Analysts expect that WEC Energy Group, Inc. (NYSE:WEC) will announce $1.64 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for WEC Energy Group’s earnings. The highest sales estimate is $1.65 billion and the lowest is $1.63 billion. WEC Energy Group reported sales of $1.55 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 5.8%. The company is expected to report its next earnings results before the market opens on Tuesday, August 3rd.
According to Zacks, analysts expect that WEC Energy Group will report full-year sales of $8.07 billion for the current fiscal year, with estimates ranging from $8.04 billion to $8.09 billion. For the next year, analysts anticipate that the company will post sales of $8.25 billion, with estimates ranging from $8.21 billion to $8.29 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that cover WEC Energy Group.
WEC Energy Group (NYSE:WEC) last released its earnings results on Sunday, May 2nd. The utilities provider reported $1.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.47 by $0.14. WEC Energy Group had a net margin of 16.08% and a return on equity of 11.83%. The company had revenue of $2.69 billion for the quarter, compared to analyst estimates of $2.22 billion. During the same period in the prior year, the firm earned $1.43 EPS. The firm’s quarterly revenue was up 27.6% on a year-over-year basis.
In other WEC Energy Group news, CEO Charles R. Matthews sold 10,580 shares of the stock in a transaction that occurred on Monday, May 10th. The shares were sold at an average price of $98.61, for a total value of $1,043,293.80. Following the completion of the sale, the chief executive officer now owns 12,786 shares of the company’s stock, valued at $1,260,827.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ulice Payne, Jr. sold 2,400 shares of the stock in a transaction that occurred on Thursday, May 13th. The shares were sold at an average price of $96.43, for a total value of $231,432.00. The disclosure for this sale can be found here. In the last three months, insiders have purchased 25 shares of company stock valued at $2,381. Corporate insiders own 0.30% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Virtus ETF Advisers LLC purchased a new position in shares of WEC Energy Group during the 1st quarter valued at approximately $1,422,000. Barclays PLC lifted its stake in WEC Energy Group by 1.7% during the first quarter. Barclays PLC now owns 405,157 shares of the utilities provider’s stock worth $37,920,000 after purchasing an additional 6,806 shares during the last quarter. N.E.W. Advisory Services LLC lifted its stake in WEC Energy Group by 9.1% during the first quarter. N.E.W. Advisory Services LLC now owns 26,652 shares of the utilities provider’s stock worth $2,488,000 after purchasing an additional 2,223 shares during the last quarter. Shell Asset Management Co. lifted its stake in WEC Energy Group by 52.6% during the first quarter. Shell Asset Management Co. now owns 147,920 shares of the utilities provider’s stock worth $13,844,000 after purchasing an additional 50,975 shares during the last quarter. Finally, Well Done LLC lifted its stake in WEC Energy Group by 8.9% during the first quarter. Well Done LLC now owns 2,498 shares of the utilities provider’s stock worth $234,000 after purchasing an additional 205 shares during the last quarter. Institutional investors own 73.82% of the company’s stock.
Shares of NYSE WEC traded up $0.50 on Monday, reaching $92.60. 10,148 shares of the company traded hands, compared to its average volume of 1,058,719. WEC Energy Group has a fifty-two week low of $80.55 and a fifty-two week high of $106.85. The firm’s 50 day moving average is $92.69. The company has a quick ratio of 0.54, a current ratio of 0.63 and a debt-to-equity ratio of 1.13. The company has a market capitalization of $29.21 billion, a PE ratio of 23.63, a PEG ratio of 3.88 and a beta of 0.18.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 1st. Investors of record on Friday, August 13th will be given a dividend of $0.6775 per share. This represents a $2.71 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date of this dividend is Thursday, August 12th. WEC Energy Group’s dividend payout ratio (DPR) is presently 71.50%.
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. The company operates through six segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure, and Corporate and Other.
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