WEC Energy Group (WEC) Set to Announce Earnings on Wednesday

WEC Energy Group (NYSE:WEC) is set to post its quarterly earnings results before the market opens on Wednesday, May 1st. Individual interested in registering for the company’s earnings conference call can do so using this link.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Thursday, February 1st. The utilities provider reported $1.10 EPS for the quarter, topping the consensus estimate of $1.08 by $0.02. The business had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.82 billion. WEC Energy Group had a net margin of 14.98% and a return on equity of 12.17%. The company’s quarterly revenue was down 13.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.80 earnings per share. On average, analysts expect WEC Energy Group to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.

WEC Energy Group Price Performance

WEC Energy Group stock opened at $81.97 on Wednesday. The company has a 50-day simple moving average of $79.97 and a 200-day simple moving average of $81.41. The firm has a market capitalization of $25.86 billion, a P/E ratio of 19.42, a P/E/G ratio of 2.84 and a beta of 0.40. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.40 and a current ratio of 0.55. WEC Energy Group has a one year low of $75.13 and a one year high of $98.80.

WEC Energy Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Tuesday, May 14th will be given a dividend of $0.835 per share. The ex-dividend date of this dividend is Monday, May 13th. This represents a $3.34 annualized dividend and a dividend yield of 4.07%. WEC Energy Group’s dividend payout ratio is currently 79.15%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. KeyCorp upped their price target on shares of WEC Energy Group from $95.00 to $96.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Barclays decreased their target price on shares of WEC Energy Group from $79.00 to $75.00 and set an “underweight” rating for the company in a research report on Thursday, February 8th. Royal Bank of Canada decreased their target price on shares of WEC Energy Group from $95.00 to $90.00 and set a “sector perform” rating for the company in a research report on Thursday, February 8th. Scotiabank decreased their target price on shares of WEC Energy Group from $96.00 to $90.00 and set a “sector outperform” rating for the company in a research report on Monday. Finally, Wells Fargo & Company cut their price target on shares of WEC Energy Group from $93.00 to $91.00 and set an “overweight” rating for the company in a report on Friday, February 2nd. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, WEC Energy Group has a consensus rating of “Hold” and an average price target of $86.64.

Insider Buying and Selling at WEC Energy Group

In other WEC Energy Group news, Chairman Gale E. Klappa sold 37,180 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $78.69, for a total transaction of $2,925,694.20. Following the completion of the sale, the chairman now directly owns 274,782 shares of the company’s stock, valued at $21,622,595.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Chairman Gale E. Klappa sold 37,180 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $78.69, for a total value of $2,925,694.20. Following the transaction, the chairman now owns 274,782 shares in the company, valued at approximately $21,622,595.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Scott J. Lauber sold 2,830 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $78.89, for a total value of $223,258.70. Following the completion of the transaction, the chief executive officer now owns 43,125 shares in the company, valued at approximately $3,402,131.25. The disclosure for this sale can be found here. Insiders own 0.44% 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. It operates through Wisconsin, Illinois, Other States, Electric Transmission, and Non-Utility Energy Infrastructure segments.