WEC Energy Group (NYSE:WEC) Issues Earnings Results

WEC Energy Group (NYSE:WECGet Free Report) posted its quarterly earnings data on Thursday. The utilities provider reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.02, Briefing.com reports. The business had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.82 billion. WEC Energy Group had a return on equity of 12.17% and a net margin of 14.98%. The business’s revenue for the quarter was down 13.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.80 earnings per share.

WEC Energy Group Stock Performance

Shares of NYSE:WEC opened at $79.86 on Friday. The company has a market cap of $25.19 billion, a P/E ratio of 18.92, a PEG ratio of 2.77 and a beta of 0.41. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.42 and a current ratio of 0.55. WEC Energy Group has a one year low of $75.47 and a one year high of $99.26. The business’s 50-day simple moving average is $83.03 and its 200 day simple moving average is $83.78.

WEC Energy Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Wednesday, February 14th will be issued a dividend of $0.835 per share. This is an increase from WEC Energy Group’s previous quarterly dividend of $0.78. This represents a $3.34 annualized dividend and a dividend yield of 4.18%. The ex-dividend date is Tuesday, February 13th. WEC Energy Group’s dividend payout ratio (DPR) is presently 73.93%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on WEC. JPMorgan Chase & Co. lowered WEC Energy Group from a “neutral” rating to an “underweight” rating and decreased their price objective for the company from $90.00 to $84.00 in a research note on Friday. Wells Fargo & Company decreased their price target on WEC Energy Group from $93.00 to $91.00 and set an “overweight” rating on the stock in a research note on Friday. Barclays decreased their price target on WEC Energy Group from $82.00 to $79.00 and set an “underweight” rating on the stock in a research note on Monday, January 22nd. Bank of America reissued an “underperform” rating and issued a $78.00 price target (down from $84.00) on shares of WEC Energy Group in a research note on Thursday, January 4th. Finally, KeyCorp lifted their price objective on WEC Energy Group from $94.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday, January 4th. Four analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $86.92.

View Our Latest Stock Analysis on WEC

Insider Activity at WEC Energy Group

In related news, Director Ulice Payne, Jr. sold 600 shares of the firm’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $83.46, for a total transaction of $50,076.00. Following the sale, the director now directly owns 20,933 shares in the company, valued at approximately $1,747,068.18. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On WEC Energy Group

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC increased its holdings in WEC Energy Group by 1.0% during the 1st quarter. Geode Capital Management LLC now owns 6,805,548 shares of the utilities provider’s stock worth $643,696,000 after purchasing an additional 69,710 shares during the last quarter. Morgan Stanley increased its holdings in WEC Energy Group by 9.4% during the 4th quarter. Morgan Stanley now owns 3,236,416 shares of the utilities provider’s stock worth $303,446,000 after purchasing an additional 277,337 shares during the last quarter. Invesco Ltd. increased its holdings in WEC Energy Group by 3.4% during the 1st quarter. Invesco Ltd. now owns 2,505,757 shares of the utilities provider’s stock worth $250,098,000 after purchasing an additional 83,354 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of WEC Energy Group by 3.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,591,654 shares of the utilities provider’s stock valued at $158,864,000 after acquiring an additional 52,389 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of WEC Energy Group by 563.3% in the 1st quarter. Renaissance Technologies LLC now owns 1,320,077 shares of the utilities provider’s stock valued at $131,757,000 after acquiring an additional 1,121,075 shares during the last quarter. 75.75% of the stock is currently owned by hedge funds and other institutional investors.

WEC Energy Group Company Profile

(Get Free Report)

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and renewable 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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Earnings History for WEC Energy Group (NYSE:WEC)

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