WEC Energy Group Inc Forecasted to Earn FY2020 Earnings of $3.88 Per Share (NYSE:WEC)

WEC Energy Group Inc (NYSE:WEC) – Equities research analysts at KeyCorp issued their FY2020 earnings per share (EPS) estimates for shares of WEC Energy Group in a research report issued on Tuesday, June 4th, according to Zacks Investment Research. KeyCorp analyst S. Karp expects that the utilities provider will earn $3.88 per share for the year. KeyCorp currently has a “Sector Weight” rating on the stock. KeyCorp also issued estimates for WEC Energy Group’s FY2021 earnings at $3.96 EPS.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data on Thursday, April 25th. The utilities provider reported $1.33 EPS for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.08. WEC Energy Group had a return on equity of 11.06% and a net margin of 14.03%. The firm had revenue of $2.38 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter last year, the business posted $1.23 earnings per share. The firm’s revenue was up 4.0% compared to the same quarter last year.

A number of other research firms also recently commented on WEC. Bank of America downgraded WEC Energy Group from a “neutral” rating to an “underperform” rating and lifted their target price for the company from $82.00 to $85.00 in a research report on Monday, June 24th. Zacks Investment Research upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Tuesday, March 26th. Goldman Sachs Group downgraded WEC Energy Group from a “neutral” rating to a “sell” rating and reduced their target price for the company from $71.00 to $70.00 in a research report on Monday, April 8th. Wolfe Research set a $77.00 target price on WEC Energy Group and gave the company a “sell” rating in a research report on Friday, April 26th. Finally, Argus lifted their target price on WEC Energy Group to $85.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $75.15.

NYSE:WEC traded up $0.29 on Thursday, reaching $83.37. The company’s stock had a trading volume of 2,678,390 shares, compared to its average volume of 1,626,683. WEC Energy Group has a 12-month low of $63.19 and a 12-month high of $85.70. The company has a current ratio of 0.69, a quick ratio of 0.58 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $26.21 billion, a price-to-earnings ratio of 24.96, a price-to-earnings-growth ratio of 4.02 and a beta of 0.13. The company has a 50 day moving average of $82.30.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. boosted its position in shares of WEC Energy Group by 1.5% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 9,026 shares of the utilities provider’s stock worth $714,000 after acquiring an additional 130 shares in the last quarter. 1ST Source Bank boosted its position in shares of WEC Energy Group by 3.6% during the 1st quarter. 1ST Source Bank now owns 4,138 shares of the utilities provider’s stock worth $327,000 after acquiring an additional 144 shares in the last quarter. Cable Hill Partners LLC boosted its position in shares of WEC Energy Group by 11.0% during the 1st quarter. Cable Hill Partners LLC now owns 1,459 shares of the utilities provider’s stock worth $115,000 after acquiring an additional 145 shares in the last quarter. Somerset Trust Co boosted its position in shares of WEC Energy Group by 0.6% during the 1st quarter. Somerset Trust Co now owns 26,688 shares of the utilities provider’s stock worth $2,111,000 after acquiring an additional 168 shares in the last quarter. Finally, IHT Wealth Management LLC boosted its position in shares of WEC Energy Group by 3.0% during the 4th quarter. IHT Wealth Management LLC now owns 5,802 shares of the utilities provider’s stock worth $402,000 after acquiring an additional 170 shares in the last quarter. 74.91% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Allen L. Leverett sold 100,000 shares of the business’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $82.49, for a total transaction of $8,249,000.00. Following the completion of the transaction, the director now directly owns 131,281 shares of the company’s stock, valued at approximately $10,829,369.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Barbara L. Bowles sold 2,000 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $78.35, for a total value of $156,700.00. The disclosure for this sale can be found here. Insiders sold a total of 471,457 shares of company stock worth $38,588,620 in the last quarter. Company insiders own 0.75% of the company’s stock.

The company also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Tuesday, May 14th were issued a $0.59 dividend. The ex-dividend date was Monday, May 13th. This represents a $2.36 annualized dividend and a dividend yield of 2.83%. WEC Energy Group’s dividend payout ratio is presently 70.66%.

About WEC Energy Group

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, 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.

Further Reading: How Do Investors Open a Backdoor Roth IRA?

Get a free copy of the Zacks research report on WEC Energy Group (WEC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for WEC Energy Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WEC Energy Group and related companies with MarketBeat.com's FREE daily email newsletter.