WEC Energy Group, Inc. (NYSE:WEC – Free Report) – Analysts at Zacks Research raised their FY2023 earnings estimates for WEC Energy Group in a research report issued to clients and investors on Monday, September 4th. Zacks Research analyst J. Saha now expects that the utilities provider will post earnings per share of $4.61 for the year, up from their prior forecast of $4.60. The consensus estimate for WEC Energy Group’s current full-year earnings is $4.61 per share. Zacks Research also issued estimates for WEC Energy Group’s Q2 2024 earnings at $0.93 EPS and Q1 2025 earnings at $1.78 EPS.
WEC Energy Group (NYSE:WEC – Get Free Report) last announced its quarterly earnings data on Tuesday, August 1st. The utilities provider reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.07. The business had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $2.05 billion. WEC Energy Group had a net margin of 14.57% and a return on equity of 11.48%. The firm’s quarterly revenue was down 14.0% compared to the same quarter last year. During the same period last year, the firm posted $0.91 earnings per share.
Get Our Latest Research Report on WEC Energy Group
WEC Energy Group Stock Performance
Shares of NYSE:WEC opened at $82.06 on Wednesday. The company’s 50 day simple moving average is $87.72 and its 200 day simple moving average is $90.61. The stock has a market capitalization of $25.88 billion, a price-to-earnings ratio of 19.13, a price-to-earnings-growth ratio of 3.14 and a beta of 0.41. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.60 and a quick ratio of 0.45. WEC Energy Group has a 1 year low of $80.82 and a 1 year high of $107.60.
WEC Energy Group Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Monday, August 14th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.80%. The ex-dividend date of this dividend was Friday, August 11th. WEC Energy Group’s dividend payout ratio (DPR) is currently 72.73%.
Institutional Trading of WEC Energy Group
Several institutional investors and hedge funds have recently made changes to their positions in WEC. Portside Wealth Group LLC purchased a new position in WEC Energy Group in the 2nd quarter worth $904,000. Alberta Investment Management Corp raised its position in WEC Energy Group by 35.4% in the 2nd quarter. Alberta Investment Management Corp now owns 10,967 shares of the utilities provider’s stock worth $968,000 after purchasing an additional 2,867 shares during the period. Stonebridge Capital Advisors LLC raised its position in WEC Energy Group by 34.6% in the 2nd quarter. Stonebridge Capital Advisors LLC now owns 1,178 shares of the utilities provider’s stock worth $104,000 after purchasing an additional 303 shares during the period. Virginia Retirement Systems ET AL purchased a new position in WEC Energy Group in the 2nd quarter worth $42,678,000. Finally, Comerica Bank bought a new stake in WEC Energy Group in the 2nd quarter worth $308,000. Hedge funds and other institutional investors own 75.75% of the company’s stock.
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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