Brokerages Expect WEC Energy Group, Inc. (WEC) Will Post Earnings of $0.65 Per Share

Brokerages forecast that WEC Energy Group, Inc. (NYSE:WEC) will report earnings per share of $0.65 for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have made estimates for WEC Energy Group’s earnings, with the lowest EPS estimate coming in at $0.63 and the highest estimate coming in at $0.67. WEC Energy Group reported earnings of $0.61 per share during the same quarter last year, which would suggest a positive year over year growth rate of 6.6%. The business is scheduled to report its next earnings results on Wednesday, February 7th.

According to Zacks, analysts expect that WEC Energy Group will report full year earnings of $3.09 per share for the current year, with EPS estimates ranging from $3.06 to $3.10. For the next fiscal year, analysts anticipate that the firm will post earnings of $3.29 per share, with EPS estimates ranging from $3.21 to $3.35. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for WEC Energy Group.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings results on Thursday, October 26th. The utilities provider reported $0.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.01. The firm had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.68 billion. WEC Energy Group had a return on equity of 10.62% and a net margin of 12.79%. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.69 EPS.

Several equities analysts recently issued reports on WEC shares. KeyCorp restated a “hold” rating on shares of WEC Energy Group in a research report on Friday, September 1st. Bank of America Corporation boosted their price target on WEC Energy Group from $69.00 to $71.00 and gave the company a “neutral” rating in a research report on Wednesday. BidaskClub upgraded WEC Energy Group from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. Finally, Zacks Investment Research upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Monday, August 28th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $65.43.

COPYRIGHT VIOLATION NOTICE: “Brokerages Expect WEC Energy Group, Inc. (WEC) Will Post Earnings of $0.65 Per Share” was first posted by Week Herald and is owned by of Week Herald. If you are accessing this piece of content on another domain, it was illegally stolen and republished in violation of U.S. and international trademark and copyright law. The legal version of this piece of content can be viewed at https://weekherald.com/2017/12/04/brokerages-expect-wec-energy-group-inc-wec-will-post-earnings-of-0-65-per-share.html.

In other WEC Energy Group news, VP Scott J. Lauber sold 1,240 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $70.00, for a total transaction of $86,800.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Gale E. Klappa sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $64.86, for a total value of $648,600.00. The disclosure for this sale can be found here. Insiders have sold a total of 103,504 shares of company stock worth $6,980,354 in the last quarter. 0.97% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WEC. Hudock Capital Group LLC grew its holdings in shares of WEC Energy Group by 0.4% in the 2nd quarter. Hudock Capital Group LLC now owns 4,322 shares of the utilities provider’s stock worth $265,000 after acquiring an additional 17 shares during the period. Parkside Financial Bank & Trust grew its holdings in shares of WEC Energy Group by 0.6% in the 2nd quarter. Parkside Financial Bank & Trust now owns 7,483 shares of the utilities provider’s stock worth $459,000 after acquiring an additional 41 shares during the period. MAI Capital Management grew its holdings in shares of WEC Energy Group by 1.1% in the 2nd quarter. MAI Capital Management now owns 4,210 shares of the utilities provider’s stock worth $258,000 after acquiring an additional 45 shares during the period. Boston Advisors LLC grew its holdings in shares of WEC Energy Group by 0.3% in the 2nd quarter. Boston Advisors LLC now owns 14,664 shares of the utilities provider’s stock worth $900,000 after acquiring an additional 50 shares during the period. Finally, Eaton Vance Management grew its holdings in shares of WEC Energy Group by 0.5% in the 2nd quarter. Eaton Vance Management now owns 12,090 shares of the utilities provider’s stock worth $742,000 after acquiring an additional 65 shares during the period. Institutional investors own 70.30% of the company’s stock.

Shares of WEC Energy Group (NYSE WEC) traded down $0.58 during mid-day trading on Monday, reaching $68.19. The company had a trading volume of 1,102,754 shares, compared to its average volume of 1,649,273. The firm has a market cap of $21,700.00, a PE ratio of 22.87, a PEG ratio of 4.37 and a beta of 0.15. WEC Energy Group has a 1 year low of $54.96 and a 1 year high of $70.09. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.60 and a quick ratio of 0.38.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Tuesday, November 14th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 3.05%. The ex-dividend date is Monday, November 13th. WEC Energy Group’s payout ratio is 68.42%.

About WEC Energy Group

WEC Energy Group, Inc was a diversified holding company with natural gas and electric utility operations, an approximately 60% equity ownership interest in American Transmission Company LLC, and non-utility electric operations through its We Power business, as of December 31, 2016. Its segments include Wisconsin; Illinois; Other States; Electric Transmission; We Power, and Corporate and Other.

Get a free copy of the Zacks research report on WEC Energy Group (WEC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for WEC Energy Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WEC Energy Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply