Brokerages Expect WEC Energy Group, Inc. (NYSE:WEC) Will Announce Earnings of $1.40 Per Share


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Equities analysts forecast that WEC Energy Group, Inc. (NYSE:WEC) will post earnings of $1.40 per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for WEC Energy Group’s earnings. The highest EPS estimate is $1.47 and the lowest is $1.25. WEC Energy Group reported earnings per share of $1.43 during the same quarter last year, which would suggest a negative year-over-year growth rate of 2.1%. The business is scheduled to announce its next earnings report before the market opens on Monday, May 3rd.

On average, analysts expect that WEC Energy Group will report full-year earnings of $4.02 per share for the current year, with EPS estimates ranging from $4.00 to $4.02. For the next year, analysts expect that the company will report earnings of $4.29 per share, with EPS estimates ranging from $4.25 to $4.31. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that follow WEC Energy Group.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data on Thursday, February 4th. The utilities provider reported $0.76 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.03. The firm had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $2.10 billion. WEC Energy Group had a return on equity of 11.36% and a net margin of 16.26%. WEC Energy Group’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.77 earnings per share.

A number of brokerages have recently weighed in on WEC. Wells Fargo & Company upgraded WEC Energy Group from an “equal weight” rating to an “overweight” rating and dropped their price target for the stock from $94.00 to $93.00 in a research report on Wednesday, March 10th. Mizuho began coverage on WEC Energy Group in a research report on Wednesday. They set a “neutral” rating and a $94.00 price target on the stock. Finally, Barclays upgraded WEC Energy Group from an “underweight” rating to an “equal weight” rating and set a $107.00 price target on the stock in a research report on Wednesday, January 13th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. WEC Energy Group has a consensus rating of “Hold” and a consensus price target of $94.08.

Shares of WEC Energy Group stock opened at $96.96 on Wednesday. The company has a current ratio of 0.49, a quick ratio of 0.36 and a debt-to-equity ratio of 1.02. The business’s 50 day simple moving average is $89.36 and its 200-day simple moving average is $92.38. The stock has a market capitalization of $30.58 billion, a price-to-earnings ratio of 26.21, a PEG ratio of 4.51 and a beta of 0.18. WEC Energy Group has a twelve month low of $80.55 and a twelve month high of $106.85.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 1st. Stockholders of record on Friday, May 14th will be paid a dividend of $0.6775 per share. This represents a $2.71 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend is Thursday, May 13th. WEC Energy Group’s dividend payout ratio is presently 75.70%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. CX Institutional boosted its stake in shares of WEC Energy Group by 26.9% during the 1st quarter. CX Institutional now owns 524 shares of the utilities provider’s stock worth $49,000 after acquiring an additional 111 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in shares of WEC Energy Group by 0.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 32,082 shares of the utilities provider’s stock valued at $2,953,000 after purchasing an additional 119 shares in the last quarter. Almanack Investment Partners LLC. lifted its holdings in shares of WEC Energy Group by 2.6% in the fourth quarter. Almanack Investment Partners LLC. now owns 4,783 shares of the utilities provider’s stock valued at $440,000 after purchasing an additional 120 shares in the last quarter. Stock Yards Bank & Trust Co. lifted its holdings in shares of WEC Energy Group by 1.0% in the fourth quarter. Stock Yards Bank & Trust Co. now owns 12,788 shares of the utilities provider’s stock valued at $1,176,000 after purchasing an additional 125 shares in the last quarter. Finally, First Midwest Bank Trust Division lifted its holdings in shares of WEC Energy Group by 0.8% in the first quarter. First Midwest Bank Trust Division now owns 15,227 shares of the utilities provider’s stock valued at $1,425,000 after purchasing an additional 125 shares in the last quarter. 73.05% of the stock is owned by institutional investors and hedge funds.

WEC Energy Group Company Profile

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and renewable 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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