WEC Energy Group (NYSE:WEC) Issues FY 2019 After-Hours Earnings Guidance

WEC Energy Group (NYSE:WEC) updated its FY 2019
After-Hours earnings guidance on Wednesday. The company provided EPS guidance of 3.51-3.53 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.53.

A number of research firms recently weighed in on WEC. JPMorgan Chase & Co. began coverage on WEC Energy Group in a report on Tuesday, October 8th. They issued a neutral rating and a $99.00 price target on the stock. Zacks Investment Research upgraded WEC Energy Group from a hold rating to a buy rating and set a $97.00 price target on the stock in a report on Monday, September 16th. ValuEngine cut WEC Energy Group from a buy rating to a hold rating in a report on Wednesday, October 2nd. Wells Fargo & Co restated a buy rating on shares of WEC Energy Group in a report on Monday, December 9th. Finally, Credit Suisse Group lowered their target price on WEC Energy Group from $85.00 to $81.00 and set an underperform rating on the stock in a report on Wednesday, November 13th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. WEC Energy Group currently has an average rating of Hold and an average price target of $86.80.

Shares of NYSE:WEC opened at $92.54 on Friday. The business’s fifty day moving average price is $90.36 and its two-hundred day moving average price is $90.42. The stock has a market cap of $29.02 billion, a PE ratio of 26.59, a price-to-earnings-growth ratio of 4.02 and a beta of -0.01. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.42 and a current ratio of 0.63. WEC Energy Group has a one year low of $67.80 and a one year high of $98.19.

WEC Energy Group (NYSE:WEC) last announced its earnings results on Wednesday, November 6th. The utilities provider reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.03. The firm had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.68 billion. WEC Energy Group had a return on equity of 10.91% and a net margin of 14.32%. WEC Energy Group’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.74 EPS. As a group, equities research analysts predict that WEC Energy Group will post 3.53 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Friday, February 14th will be issued a dividend of $0.6325 per share. This represents a $2.53 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date is Thursday, February 13th. This is a boost from WEC Energy Group’s previous quarterly dividend of $0.59. WEC Energy Group’s dividend payout ratio is 70.66%.

In other WEC Energy Group news, Director Barbara L. Bowles sold 1,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $88.07, for a total transaction of $88,070.00. 0.75% of the stock is currently owned by corporate 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.

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