Wisconsin Energy Corp. (WEC) Announces Quarterly Earnings Results, Beats Estimates By $0.05 EPS
Wisconsin Energy Corp. (NYSE:WEC) posted its quarterly earnings results on Thursday. The company reported $0.63 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.58 by $0.05, AmericanBankingNews.com reports. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.10 billion.
In other Wisconsin Energy Corp. news, VP Susan Martin sold 5,000 shares of the stock on the open market in a transaction dated Monday, February 3rd. The shares were sold at an average price of $42.80, for a total value of $214,000.00. Following the sale, the vice president now directly owns 5,571 shares in the company, valued at approximately $238,439. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of analysts have recently weighed in on WEC shares. Analysts at Zacks upgraded shares of Wisconsin Energy Corp. from a “neutral” rating to an “outperform” rating in a research note to investors on Tuesday, January 14th. They now have a $49.00 price target on the stock. On a related note, analysts at Barclays downgraded shares of Wisconsin Energy Corp. from an “overweight” rating to an “equal weight” rating in a research note to investors on Monday, January 6th. They now have a $42.00 price target on the stock, down previously from $46.00. Finally, analysts at Deutsche Bank reiterated a “hold” rating on shares of Wisconsin Energy Corp. in a research note to investors on Wednesday, December 11th. They now have a $43.00 price target on the stock, up previously from $42.00. Ten analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Wisconsin Energy Corp. has an average rating of “Hold” and a consensus target price of $44.70.
Shares of Wisconsin Energy Corp. (NYSE:WEC) opened at 41.99 on Thursday. Wisconsin Energy Corp. has a 52 week low of $39.04 and a 52 week high of $45.00. The stock has a 50-day moving average of $41.36 and a 200-day moving average of $41.50. The company has a market cap of $9.512 billion and a P/E ratio of 18.27.
The company also recently announced a quarterly dividend, which is scheduled for Saturday, March 1st. Investors of record on Friday, February 14th will be paid a dividend of 0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 3.72%. The ex-dividend date is Wednesday, February 12th. This is an increase from Wisconsin Energy Corp.’s previous quarterly dividend of $0.38.
Wisconsin Energy Corporation is a diversified holding company. The Company operates primarily through two segments: a utility energy segment and a non-utility energy segment.
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