Brokerages predict that WEC Energy Group Inc (NYSE:WEC) will post earnings of $0.65 per share for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for WEC Energy Group’s earnings, with the lowest EPS estimate coming in at $0.65 and the highest estimate coming in at $0.66. WEC Energy Group posted earnings of $0.63 per share during the same quarter last year, which suggests a positive year over year growth rate of 3.2%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, July 25th.
According to Zacks, analysts expect that WEC Energy Group will report full-year earnings of $3.30 per share for the current financial year, with EPS estimates ranging from $3.28 to $3.32. For the next fiscal year, analysts anticipate that the business will report earnings of $3.50 per share, with EPS estimates ranging from $3.45 to $3.52. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that cover WEC Energy Group.
WEC Energy Group (NYSE:WEC) last announced its quarterly earnings results on Tuesday, May 1st. The utilities provider reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.06. WEC Energy Group had a return on equity of 11.01% and a net margin of 16.23%. The company had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.33 billion. During the same period in the prior year, the company earned $1.12 earnings per share. The firm’s revenue was down .8% on a year-over-year basis.
Several research firms have commented on WEC. ValuEngine upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a report on Wednesday, June 20th. Zacks Investment Research cut WEC Energy Group from a “buy” rating to a “hold” rating in a research report on Wednesday, June 20th. Credit Suisse Group raised their price objective on WEC Energy Group from $65.00 to $67.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 2nd. Bank of America upgraded WEC Energy Group from a “neutral” rating to a “buy” rating in a research note on Friday, June 1st. Finally, Citigroup started coverage on WEC Energy Group in a research note on Friday, April 13th. They issued a “neutral” rating and a $61.00 target price for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. WEC Energy Group currently has an average rating of “Hold” and an average price target of $66.13.
In related news, Director Ulice Payne, Jr. sold 1,600 shares of WEC Energy Group stock in a transaction dated Friday, May 4th. The stock was sold at an average price of $64.45, for a total value of $103,120.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.97% of the company’s stock.
Several institutional investors have recently modified their holdings of WEC. Dynamic Technology Lab Private Ltd acquired a new position in WEC Energy Group in the first quarter valued at approximately $1,325,000. Suntrust Banks Inc. lifted its holdings in WEC Energy Group by 17.7% in the first quarter. Suntrust Banks Inc. now owns 54,858 shares of the utilities provider’s stock valued at $3,439,000 after acquiring an additional 8,267 shares during the last quarter. Trilogy Capital Inc. acquired a new position in WEC Energy Group in the first quarter valued at approximately $671,000. Financial Gravity Wealth Inc. acquired a new position in WEC Energy Group in the first quarter valued at approximately $153,000. Finally, Principal Financial Group Inc. lifted its holdings in WEC Energy Group by 1.7% in the first quarter. Principal Financial Group Inc. now owns 2,348,999 shares of the utilities provider’s stock valued at $147,282,000 after acquiring an additional 39,316 shares during the last quarter. Institutional investors and hedge funds own 72.96% of the company’s stock.
Shares of WEC Energy Group opened at $62.29 on Monday, according to Marketbeat Ratings. The company has a current ratio of 0.55, a quick ratio of 0.45 and a debt-to-equity ratio of 0.89. WEC Energy Group has a fifty-two week low of $58.48 and a fifty-two week high of $70.09. The company has a market capitalization of $19.57 billion, a PE ratio of 19.84, a price-to-earnings-growth ratio of 4.55 and a beta of 0.08.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 1st. Investors of record on Monday, May 14th were issued a $0.5525 dividend. This represents a $2.21 annualized dividend and a yield of 3.55%. The ex-dividend date of this dividend was Friday, May 11th. WEC Energy Group’s payout ratio is 70.38%.
About WEC Energy Group
WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and nonregulated renewable energy services in the United States. The company operates through six segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure, and Corporate and Other.
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