Q2 2024 EPS Estimates for WEC Energy Group, Inc. (NYSE:WEC) Decreased by Zacks Research

WEC Energy Group, Inc. (NYSE:WEC) – Research analysts at Zacks Research reduced their Q2 2024 earnings estimates for shares of WEC Energy Group in a research note issued to investors on Thursday, April 25th. Zacks Research analyst R. Department now expects that the utilities provider will earn $0.93 per share for the quarter, down from their previous forecast of $0.96. The consensus estimate for WEC Energy Group’s current full-year earnings is $4.87 per share. Zacks Research also issued estimates for WEC Energy Group’s Q3 2024 earnings at $1.03 EPS, Q4 2024 earnings at $1.06 EPS, FY2024 earnings at $4.86 EPS, Q1 2025 earnings at $2.04 EPS, Q4 2025 earnings at $1.41 EPS, FY2025 earnings at $5.22 EPS, Q1 2026 earnings at $2.01 EPS and FY2026 earnings at $5.60 EPS.

Other equities analysts have also recently issued reports about the stock. JPMorgan Chase & Co. cut shares of WEC Energy Group from a “neutral” rating to an “underweight” rating and dropped their price objective for the company from $90.00 to $84.00 in a research note on Friday, February 2nd. Wells Fargo & Company lowered their price target on shares of WEC Energy Group from $93.00 to $91.00 and set an “overweight” rating on the stock in a research note on Friday, February 2nd. Scotiabank lowered their price target on shares of WEC Energy Group from $96.00 to $90.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 22nd. The Goldman Sachs Group started coverage on shares of WEC Energy Group in a research note on Wednesday, April 10th. They set a “neutral” rating and a $88.00 price target on the stock. Finally, Barclays lowered their price target on shares of WEC Energy Group from $79.00 to $75.00 and set an “underweight” rating on the stock in a research note on Thursday, February 8th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $86.64.

WEC Energy Group Stock Performance

Shares of WEC opened at $81.49 on Friday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.40 and a current ratio of 0.55. The stock has a market capitalization of $25.70 billion, a P/E ratio of 19.31, a P/E/G ratio of 2.87 and a beta of 0.40. The company’s fifty day moving average is $80.25 and its two-hundred day moving average is $81.42. WEC Energy Group has a 1 year low of $75.13 and a 1 year high of $97.34.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data on Thursday, February 1st. The utilities provider reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.02. The company had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.82 billion. WEC Energy Group had a net margin of 14.98% and a return on equity of 12.17%. WEC Energy Group’s revenue was down 13.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.80 EPS.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC purchased a new position in shares of WEC Energy Group during the 1st quarter worth about $25,000. Northwest Bank & Trust Co purchased a new position in shares of WEC Energy Group during the 4th quarter worth about $25,000. Tennessee Valley Asset Management Partners purchased a new position in shares of WEC Energy Group during the 4th quarter worth about $26,000. Valued Wealth Advisors LLC purchased a new position in shares of WEC Energy Group during the 4th quarter worth about $28,000. Finally, First United Bank & Trust purchased a new position in shares of WEC Energy Group during the 4th quarter worth about $30,000. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at WEC Energy Group

In related news, CEO Scott J. Lauber sold 2,830 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $78.89, for a total value of $223,258.70. Following the sale, the chief executive officer now directly owns 43,125 shares of the company’s stock, valued at approximately $3,402,131.25. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other WEC Energy Group news, Chairman Gale E. Klappa sold 37,180 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $78.69, for a total value of $2,925,694.20. Following the transaction, the chairman now directly owns 274,782 shares in the company, valued at approximately $21,622,595.58. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Scott J. Lauber sold 2,830 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $78.89, for a total transaction of $223,258.70. Following the completion of the transaction, the chief executive officer now owns 43,125 shares in the company, valued at $3,402,131.25. The disclosure for this sale can be found here. 0.34% of the stock is owned by corporate insiders.

WEC Energy Group Dividend Announcement

The firm 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 $0.835 dividend. The ex-dividend date is Monday, May 13th. This represents a $3.34 dividend on an annualized basis and a yield of 4.10%. WEC Energy Group’s payout ratio is 79.15%.

WEC Energy Group Company Profile

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