WEC Energy Group Inc (NYSE:WEC) announced a quarterly dividend on Thursday, December 7th, RTT News reports. Investors of record on Wednesday, February 14th will be paid a dividend of 0.5525 per share by the utilities provider on Thursday, March 1st. This represents a $2.21 annualized dividend and a yield of 3.23%. This is a boost from WEC Energy Group’s previous quarterly dividend of $0.52.

WEC Energy Group has increased its dividend payment by an average of 11.1% annually over the last three years and has increased its dividend every year for the last 6 years. WEC Energy Group has a dividend payout ratio of 67.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect WEC Energy Group to earn $3.29 per share next year, which means the company should continue to be able to cover its $2.08 annual dividend with an expected future payout ratio of 63.2%.

Shares of WEC Energy Group (NYSE WEC) traded up $0.18 during mid-day trading on Thursday, hitting $68.42. The company’s stock had a trading volume of 1,175,900 shares, compared to its average volume of 1,643,751. 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 52 week low of $55.57 and a 52 week high of $70.09. The company has a market cap of $21,534.88, a P/E ratio of 22.45, a P/E/G ratio of 4.14 and a beta of 0.15.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data on Thursday, October 26th. The utilities provider reported $0.68 EPS for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.01. WEC Energy Group had a return on equity of 10.62% and a net margin of 12.79%. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter last year, the company earned $0.69 EPS. The company’s quarterly revenue was down 3.2% on a year-over-year basis. equities analysts expect that WEC Energy Group will post 3.09 EPS for the current year.

A number of analysts have commented on WEC shares. BidaskClub upgraded WEC Energy Group from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. Zacks Investment Research upgraded WEC Energy Group from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Friday, October 27th. KeyCorp reiterated a “hold” rating on shares of WEC Energy Group in a research report on Friday, October 20th. Credit Suisse Group started coverage on WEC Energy Group in a research report on Thursday. They issued a “neutral” rating and a $70.00 price objective for the company. Finally, Bank of America raised their price objective on WEC Energy Group from $69.00 to $71.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 15th. One 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’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $66.00.

In other news, Chairman Gale E. Klappa sold 52,722 shares of the stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $69.40, for a total value of $3,658,906.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Scott J. Lauber sold 1,240 shares of the stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $70.00, for a total value of $86,800.00. The disclosure for this sale can be found here. Corporate insiders own 0.97% of the company’s stock.

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About WEC Energy Group

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.

Dividend History for WEC Energy Group (NYSE:WEC)

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