Zacks: Analysts Anticipate WEC Energy Group Inc (WEC) Will Post Quarterly Sales of $1.66 Billion

Analysts predict that WEC Energy Group Inc (NYSE:WEC) will report sales of $1.66 billion for the current quarter, according to Zacks. Four analysts have made estimates for WEC Energy Group’s earnings, with the highest sales estimate coming in at $1.68 billion and the lowest estimate coming in at $1.63 billion. WEC Energy Group also reported sales of $1.66 billion in the same quarter last year. The company is scheduled to issue its next earnings report before the market opens on Wednesday, October 31st.

On average, analysts expect that WEC Energy Group will report full year sales of $7.65 billion for the current fiscal year, with estimates ranging from $7.43 billion to $8.06 billion. For the next financial year, analysts anticipate that the company will post sales of $7.80 billion, with estimates ranging from $7.48 billion to $8.25 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover WEC Energy Group.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings results on Tuesday, July 31st. The utilities provider reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.06. WEC Energy Group had a return on equity of 11.18% and a net margin of 16.56%. The firm had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same period in the prior year, the business posted $0.63 earnings per share. The company’s revenue for the quarter was up 2.5% on a year-over-year basis.

WEC has been the topic of several research analyst reports. Howard Weil initiated coverage on WEC Energy Group in a research note on Tuesday, September 4th. They issued a “sector outperform” rating and a $72.00 price objective on the stock. Zacks Investment Research cut WEC Energy Group from a “buy” rating to a “hold” rating in a research note on Thursday, August 9th. Scotia Howard Weill initiated coverage on WEC Energy Group in a research note on Tuesday, September 4th. They issued a “sector outperform” rating and a $72.00 price objective on the stock. Wells Fargo & Co increased their price objective on WEC Energy Group from $71.00 to $75.00 and gave the stock an “outperform” rating in a research note on Monday, September 17th. Finally, Deutsche Bank increased their price objective on WEC Energy Group from $67.00 to $68.00 and gave the stock a “hold” rating in a research note on Wednesday, August 1st. Nine equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $69.36.

Shares of NYSE:WEC opened at $68.28 on Monday. WEC Energy Group has a 52-week low of $58.48 and a 52-week high of $70.09. The company has a market capitalization of $21.07 billion, a P/E ratio of 21.75, a PEG ratio of 4.87 and a beta of 0.02. The company has a current ratio of 0.59, a quick ratio of 0.44 and a debt-to-equity ratio of 0.95.

In other WEC Energy Group news, insider Frederick D. Kuester sold 168,790 shares of the stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $66.94, for a total transaction of $11,298,802.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Barbara L. Bowles sold 2,500 shares of the stock in a transaction on Monday, August 6th. The shares were sold at an average price of $66.45, for a total value of $166,125.00. The disclosure for this sale can be found here. 0.94% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. South Street Advisors LLC boosted its position in shares of WEC Energy Group by 0.4% in the 2nd quarter. South Street Advisors LLC now owns 180,490 shares of the utilities provider’s stock worth $11,668,000 after purchasing an additional 750 shares in the last quarter. Legacy Capital Partners Inc. boosted its position in shares of WEC Energy Group by 3.1% in the 2nd quarter. Legacy Capital Partners Inc. now owns 26,129 shares of the utilities provider’s stock worth $1,689,000 after purchasing an additional 775 shares in the last quarter. St. Johns Investment Management Company LLC boosted its position in shares of WEC Energy Group by 100.0% in the 2nd quarter. St. Johns Investment Management Company LLC now owns 1,600 shares of the utilities provider’s stock worth $102,000 after purchasing an additional 800 shares in the last quarter. Homrich & Berg boosted its position in shares of WEC Energy Group by 6.6% in the 2nd quarter. Homrich & Berg now owns 13,279 shares of the utilities provider’s stock worth $858,000 after purchasing an additional 819 shares in the last quarter. Finally, Raymond James Trust N.A. boosted its position in shares of WEC Energy Group by 8.2% in the 2nd quarter. Raymond James Trust N.A. now owns 12,624 shares of the utilities provider’s stock worth $817,000 after purchasing an additional 962 shares in the last quarter. 73.36% of the stock is currently owned by institutional investors and hedge funds.

WEC Energy Group Company Profile

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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