WEC Energy Group, Inc. (NYSE:WEC) updated its FY17 earnings guidance on Wednesday. The company provided earnings per share guidance of $3.06-3.12 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.10. WEC Energy Group also updated its Q3 guidance to $0.63-0.67 EPS.
A number of equities analysts recently issued reports on the stock. Zacks Investment Research raised shares of WEC Energy Group from a sell rating to a hold rating in a research note on Monday, April 10th. Ladenburg Thalmann Financial Services raised their price target on shares of WEC Energy Group from $62.00 to $65.00 and gave the company a neutral rating in a research report on Friday, June 9th. BidaskClub downgraded shares of WEC Energy Group from a hold rating to a sell rating in a research report on Saturday, July 1st. Barclays PLC reissued an equal weight rating and set a $68.00 price target (up previously from $61.00) on shares of WEC Energy Group in a research report on Sunday, April 23rd. Finally, Wolfe Research restated a peer perform rating on shares of WEC Energy Group in a report on Monday, April 24th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $62.86.
WEC Energy Group, Inc. (WEC) traded down 0.03% on Friday, hitting $64.09. 1,128,982 shares of the company were exchanged. WEC Energy Group, Inc. has a 52 week low of $53.66 and a 52 week high of $64.65. The firm’s 50 day moving average is $62.43 and its 200 day moving average is $60.72. The company has a market capitalization of $20.23 billion, a P/E ratio of 21.01 and a beta of 0.11.
WEC Energy Group (NYSE:WEC) last posted its earnings results on Wednesday, July 26th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.05. The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.58 billion. WEC Energy Group had a net margin of 12.72% and a return on equity of 10.75%. The company’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.57 EPS. On average, equities research analysts forecast that WEC Energy Group, Inc. will post $3.11 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Monday, August 14th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date of this dividend is Thursday, August 10th. WEC Energy Group’s dividend payout ratio (DPR) is presently 68.42%.
In other WEC Energy Group news, 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 completion of the sale, the vice president now owns 13,994 shares of the company’s stock, valued at $857,832.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Susan H. Martin sold 15,470 shares of the stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $62.50, for a total transaction of $966,875.00. The disclosure for this sale can be found here. 0.97% of the stock is currently owned by corporate insiders.
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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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