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

WEC Energy Group, Inc. (NYSE:WEC) – Investment analysts at Zacks Research cut their Q2 2024 earnings per share estimates for shares of WEC Energy Group in a research note issued on Thursday, April 25th. Zacks Research analyst R. Department now expects that the utilities provider will post earnings of $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 research analysts have also issued reports about the company. Royal Bank of Canada reduced their target price on WEC Energy Group from $95.00 to $90.00 and set a “sector perform” rating for the company in a report on Thursday, February 8th. Bank of America restated an “underperform” rating and issued a $78.00 target price (down from $84.00) on shares of WEC Energy Group in a report on Thursday, January 4th. The Goldman Sachs Group started coverage on WEC Energy Group in a report on Wednesday, April 10th. They issued a “neutral” rating and a $88.00 target price for the company. Scotiabank dropped their price target on WEC Energy Group from $96.00 to $90.00 and set a “sector outperform” rating on the stock in a research report on Monday, April 22nd. Finally, Wells Fargo & Company dropped their price target on WEC Energy Group from $93.00 to $91.00 and set an “overweight” rating on the stock in a research report on Friday, February 2nd. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $86.64.

WEC Energy Group Stock Down 1.6 %

WEC opened at $81.49 on Friday. The business has a 50 day moving average price of $80.25 and a 200 day moving average price of $81.42. WEC Energy Group has a twelve month low of $75.13 and a twelve month high of $97.34. 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 firm has a market cap of $25.70 billion, a P/E ratio of 19.31, a price-to-earnings-growth ratio of 2.87 and a beta of 0.40.

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

WEC Energy Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Tuesday, May 14th will be given a dividend of $0.835 per share. This represents a $3.34 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date is Monday, May 13th. WEC Energy Group’s dividend payout ratio is presently 79.15%.

Insider Activity

In other news, Chairman Gale E. Klappa sold 37,180 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $78.69, for a total transaction of $2,925,694.20. Following the sale, the chairman now directly owns 274,782 shares in the company, valued at $21,622,595.58. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Chairman Gale E. Klappa sold 37,180 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $78.69, for a total transaction of $2,925,694.20. Following the sale, the chairman now directly owns 274,782 shares in the company, valued at $21,622,595.58. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Scott J. Lauber sold 2,830 shares of the business’s stock in a transaction that occurred on 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 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 currently owned by company insiders.

Institutional Trading of WEC Energy Group

Large investors have recently bought and sold shares of the stock. Opal Wealth Advisors LLC bought a new stake in WEC Energy Group in the first quarter valued at $25,000. Northwest Bank & Trust Co bought a new stake in WEC Energy Group in the fourth quarter valued at $25,000. Tennessee Valley Asset Management Partners bought a new stake in WEC Energy Group in the fourth quarter valued at $26,000. Valued Wealth Advisors LLC bought a new stake in WEC Energy Group in the fourth quarter valued at $28,000. Finally, First United Bank & Trust bought a new stake in WEC Energy Group in the fourth quarter valued at $30,000. 77.20% of the stock is currently owned by institutional investors.

About WEC Energy Group

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.