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

WEC Energy Group (NYSE:WEC) updated its FY 2019 earnings guidance on Monday. The company provided EPS guidance of $3.50-3.53 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.51. WEC Energy Group also updated its FY19 guidance to $3.50-3.53 EPS.

WEC stock traded up $0.34 during midday trading on Wednesday, hitting $88.23. The company’s stock had a trading volume of 77,957 shares, compared to its average volume of 1,737,595. WEC Energy Group has a 12 month low of $64.96 and a 12 month high of $88.63. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.69 and a quick ratio of 0.58. The company has a market capitalization of $27.30 billion, a price-to-earnings ratio of 26.37, a price-to-earnings-growth ratio of 4.20 and a beta of 0.11. The business has a 50 day moving average price of $85.57.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings results on Monday, August 5th. The utilities provider reported $0.74 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.04. WEC Energy Group had a return on equity of 11.06% and a net margin of 14.03%. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the prior year, the company posted $0.73 EPS. The firm’s revenue for the quarter was down 4.9% compared to the same quarter last year. On average, analysts expect that WEC Energy Group will post 3.52 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Wednesday, August 14th will be paid a $0.59 dividend. The ex-dividend date is Tuesday, August 13th. This represents a $2.36 annualized dividend and a yield of 2.67%. WEC Energy Group’s payout ratio is 70.66%.

WEC has been the subject of several recent analyst reports. Credit Suisse Group downgraded WEC Energy Group from a neutral rating to an underperform rating and upped their price target for the stock from $84.00 to $85.00 in a research note on Tuesday. They noted that the move was a valuation call. Scotiabank downgraded WEC Energy Group from an outperform rating to a sector perform rating and upped their price target for the stock from $76.00 to $78.00 in a research note on Wednesday, May 8th. Bank of America downgraded WEC Energy Group from a neutral rating to an underperform rating and increased their target price for the company from $82.00 to $85.00 in a research report on Monday, June 24th. 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, KeyCorp assumed coverage on WEC Energy Group in a research report on Tuesday, June 4th. They set a sector weight rating for the company. Four analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $76.75.

In related news, Chairman Gale E. Klappa sold 31,400 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $82.57, for a total value of $2,592,698.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Allen L. Leverett sold 100,000 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $82.49, for a total value of $8,249,000.00. Following the completion of the sale, the director now owns 131,281 shares of the company’s stock, valued at $10,829,369.69. The disclosure for this sale can be found here. Insiders have sold a total of 464,976 shares of company stock valued at $38,081,954 over the last quarter. Corporate insiders own 0.75% of the company’s stock.

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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