WEC Energy Group (WEC) Releases Earnings Results, Beats Estimates By $0.03 EPS

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WEC Energy Group (NYSE:WEC) announced its earnings results on Wednesday. The utilities provider reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.03, MarketWatch Earnings reports. The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.66 billion. WEC Energy Group had a net margin of 16.56% and a return on equity of 11.18%. The company’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the previous year, the company posted $0.68 EPS. WEC Energy Group updated its FY18 guidance to $3.32 EPS and its FY 2018 guidance to $3.32-3.32 EPS.

Shares of NYSE WEC opened at $68.40 on Thursday. The firm has a market cap of $21.74 billion, a price-to-earnings ratio of 21.78, a P/E/G ratio of 4.78 and a beta of 0.02. WEC Energy Group has a one year low of $58.48 and a one 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 business also recently announced a quarterly dividend, which will be paid on Saturday, December 1st. Shareholders of record on Wednesday, November 14th will be given a dividend of $0.5525 per share. The ex-dividend date is Tuesday, November 13th. This represents a $2.21 annualized dividend and a dividend yield of 3.23%. WEC Energy Group’s payout ratio is currently 70.38%.

WEC has been the topic of a number of recent research reports. Barclays initiated coverage on shares of WEC Energy Group in a report on Tuesday, July 10th. They issued an “equal weight” rating and a $71.00 target price on the stock. Citigroup boosted their price objective on shares of WEC Energy Group from $61.00 to $63.00 and gave the company a “hold” rating in a research note on Tuesday, July 10th. Goldman Sachs Group raised shares of WEC Energy Group from a “sell” rating to a “neutral” rating in a research note on Thursday, July 19th. Deutsche Bank boosted their price objective on shares of WEC Energy Group from $67.00 to $68.00 and gave the company a “hold” rating in a research note on Wednesday, August 1st. Finally, Zacks Investment Research cut shares of WEC Energy Group from a “buy” rating to a “hold” rating in a research note on Thursday, August 9th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. WEC Energy Group currently has an average rating of “Hold” and an average target price of $70.00.

In other WEC Energy Group news, Director Barbara L. Bowles sold 2,500 shares of the business’s stock in a transaction on Monday, August 6th. The shares were sold at an average price of $66.45, for a total transaction of $166,125.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Frederick D. Kuester sold 168,790 shares of the business’s stock in a transaction on 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. 0.94% of the stock is currently owned by insiders.

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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Earnings History for WEC Energy Group (NYSE:WEC)

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