WEC Energy Group (NYSE:WEC) Updates FY19 Earnings Guidance

WEC Energy Group (NYSE:WEC) updated its FY19 earnings guidance on Wednesday. The company provided earnings per share guidance of $3.51-3.53 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.53.

Several brokerages have issued reports on WEC. JPMorgan Chase & Co. began coverage on WEC Energy Group in a research report on Tuesday, October 8th. They set a neutral rating and a $99.00 target price on the stock. Credit Suisse Group cut WEC Energy Group from a neutral rating to an underperform rating and increased their target price for the company from $84.00 to $85.00 in a research report on Tuesday, August 6th. They noted that the move was a valuation call. UBS Group increased their target price on WEC Energy Group from $87.00 to $94.00 and gave the company a neutral rating in a research report on Friday, September 6th. Guggenheim cut WEC Energy Group from a buy rating to a neutral rating in a research report on Wednesday, September 4th. They noted that the move was a valuation call. Finally, Zacks Investment Research raised WEC Energy Group from a hold rating to a buy rating and set a $97.00 price objective for the company in a research report on Monday, September 16th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. WEC Energy Group has a consensus rating of Hold and a consensus price target of $86.50.

Shares of WEC Energy Group stock traded down $0.87 during trading on Friday, reaching $88.00. The company’s stock had a trading volume of 907,907 shares, compared to its average volume of 1,350,467. The company has a quick ratio of 0.41, a current ratio of 0.55 and a debt-to-equity ratio of 0.98. The company has a market cap of $28.70 billion, a price-to-earnings ratio of 26.35, a P/E/G ratio of 4.18 and a beta of -0.01. WEC Energy Group has a 1-year low of $66.75 and a 1-year high of $98.19. The company has a 50-day simple moving average of $93.78 and a two-hundred day simple moving average of $87.52.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Wednesday, November 6th. The utilities provider reported $0.74 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.03. The firm had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.68 billion. WEC Energy Group had a return on equity of 11.00% and a net margin of 14.24%. The business’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.74 EPS. As a group, analysts anticipate that WEC Energy Group will post 3.53 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Thursday, November 14th will be paid a $0.59 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $2.36 dividend on an annualized basis and a yield of 2.68%. WEC Energy Group’s dividend payout ratio (DPR) is 70.66%.

In related news, Director Barbara L. Bowles sold 1,000 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $89.73, for a total value of $89,730.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Mary Beth Straka sold 3,500 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $97.69, for a total value of $341,915.00. Following the completion of the transaction, the vice president now owns 5,252 shares of the company’s stock, valued at approximately $513,067.88. The disclosure for this sale can be found here. Insiders sold a total of 157,615 shares of company stock valued at $15,163,723 in the last 90 days. 0.75% of the stock is currently owned by company insiders.

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.

Featured Story: Monthly Dividend Stocks Can Provide Solid Income

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.