WEC Energy Group Inc (WEC) Expected to Announce Earnings of $1.16 Per Share

Brokerages forecast that WEC Energy Group Inc (NYSE:WEC) will announce $1.16 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for WEC Energy Group’s earnings, with estimates ranging from $1.15 to $1.16. WEC Energy Group reported earnings of $1.12 per share in the same quarter last year, which suggests a positive year over year growth rate of 3.6%. The firm is scheduled to announce its next earnings report before the market opens on Tuesday, May 1st.

On average, 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 $3.30. For the next year, analysts expect that the business will report earnings of $3.49 per share, with EPS estimates ranging from $3.45 to $3.52. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that that provide coverage for WEC Energy Group.

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WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Wednesday, January 31st. The utilities provider reported $0.71 EPS for the quarter, topping the consensus estimate of $0.68 by $0.03. The firm had revenue of $2.06 billion during the quarter, compared to analyst estimates of $1.94 billion. WEC Energy Group had a net margin of 15.75% and a return on equity of 10.81%. WEC Energy Group’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.61 EPS.

A number of research analysts have issued reports on WEC shares. Zacks Investment Research lowered shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Saturday. Guggenheim restated a “buy” rating and set a $66.00 price target on shares of WEC Energy Group in a research note on Friday, February 23rd. Credit Suisse Group restated a “neutral” rating and set a $63.00 price target (down previously from $65.00) on shares of WEC Energy Group in a research note on Friday, February 23rd. Wells Fargo cut their price target on shares of WEC Energy Group from $73.00 to $71.00 and set a “market perform” rating on the stock in a research note on Thursday, February 1st. Finally, UBS started coverage on shares of WEC Energy Group in a research note on Friday, February 2nd. They set a “neutral” rating and a $65.00 price target on the stock. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. WEC Energy Group currently has an average rating of “Hold” and an average target price of $66.00.

WEC Energy Group stock traded down $0.33 during mid-day trading on Friday, reaching $63.04. 1,633,835 shares of the company traded hands, compared to its average volume of 1,903,432. The company has a current ratio of 0.57, a quick ratio of 0.43 and a debt-to-equity ratio of 0.92. WEC Energy Group has a fifty-two week low of $58.92 and a fifty-two week high of $70.09. The firm has a market capitalization of $19,996.06, a price-to-earnings ratio of 20.08, a PEG ratio of 4.55 and a beta of 0.07.

In other news, Director Barbara L. Bowles sold 2,000 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $60.19, for a total value of $120,380.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.97% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the company. Advisory Services Network LLC increased its stake in shares of WEC Energy Group by 157.2% in the fourth quarter. Advisory Services Network LLC now owns 1,690 shares of the utilities provider’s stock worth $112,000 after acquiring an additional 1,033 shares during the period. Financial Gravity Companies Inc. acquired a new stake in shares of WEC Energy Group in the fourth quarter worth $122,000. Hanson & Doremus Investment Management acquired a new stake in shares of WEC Energy Group in the fourth quarter worth $133,000. Calton & Associates Inc. acquired a new stake in shares of WEC Energy Group in the fourth quarter worth $175,000. Finally, Crewe Advisors LLC acquired a new stake in shares of WEC Energy Group in the fourth quarter worth $193,000. Hedge funds and other institutional investors own 72.96% of the company’s stock.

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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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