WEC Energy Group Inc (WEC) Expected to Post Earnings of $0.65 Per Share

Wall Street analysts expect that WEC Energy Group Inc (NYSE:WEC) will announce $0.65 earnings per share for the current fiscal quarter, Zacks reports. Zero analysts have issued estimates for WEC Energy Group’s earnings. The highest EPS estimate is $0.67 and the lowest is $0.63. WEC Energy Group reported earnings per share of $0.61 during the same quarter last year, which would indicate a positive year over year growth rate of 6.6%. The company is scheduled to issue its next quarterly earnings report on Wednesday, February 7th.

On average, analysts expect that WEC Energy Group will report full-year earnings of $3.09 per share for the current fiscal year, with EPS estimates ranging from $3.06 to $3.10. For the next fiscal year, analysts forecast that the firm will report earnings of $3.28 per share, with EPS estimates ranging from $3.21 to $3.35. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that cover WEC Energy Group.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data on Thursday, October 26th. The utilities provider reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. The business had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.68 billion. WEC Energy Group had a net margin of 12.79% and a return on equity of 10.62%. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period last year, the firm posted $0.69 earnings per share.

WEC has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Monday, August 28th. Bank of America raised their target price on shares of WEC Energy Group from $69.00 to $71.00 and gave the company a “neutral” rating in a research report on Wednesday, November 15th. KeyCorp restated a “hold” rating on shares of WEC Energy Group in a research report on Friday, September 1st. Credit Suisse Group initiated coverage on shares of WEC Energy Group in a research report on Thursday, December 7th. They issued a “neutral” rating and a $70.00 target price on the stock. Finally, BidaskClub upgraded shares of WEC Energy Group from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $66.00.

WEC Energy Group (NYSE:WEC) opened at $66.13 on Wednesday. The stock has a market cap of $21,512.79, a P/E ratio of 22.42, a P/E/G ratio of 4.05 and a beta of 0.15. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.60 and a quick ratio of 0.38. WEC Energy Group has a one year low of $56.05 and a one year high of $70.09.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Wednesday, February 14th will be given a $0.5525 dividend. The ex-dividend date is Tuesday, February 13th. This represents a $2.21 dividend on an annualized basis and a yield of 3.34%. This is a positive change from WEC Energy Group’s previous quarterly dividend of $0.52. WEC Energy Group’s dividend payout ratio (DPR) is currently 68.42%.

In other news, VP Scott J. Lauber sold 1,240 shares of WEC Energy Group stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $70.00, for a total transaction of $86,800.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Gale E. Klappa sold 52,722 shares of WEC Energy Group stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $69.40, for a total transaction of $3,658,906.80. The disclosure for this sale can be found here. Company insiders own 0.97% of the company’s stock.

Large investors have recently modified their holdings of the company. Cable Hill Partners LLC lifted its holdings in shares of WEC Energy Group by 3,307.8% during the third quarter. Cable Hill Partners LLC now owns 1,738 shares of the utilities provider’s stock worth $109,000 after purchasing an additional 1,687 shares during the period. Captrust Financial Advisors acquired a new position in shares of WEC Energy Group during the second quarter worth $132,000. Sun Life Financial INC lifted its holdings in shares of WEC Energy Group by 23,010.0% during the second quarter. Sun Life Financial INC now owns 2,311 shares of the utilities provider’s stock worth $142,000 after purchasing an additional 2,301 shares during the period. Evercore Wealth Management LLC lifted its holdings in shares of WEC Energy Group by 9.4% during the second quarter. Evercore Wealth Management LLC now owns 2,325 shares of the utilities provider’s stock worth $143,000 after purchasing an additional 200 shares during the period. Finally, BB&T Investment Services Inc. acquired a new position in shares of WEC Energy Group during the second quarter worth $150,000. Institutional investors own 72.59% 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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