WEC Energy Group (WEC) Updates FY 2018 Earnings Guidance

WEC Energy Group (NYSE:WEC) updated its FY 2018 earnings guidance on Wednesday. The company provided earnings per share guidance of $3.32-3.32 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.33. WEC Energy Group also updated its FY18 guidance to $3.32 EPS.

A number of brokerages recently commented on WEC. Wolfe Research downgraded shares of WEC Energy Group from a market perform rating to a sell rating in a research note on Friday, October 26th. ValuEngine raised shares of WEC Energy Group from a hold rating to a buy rating in a report on Friday, October 19th. Zacks Investment Research raised shares of WEC Energy Group from a hold rating to a buy rating and set a $77.00 price target on the stock in a report on Wednesday, October 17th. Citigroup set a $66.00 price target on shares of WEC Energy Group and gave the stock a neutral rating in a report on Wednesday, October 3rd. Finally, Wells Fargo & Co lifted their price target on shares of WEC Energy Group from $71.00 to $75.00 and gave the stock an outperform rating in a report on Monday, September 17th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $70.00.

NYSE:WEC traded down $1.35 during mid-day trading on Wednesday, hitting $68.40. The company’s stock had a trading volume of 3,722,900 shares, compared to its average volume of 1,887,514. WEC Energy Group has a 1 year low of $58.48 and a 1 year high of $72.09. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.44 and a current ratio of 0.59. The firm has a market cap of $21.74 billion, a price-to-earnings ratio of 21.78, a PEG ratio of 4.78 and a beta of 0.02.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings results on Wednesday, October 31st. The utilities provider reported $0.74 EPS for the quarter, beating the consensus estimate of $0.71 by $0.03. WEC Energy Group had a net margin of 16.56% and a return on equity of 11.18%. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same period in the prior year, the company earned $0.68 earnings per share. The firm’s revenue was down .8% on a year-over-year basis. As a group, equities research analysts predict that WEC Energy Group will post 3.33 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, December 1st. Shareholders of record on Wednesday, November 14th will be given a $0.5525 dividend. The ex-dividend date is Tuesday, November 13th. This represents a $2.21 dividend on an annualized basis and a dividend yield of 3.23%. WEC Energy Group’s dividend payout ratio (DPR) is currently 70.38%.

In other WEC Energy Group news, Director Barbara L. Bowles sold 2,500 shares of the company’s stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $66.45, for a total value of $166,125.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Frederick D. Kuester sold 168,790 shares of the company’s stock in a transaction dated Thursday, August 9th. The stock was sold at an average price of $66.94, for a total transaction of $11,298,802.60. The disclosure for this sale can be found here. Corporate insiders own 0.94% of the company’s stock.

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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