th quarter. BlackRock Inc. now owns 26,807,670 shares of the utilities provider’s stock worth $1,780,834,000 after purchasing an additional 560,644 shares in the last quarter. KBC Group NV raised its stake in shares of WEC Energy Group by 11.0% during the 3rd quarter. KBC Group NV now owns 37,264 shares of the utilities provider’s stock worth $2,339,000 after purchasing an additional 3,687 shares in the last quarter. AMP Capital Investors Ltd raised its stake in shares of WEC Energy Group by 3.2% during the 3rd quarter. AMP Capital Investors Ltd now owns 160,388 shares of the utilities provider’s stock worth $10,069,000 after purchasing an additional 4,970 shares in the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new stake in shares of WEC Energy Group during the 4th quarter worth about $7,504,000. Finally, UBS Asset Management Americas Inc. raised its stake in shares of WEC Energy Group by 7.3% during the 4th quarter. UBS Asset Management Americas Inc. now owns 2,959,532 shares of the utilities provider’s stock worth $196,602,000 after purchasing an additional 201,585 shares in the last quarter. Hedge funds and other institutional investors own 72.90% of the company’s stock.
WEC Energy Group (NYSE WEC) opened at $61.97 on Friday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.57 and a quick ratio of 0.43. WEC Energy Group has a 1 year low of $58.92 and a 1 year high of $70.09. The firm has a market capitalization of $19,550.00, a price-to-earnings ratio of 19.74, a P/E/G ratio of 4.36 and a beta of 0.12.
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About WEC Energy Group
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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