WEC Energy Group, Inc. (WEC) Expected to Post Earnings of $0.68 Per Share
Equities analysts expect WEC Energy Group, Inc. (NYSE:WEC) to post $0.68 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Zero analysts have made estimates for WEC Energy Group’s earnings, with the lowest EPS estimate coming in at $0.65 and the highest estimate coming in at $0.70. WEC Energy Group posted earnings of $0.69 per share during the same quarter last year, which would suggest a negative year over year growth rate of 1.4%. The company is scheduled to report its next earnings report before the market opens on Wednesday, October 25th.
According to Zacks, analysts expect that WEC Energy Group will report full-year earnings of $3.10 per share for the current financial year, with EPS estimates ranging from $3.10 to $3.11. For the next financial year, analysts anticipate that the business will post earnings of $3.28 per share, with EPS estimates ranging from $3.25 to $3.30. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow WEC Energy Group.
WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Wednesday, July 26th. The utilities provider reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.58 billion. WEC Energy Group had a net margin of 12.72% and a return on equity of 10.75%. WEC Energy Group’s revenue was up 1.8% compared to the same quarter last year. During the same period last year, the business earned $0.57 EPS.
WEC has been the subject of a number of recent research reports. KeyCorp reiterated a “hold” rating on shares of WEC Energy Group in a report on Friday, September 1st. Goldman Sachs Group, Inc. (The) restated a “sell” rating and set a $58.00 price objective (down previously from $59.00) on shares of WEC Energy Group in a report on Monday, June 26th. BidaskClub downgraded shares of WEC Energy Group from a “hold” rating to a “sell” rating in a report on Saturday, July 1st. Finally, Zacks Investment Research upgraded shares of WEC Energy Group from a “sell” rating to a “hold” rating in a report on Monday, August 28th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. WEC Energy Group has a consensus rating of “Hold” and a consensus price target of $62.50.
Shares of WEC Energy Group (WEC) opened at 66.80 on Tuesday. The firm’s 50-day moving average is $64.95 and its 200-day moving average is $63.10. WEC Energy Group has a 1-year low of $53.66 and a 1-year high of $67.20. The company has a market capitalization of $21.08 billion, a price-to-earnings ratio of 21.90 and a beta of 0.12.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Tuesday, November 14th will be given a $0.52 dividend. The ex-dividend date of this dividend is Monday, November 13th. This represents a $2.08 dividend on an annualized basis and a yield of 3.11%. WEC Energy Group’s dividend payout ratio is currently 68.42%.
In related news, VP Susan H. Martin sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $66.00, for a total value of $990,000.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Gale E. Klappa sold 100,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $64.42, for a total value of $6,474,210.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 192,190 shares of company stock worth $12,435,484. 0.97% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in WEC Energy Group by 2.5% in the second quarter. Vanguard Group Inc. now owns 32,962,447 shares of the utilities provider’s stock valued at $2,023,235,000 after buying an additional 795,189 shares during the last quarter. BlackRock Inc. boosted its position in WEC Energy Group by 0.3% in the second quarter. BlackRock Inc. now owns 25,921,375 shares of the utilities provider’s stock valued at $1,591,055,000 after buying an additional 82,376 shares during the last quarter. State Street Corp boosted its position in WEC Energy Group by 1.2% in the first quarter. State Street Corp now owns 16,286,113 shares of the utilities provider’s stock valued at $987,428,000 after buying an additional 200,586 shares during the last quarter. Epoch Investment Partners Inc. boosted its position in WEC Energy Group by 8.6% in the second quarter. Epoch Investment Partners Inc. now owns 6,212,698 shares of the utilities provider’s stock valued at $381,336,000 after buying an additional 492,379 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in WEC Energy Group by 1.8% in the second quarter. JPMorgan Chase & Co. now owns 5,762,776 shares of the utilities provider’s stock valued at $353,718,000 after buying an additional 103,009 shares during the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.
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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