Wall Street brokerages expect that WEC Energy Group, Inc. (NYSE:WEC) will announce earnings of $0.67 per share for the current fiscal quarter, Zacks reports. Zero analysts have issued estimates for WEC Energy Group’s earnings. The highest EPS estimate is $0.68 and the lowest is $0.65. WEC Energy Group posted earnings of $0.69 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 2.9%. The business is expected to announce its next earnings report before the market opens on Wednesday, October 25th.
On average, analysts expect that WEC Energy Group will report full year earnings of $3.10 per share for the current financial year, with EPS estimates ranging from $3.10 to $3.11. For the next year, analysts forecast that the business will report earnings of $3.28 per share, with EPS estimates ranging from $3.25 to $3.30. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover WEC Energy Group.
WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data on Wednesday, July 26th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.05. WEC Energy Group had a return on equity of 10.75% and a net margin of 12.72%. The business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the prior year, the business earned $0.57 earnings per share. The business’s revenue was up 1.8% on a year-over-year basis.
Several research firms have recently weighed in on WEC. KeyCorp reissued a “hold” rating on shares of WEC Energy Group in a research note on Friday, September 1st. Zacks Investment Research raised WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Monday, August 28th. BidaskClub raised WEC Energy Group from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. Finally, Goldman Sachs Group, Inc. (The) reissued a “sell” rating and set a $58.00 price objective (down from $59.00) on shares of WEC Energy Group in a research note on Monday, June 26th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $62.50.
Shares of WEC Energy Group (WEC) traded up 0.36% during mid-day trading on Thursday, hitting $64.30. The stock had a trading volume of 1,827,519 shares. The company has a 50 day moving average price of $64.80 and a 200 day moving average price of $62.70. The firm has a market cap of $20.29 billion, a P/E ratio of 21.08 and a beta of 0.12. WEC Energy Group has a 12-month low of $53.66 and a 12-month high of $67.20.
In other news, VP Tom Metcalfe sold 10,000 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $64.44, for a total value of $644,400.00. Following the completion of the sale, the vice president now owns 16,059 shares of the company’s stock, valued at $1,034,841.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gale E. Klappa sold 100,500 shares of the firm’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $64.42, for a total value of $6,474,210.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 192,190 shares of company stock valued at $12,435,484. 0.97% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of WEC Energy Group by 2.5% in the second quarter. Vanguard Group Inc. now owns 32,962,447 shares of the utilities provider’s stock worth $2,023,235,000 after buying an additional 795,189 shares during the period. BlackRock Inc. boosted its position in WEC Energy Group by 0.3% during the second quarter. BlackRock Inc. now owns 25,921,375 shares of the utilities provider’s stock valued at $1,591,055,000 after purchasing an additional 82,376 shares during the last quarter. State Street Corp boosted its position in WEC Energy Group by 1.2% during the first quarter. State Street Corp now owns 16,286,113 shares of the utilities provider’s stock valued at $987,428,000 after purchasing an additional 200,586 shares during the last quarter. Epoch Investment Partners Inc. boosted its position in WEC Energy Group by 8.6% during the second quarter. Epoch Investment Partners Inc. now owns 6,212,698 shares of the utilities provider’s stock valued at $381,336,000 after purchasing an additional 492,379 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in WEC Energy Group by 1.8% during the second quarter. JPMorgan Chase & Co. now owns 5,762,776 shares of the utilities provider’s stock valued at $353,718,000 after purchasing an additional 103,009 shares during the last quarter. 70.24% of the stock is owned by institutional investors and hedge funds.
WEC Energy Group Company Profile
WEC Energy Group, Inc was a diversified holding company with natural gas and electric utility operations, an approximately 60% equity ownership interest in American Transmission Company LLC, and non-utility electric operations through its We Power business, as of December 31, 2016. Its segments include Wisconsin; Illinois; Other States; Electric Transmission; We Power, and Corporate and Other.
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