Analysts Expect WEC Energy Group, Inc. (NYSE:WEC) Will Post Earnings of $1.64 Per Share

Equities research analysts predict that WEC Energy Group, Inc. (NYSE:WEC – Get Rating) will post earnings per share of $1.64 for the current quarter, Zacks reports. Four analysts have provided estimates for WEC Energy Group’s earnings, with estimates ranging from $1.55 to $1.69. WEC Energy Group reported earnings per share of $1.61 in the same quarter last year, which suggests a positive year over year growth rate of 1.9%. The business is scheduled to announce its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that WEC Energy Group will report full year earnings of $4.31 per share for the current fiscal year, with EPS estimates ranging from $4.29 to $4.33. For the next year, analysts anticipate that the firm will report earnings of $4.58 per share, with EPS estimates ranging from $4.57 to $4.59. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that cover WEC Energy Group.

WEC Energy Group (NYSE:WEC – Get Rating) last released its quarterly earnings data on Thursday, February 3rd. The utilities provider reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.03. The firm had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $1.86 billion. WEC Energy Group had a net margin of 15.64% and a return on equity of 11.80%. The firm’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.76 earnings per share.

Several research analysts recently commented on the stock. Evercore ISI reaffirmed a “hold” rating and issued a $97.00 price target on shares of WEC Energy Group in a research note on Friday, February 4th. StockNews.com assumed coverage on shares of WEC Energy Group in a report on Thursday, March 31st. They set a “hold” rating for the company. The Goldman Sachs Group raised shares of WEC Energy Group from a “sell” rating to a “neutral” rating and set a $99.00 price target for the company in a report on Thursday, January 13th. Finally, BMO Capital Markets reissued a “hold” rating and set a $98.00 price target on shares of WEC Energy Group in a research report on Friday, February 4th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, WEC Energy Group presently has an average rating of “Hold” and a consensus target price of $100.22.

Several institutional investors have recently made changes to their positions in WEC. BlackRock Inc. raised its position in WEC Energy Group by 26.0% during the fourth quarter. BlackRock Inc. now owns 33,040,366 shares of the utilities provider’s stock valued at $3,207,228,000 after buying an additional 6,810,208 shares during the period. Nuveen Asset Management LLC grew its holdings in shares of WEC Energy Group by 56.3% during the 4th quarter. Nuveen Asset Management LLC now owns 5,250,516 shares of the utilities provider’s stock worth $509,668,000 after purchasing an additional 1,890,747 shares in the last quarter. UBS Asset Management Americas Inc. grew its holdings in shares of WEC Energy Group by 61.7% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 2,119,235 shares of the utilities provider’s stock worth $186,917,000 after purchasing an additional 808,281 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of WEC Energy Group during the 3rd quarter worth approximately $40,209,000. Finally, Panagora Asset Management Inc. lifted its position in shares of WEC Energy Group by 365.3% during the 4th quarter. Panagora Asset Management Inc. now owns 569,887 shares of the utilities provider’s stock worth $55,319,000 after buying an additional 447,398 shares during the period. 72.83% of the stock is currently owned by institutional investors.

WEC stock opened at $105.40 on Thursday. WEC Energy Group has a 52 week low of $86.84 and a 52 week high of $105.96. The company has a quick ratio of 0.54, a current ratio of 0.71 and a debt-to-equity ratio of 1.22. The company has a fifty day simple moving average of $96.13 and a two-hundred day simple moving average of $93.96. The firm has a market capitalization of $33.25 billion, a P/E ratio of 25.64, a price-to-earnings-growth ratio of 3.97 and a beta of 0.29.

WEC Energy Group Company Profile (Get Rating)

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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