WEC Energy Group (WEC) Updates FY18 Earnings Guidance

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

Several equities analysts have commented on the company. Wolfe Research downgraded WEC Energy Group from a market perform rating to a sell rating in a research report on Friday, October 26th. Barclays began coverage on WEC Energy Group in a research report on Tuesday, July 10th. They set an equal weight rating and a $71.00 price target on the stock. ValuEngine raised WEC Energy Group from a hold rating to a buy rating in a research report on Friday, October 19th. Citigroup increased their price target on WEC Energy Group from $61.00 to $63.00 and gave the stock a hold rating in a research report on Tuesday, July 10th. Finally, Zacks Investment Research raised WEC Energy Group from a hold rating to a buy rating and set a $77.00 price target on the stock in a research report on Wednesday, October 17th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $70.00.

Shares of WEC stock opened at $69.75 on Wednesday. WEC Energy Group has a 1-year low of $58.48 and a 1-year high of $72.09. The stock has a market cap of $21.74 billion, a P/E ratio of 22.21, a P/E/G ratio of 4.78 and a beta of 0.02. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.44 and a current ratio of 0.59.



WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data on Wednesday, October 31st. The utilities provider reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.03. WEC Energy Group had a return on equity of 11.18% and a net margin of 16.56%. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter last year, the company earned $0.68 earnings per share. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. On average, equities analysts anticipate that WEC Energy Group will post 3.33 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, December 1st. Investors of record on Wednesday, November 14th will be given a dividend of $0.5525 per share. This represents a $2.21 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date is Tuesday, November 13th. WEC Energy Group’s payout ratio is currently 70.38%.

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

WEC Energy Group Company Profile

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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