WEC Energy Group (NYSE:WEC) Releases FY19 Earnings Guidance

WEC Energy Group (NYSE:WEC) issued an update on its FY19 earnings guidance on Monday morning. The company provided earnings per share guidance of $3.50-3.53 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.51. WEC Energy Group also updated its FY 2019 guidance to $3.50-3.53 EPS.

WEC Energy Group stock opened at $87.40 on Monday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.58 and a current ratio of 0.69. The firm has a market capitalization of $27.30 billion, a price-to-earnings ratio of 26.17, a price-to-earnings-growth ratio of 4.20 and a beta of 0.11. WEC Energy Group has a 1 year low of $64.96 and a 1 year high of $87.93. The business has a 50 day simple moving average of $85.34.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Monday, August 5th. The utilities provider reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.04. WEC Energy Group had a net margin of 14.03% and a return on equity of 11.06%. The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same quarter last year, the business posted $0.73 EPS. The company’s revenue was down 4.9% on a year-over-year basis. Analysts predict that WEC Energy Group will post 3.5 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Wednesday, August 14th will be paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date is Tuesday, August 13th. WEC Energy Group’s dividend payout ratio (DPR) is currently 70.66%.

WEC has been the subject of a number of research reports. Wolfe Research set a $77.00 target price on shares of WEC Energy Group and gave the company a sell rating in a research note on Friday, April 26th. Bank of America lowered shares of WEC Energy Group from a neutral rating to an underperform rating and lifted their target price for the company from $82.00 to $85.00 in a research note on Monday, June 24th. Scotiabank lowered shares of WEC Energy Group from an outperform rating to a sector perform rating and lifted their target price for the company from $76.00 to $78.00 in a research note on Wednesday, May 8th. Goldman Sachs Group lowered shares of WEC Energy Group from a neutral rating to a sell rating and decreased their target price for the company from $71.00 to $70.00 in a research note on Monday, April 8th. Finally, KeyCorp initiated coverage on shares of WEC Energy Group in a research note on Tuesday, June 4th. They set a sector weight rating for the company. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $75.75.

In related news, insider Gale E. Klappa sold 71,400 shares of WEC Energy Group stock in a transaction on Friday, May 24th. The shares were sold at an average price of $82.35, for a total value of $5,879,790.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Allen L. Leverett sold 100,000 shares of WEC Energy Group stock in a transaction on Friday, May 24th. The stock was sold at an average price of $82.49, for a total transaction of $8,249,000.00. Following the completion of the transaction, the director now owns 131,281 shares in the company, valued at approximately $10,829,369.69. The disclosure for this sale can be found here. Insiders have sold a total of 466,976 shares of company stock worth $38,238,654 in the last 90 days. 0.75% of the stock is owned by insiders.

WEC Energy Group Company Profile

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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