Brokerages Expect WEC Energy Group Inc (WEC) Will Announce Earnings of $0.75 Per Share

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Analysts expect that WEC Energy Group Inc (NYSE:WEC) will post earnings of $0.75 per share for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for WEC Energy Group’s earnings, with the lowest EPS estimate coming in at $0.71 and the highest estimate coming in at $0.79. WEC Energy Group reported earnings of $0.73 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 2.7%. The firm is scheduled to issue its next quarterly earnings report on Tuesday, July 30th.

On average, analysts expect that WEC Energy Group will report full-year earnings of $3.52 per share for the current financial year, with EPS estimates ranging from $3.50 to $3.55. For the next fiscal year, analysts expect that the company will post earnings of $3.73 per share, with EPS estimates ranging from $3.70 to $3.75. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow WEC Energy Group.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data on Thursday, April 25th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.08. The firm had revenue of $2.38 billion during the quarter, compared to the consensus estimate of $2.41 billion. WEC Energy Group had a net margin of 14.03% and a return on equity of 11.06%. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period last year, the business posted $1.23 earnings per share.

WEC has been the topic of several recent research reports. Zacks Investment Research cut shares of WEC Energy Group from a “hold” rating to a “sell” rating in a report on Saturday, February 2nd. Wells Fargo & Co raised their target price on shares of WEC Energy Group from $78.00 to $81.00 and gave the stock an “outperform” rating in a report on Wednesday, February 13th. Credit Suisse Group raised their target price on shares of WEC Energy Group from $71.00 to $73.00 and gave the stock a “neutral” rating in a report on Thursday, February 14th. Argus raised their target price on shares of WEC Energy Group to $85.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. Finally, Goldman Sachs Group cut shares of WEC Energy Group from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $71.00 to $70.00 in a report on Monday, April 8th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. WEC Energy Group presently has a consensus rating of “Hold” and an average price target of $74.33.

WEC stock traded up $0.52 during mid-day trading on Friday, hitting $80.55. 1,820,761 shares of the company were exchanged, compared to its average volume of 1,372,997. WEC Energy Group has a 1-year low of $58.48 and a 1-year high of $83.01. The company has a market capitalization of $25.24 billion, a PE ratio of 23.20, a price-to-earnings-growth ratio of 3.87 and a beta of 0.15. The company has a quick ratio of 0.58, a current ratio of 0.69 and a debt-to-equity ratio of 1.02.

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 14th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Monday, May 13th. This represents a $2.36 dividend on an annualized basis and a yield of 2.93%. WEC Energy Group’s dividend payout ratio (DPR) is 70.66%.

In related news, insider Gale E. Klappa sold 71,400 shares of WEC Energy Group stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $82.35, for a total value of $5,879,790.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Scott J. Lauber sold 3,360 shares of WEC Energy Group stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $82.50, for a total transaction of $277,200.00. The disclosure for this sale can be found here. Insiders sold 485,132 shares of company stock worth $39,624,091 over the last three months. 0.75% of the stock is currently owned by insiders.

Large investors have recently made changes to their positions in the stock. Marshall Wace North America L.P. bought a new stake in shares of WEC Energy Group during the first quarter worth $290,000. Rehmann Capital Advisory Group grew its stake in shares of WEC Energy Group by 175.6% during the first quarter. Rehmann Capital Advisory Group now owns 2,875 shares of the utilities provider’s stock worth $227,000 after buying an additional 1,832 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of WEC Energy Group by 3.7% during the first quarter. Nordea Investment Management AB now owns 447,295 shares of the utilities provider’s stock worth $35,373,000 after buying an additional 15,782 shares during the last quarter. M Holdings Securities Inc. grew its stake in shares of WEC Energy Group by 574.7% during the first quarter. M Holdings Securities Inc. now owns 27,001 shares of the utilities provider’s stock worth $2,135,000 after buying an additional 22,999 shares during the last quarter. Finally, Horizon Investments LLC grew its stake in shares of WEC Energy Group by 34.1% during the first quarter. Horizon Investments LLC now owns 17,576 shares of the utilities provider’s stock worth $1,390,000 after buying an additional 4,465 shares during the last quarter. 74.96% of the stock is currently owned by institutional investors and hedge funds.

About WEC Energy Group

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and nonregulated renewable energy services in the United States. The company operates through six segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure, and Corporate and Other.

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