Analysts expect WEC Energy Group, Inc. (NYSE:WEC) to announce $0.69 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Zero analysts have provided estimates for WEC Energy Group’s earnings, with estimates ranging from $0.65 to $0.73. WEC Energy Group also posted earnings of $0.69 per share in the same quarter last year. The company is scheduled to report its next earnings report on Wednesday, October 25th.
On average, analysts expect that WEC Energy Group will report full year earnings of $3.10 per share for the current year, with EPS estimates ranging from $3.10 to $3.11. For the next fiscal year, analysts anticipate that the company will report earnings of $3.28 per share, with EPS estimates ranging from $3.19 to $3.35. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that cover WEC Energy Group.
WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Wednesday, July 26th. The utilities provider reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.05. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.58 billion. WEC Energy Group had a net margin of 12.72% and a return on equity of 10.75%. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.57 EPS.
A number of equities analysts have recently commented on WEC shares. Barclays PLC reissued an “equal weight” rating and issued a $68.00 target price (up previously from $61.00) on shares of WEC Energy Group in a research note on Sunday, April 23rd. Goldman Sachs Group, Inc. (The) reissued a “sell” rating and issued a $58.00 target price (down previously from $59.00) on shares of WEC Energy Group in a research note on Monday, June 26th. Zacks Investment Research raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Thursday, June 22nd. BidaskClub downgraded shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Saturday, July 1st. Finally, Wolfe Research reissued a “peer perform” rating on shares of WEC Energy Group in a research note on Monday, April 24th. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $62.86.
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In other WEC Energy Group news, VP Susan H. Martin sold 15,470 shares of the firm’s stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $62.50, for a total transaction of $966,875.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.97% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Captrust Financial Advisors bought a new position in shares of WEC Energy Group during the second quarter valued at $132,000. Bridgewater Associates LP bought a new position in shares of WEC Energy Group during the second quarter valued at $456,000. SVA Plumb Wealth Management LLC raised its position in shares of WEC Energy Group by 20.6% in the second quarter. SVA Plumb Wealth Management LLC now owns 4,461 shares of the utilities provider’s stock valued at $274,000 after buying an additional 761 shares in the last quarter. Summit Global Investments raised its position in shares of WEC Energy Group by 4.7% in the second quarter. Summit Global Investments now owns 45,384 shares of the utilities provider’s stock valued at $2,786,000 after buying an additional 2,034 shares in the last quarter. Finally, Coastline Trust Co raised its position in shares of WEC Energy Group by 3.8% in the second quarter. Coastline Trust Co now owns 9,633 shares of the utilities provider’s stock valued at $591,000 after buying an additional 354 shares in the last quarter. 70.72% of the stock is owned by institutional investors.
WEC Energy Group (NYSE:WEC) traded up 1.11% during mid-day trading on Thursday, reaching $64.66. 3,496,715 shares of the company traded hands. The stock has a market capitalization of $20.41 billion, a PE ratio of 21.20 and a beta of 0.11. WEC Energy Group has a 52-week low of $53.66 and a 52-week high of $64.94. The stock has a 50-day moving average of $62.49 and a 200 day moving average of $60.92.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Monday, August 14th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date is Thursday, August 10th. WEC Energy Group’s payout ratio is 68.42%.
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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