WEC Energy Group, Inc. (NYSE:WEC) updated its third quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.63-0.67 for the period, compared to the Thomson Reuters consensus estimate of $0.72. WEC Energy Group also updated its FY17 guidance to $3.06-3.12 EPS.
A number of equities analysts have issued reports on the stock. BidaskClub raised shares of WEC Energy Group from a sell rating to a hold rating in a report on Wednesday, July 19th. Zacks Investment Research raised shares of WEC Energy Group from a sell rating to a hold rating in a report on Monday, April 3rd. Ladenburg Thalmann Financial Services lifted their price objective on shares of WEC Energy Group from $62.00 to $65.00 and gave the stock a neutral rating in a report on Friday, June 9th. Wolfe Research reaffirmed a peer perform rating on shares of WEC Energy Group in a report on Monday, April 24th. Finally, Deutsche Bank AG lifted their price objective on shares of WEC Energy Group from $60.00 to $62.00 and gave the stock a hold rating in a report on Tuesday, April 11th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. WEC Energy Group has a consensus rating of Hold and an average price target of $63.67.
WEC Energy Group, Inc. (WEC) traded down 0.14% on Friday, hitting $62.41. The stock had a trading volume of 436,909 shares. The company has a 50 day moving average price of $62.45 and a 200-day moving average price of $60.59. WEC Energy Group, Inc. has a 52-week low of $53.66 and a 52-week high of $65.63. The company has a market cap of $19.70 billion, a price-to-earnings ratio of 20.87 and a beta of 0.11.
WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Wednesday, July 26th. The utilities provider reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. WEC Energy Group had a return on equity of 10.75% and a net margin of 12.72%. The company had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter in the prior year, the firm posted $0.57 EPS. WEC Energy Group’s quarterly revenue was up 1.8% compared to the same quarter last year. On average, equities research analysts predict that WEC Energy Group, Inc. will post $3.10 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Monday, August 14th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, August 10th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.33%. WEC Energy Group’s payout ratio is currently 68.42%.
In other WEC Energy Group news, VP Susan H. Martin sold 15,470 shares of the stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $62.50, for a total transaction of $966,875.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Tom Metcalfe sold 7,935 shares of the stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $61.30, for a total value of $486,415.50. Following the transaction, the vice president now directly owns 13,994 shares of the company’s stock, valued at approximately $857,832.20. The disclosure for this sale can be found here. Insiders have sold 128,275 shares of company stock valued at $7,920,155 in the last three months. Insiders own 0.97% 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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