WEC Energy Group, Inc. (WEC) Expected to Announce Earnings of $0.67 Per Share
Wall Street brokerages expect WEC Energy Group, Inc. (NYSE:WEC) to report earnings of $0.67 per share for the current quarter, Zacks reports. Zero analysts have issued estimates for WEC Energy Group’s earnings. WEC Energy Group reported earnings of $0.61 per share in the same quarter last year, which indicates a positive year over year growth rate of 9.8%. The company is expected to announce its next quarterly earnings report on Wednesday, February 7th.
According to Zacks, 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 $3.07 to $3.10. For the next year, analysts forecast that the company will post earnings of $3.28 per share, with EPS estimates ranging from $3.21 to $3.35. Zacks’ EPS calculations are a mean average based on a survey of research analysts that cover WEC Energy Group.
WEC Energy Group (NYSE:WEC) last posted its earnings results on Thursday, October 26th. The utilities provider reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.01. WEC Energy Group had a net margin of 12.79% and a return on equity of 10.62%. The business had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same period in the previous year, the company posted $0.69 earnings per share. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year.
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WEC Energy Group (NYSE:WEC) traded down $0.31 during midday trading on Monday, hitting $67.92. 1,976,800 shares of the stock were exchanged, compared to its average volume of 1,569,702. WEC Energy Group has a twelve month low of $54.24 and a twelve month high of $68.67. The company has a current ratio of 0.60, a quick ratio of 0.38 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $21,433.90, a PE ratio of 22.34, a P/E/G ratio of 4.27 and a beta of 0.14.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Tuesday, November 14th will be issued a $0.52 dividend. The ex-dividend date is Monday, November 13th. This represents a $2.08 annualized dividend and a yield of 3.06%. WEC Energy Group’s dividend payout ratio is presently 68.42%.
In other WEC Energy Group news, Director Gale E. Klappa sold 100,500 shares of the stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $64.42, for a total transaction of $6,474,210.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Tom Metcalfe sold 10,000 shares of the stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $64.44, for a total transaction of $644,400.00. Following the sale, the vice president now directly owns 16,059 shares in the company, valued at $1,034,841.96. The disclosure for this sale can be found here. Insiders sold 192,190 shares of company stock worth $12,435,484 over the last ninety days. 0.97% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of WEC. Wells Fargo & Company MN raised its holdings in shares of WEC Energy Group by 36.6% during the third quarter. Wells Fargo & Company MN now owns 7,366,777 shares of the utilities provider’s stock worth $462,486,000 after purchasing an additional 1,972,929 shares during the period. Principal Financial Group Inc. raised its holdings in shares of WEC Energy Group by 362.0% during the second quarter. Principal Financial Group Inc. now owns 2,195,130 shares of the utilities provider’s stock worth $134,737,000 after purchasing an additional 1,719,955 shares during the period. Janus Henderson Group PLC raised its holdings in shares of WEC Energy Group by 2,687.2% during the second quarter. Janus Henderson Group PLC now owns 1,200,291 shares of the utilities provider’s stock worth $73,674,000 after purchasing an additional 1,157,227 shares during the period. Vanguard Group Inc. raised its holdings in shares of WEC Energy Group by 2.5% during the second quarter. Vanguard Group Inc. now owns 32,962,447 shares of the utilities provider’s stock worth $2,023,235,000 after purchasing an additional 795,189 shares during the period. Finally, Ameriprise Financial Inc. raised its holdings in shares of WEC Energy Group by 28.9% during the third quarter. Ameriprise Financial Inc. now owns 2,849,244 shares of the utilities provider’s stock worth $178,873,000 after purchasing an additional 638,010 shares during the period. 70.30% of the stock is currently owned by institutional investors.
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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