WEC Energy Group (NYSE:WEC) Releases FY22 Earnings Guidance

WEC Energy Group (NYSE:WECGet Rating) issued an update on its FY22 earnings guidance on Monday morning. The company provided EPS guidance of $4.34-4.38 for the period, compared to the Thomson Reuters consensus EPS estimate of $4.30.

A number of brokerages have commented on WEC. Credit Suisse Group assumed coverage on shares of WEC Energy Group in a research note on Monday, April 25th. They set a neutral rating and a $108.00 price target for the company. 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 started coverage on 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 target price on the stock 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 report on Friday, February 4th. Eight investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $101.00.

Shares of WEC stock opened at $100.05 on Monday. WEC Energy Group has a 1 year low of $86.84 and a 1 year high of $106.82. The company has a current ratio of 0.71, a quick ratio of 0.54 and a debt-to-equity ratio of 1.22. The firm’s 50 day moving average is $97.97 and its 200-day moving average is $94.71. The firm has a market capitalization of $31.56 billion, a price-to-earnings ratio of 24.34, a PEG ratio of 3.83 and a beta of 0.29.

WEC Energy Group (NYSE:WECGet Rating) last posted its quarterly earnings data on Thursday, February 3rd. The utilities provider reported $0.71 earnings per share for the quarter, topping 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%. WEC Energy Group’s revenue was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.76 EPS. On average, equities research analysts forecast that WEC Energy Group will post 4.3 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 1st. Investors of record on Friday, May 13th will be issued a $0.7275 dividend. This represents a $2.91 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend is Thursday, May 12th. WEC Energy Group’s dividend payout ratio is 70.80%.

Large investors have recently made changes to their positions in the business. Forum Financial Management LP bought a new position in shares of WEC Energy Group in the 4th quarter valued at about $487,000. Zacks Investment Management boosted its stake in WEC Energy Group by 8.5% in the fourth quarter. Zacks Investment Management now owns 4,664 shares of the utilities provider’s stock valued at $453,000 after acquiring an additional 367 shares during the last quarter. Toroso Investments LLC grew its holdings in WEC Energy Group by 22.3% during the 4th quarter. Toroso Investments LLC now owns 3,668 shares of the utilities provider’s stock worth $356,000 after acquiring an additional 670 shares during the period. Integrated Wealth Concepts LLC raised its position in shares of WEC Energy Group by 4.7% during the 4th quarter. Integrated Wealth Concepts LLC now owns 3,003 shares of the utilities provider’s stock valued at $292,000 after acquiring an additional 136 shares during the last quarter. Finally, Cypress Capital Group acquired a new position in shares of WEC Energy Group in the 4th quarter valued at $267,000. 73.36% of the stock is owned by hedge funds and other institutional investors.

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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Earnings History and Estimates for WEC Energy Group (NYSE:WEC)

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