WEC Energy Group, Inc. (NYSE:WEC – Free Report) – Research analysts at Zacks Research dropped their Q3 2023 earnings per share estimates for shares of WEC Energy Group in a research report issued on Wednesday, October 4th. Zacks Research analyst T. Sarawagi now anticipates that the utilities provider will post earnings per share of $0.99 for the quarter, down from their prior estimate of $1.00. 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 Q4 2023 earnings at $1.09 EPS, Q2 2024 earnings at $0.96 EPS, Q3 2024 earnings at $1.19 EPS, Q1 2025 earnings at $1.82 EPS and Q3 2025 earnings at $1.26 EPS.
Several other research analysts have also weighed in on WEC. Mizuho reaffirmed a “buy” rating and set a $98.00 target price on shares of WEC Energy Group in a research note on Friday, June 30th. LADENBURG THALM/SH SH started coverage on WEC Energy Group in a research note on Monday, September 11th. They issued a “neutral” rating and a $85.00 price objective for the company. BMO Capital Markets decreased their target price on WEC Energy Group from $98.00 to $95.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 2nd. StockNews.com initiated coverage on WEC Energy Group in a report on Thursday. They set a “sell” rating for the company. Finally, JPMorgan Chase & Co. boosted their price target on shares of WEC Energy Group from $98.00 to $99.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 16th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $93.38.
WEC Energy Group Stock Up 1.7 %
WEC stock opened at $80.63 on Friday. WEC Energy Group has a one year low of $75.47 and a one year high of $101.11. The firm has a market cap of $25.43 billion, a PE ratio of 18.79, a PEG ratio of 2.99 and a beta of 0.41. The firm’s 50 day moving average price is $84.65 and its 200-day moving average price is $89.45. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.45 and a current ratio of 0.60.
WEC Energy Group (NYSE:WEC – Get Free Report) last released its quarterly earnings data on Tuesday, August 1st. The utilities provider reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.07. WEC Energy Group had a return on equity of 11.48% and a net margin of 14.57%. The company had revenue of $1.83 billion for the quarter, compared to analyst estimates of $2.05 billion. During the same quarter in the previous year, the company posted $0.91 earnings per share. The firm’s revenue for the quarter was down 14.0% compared to the same quarter last year.
WEC Energy Group Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Monday, August 14th were paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.87%. The ex-dividend date was Friday, August 11th. WEC Energy Group’s dividend payout ratio is presently 72.73%.
Institutional Investors Weigh In On WEC Energy Group
Large investors have recently modified their holdings of the stock. Northwest Bank & Trust Co acquired a new stake in shares of WEC Energy Group in the 2nd quarter valued at approximately $26,000. Dakota Community Bank & Trust NA purchased a new stake in shares of WEC Energy Group during the 2nd quarter worth $27,000. Achmea Investment Management B.V. acquired a new position in shares of WEC Energy Group during the 1st quarter worth $27,000. First Manhattan Co. increased its holdings in shares of WEC Energy Group by 102.0% in the 4th quarter. First Manhattan Co. now owns 303 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 153 shares in the last quarter. Finally, Center for Financial Planning Inc. purchased a new position in shares of WEC Energy Group in the 2nd quarter valued at about $33,000. Hedge funds and other institutional investors own 75.75% of the company’s stock.
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. The company operates through six segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure, and Corporate and Other.
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