WEC Energy Group (NYSE:WEC) Releases Quarterly Earnings Results, Beats Estimates By $0.14 EPS


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WEC Energy Group (NYSE:WEC) announced its earnings results on Sunday. The utilities provider reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.14, MarketWatch Earnings reports. The business had revenue of $2.69 billion during the quarter, compared to analyst estimates of $2.22 billion. WEC Energy Group had a net margin of 16.26% and a return on equity of 11.36%. WEC Energy Group’s revenue for the quarter was up 27.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.43 earnings per share.

Shares of WEC Energy Group stock traded down $0.14 on Tuesday, hitting $97.86. The stock had a trading volume of 1,344,754 shares, compared to its average volume of 1,347,754. The company has a quick ratio of 0.36, a current ratio of 0.49 and a debt-to-equity ratio of 1.02. WEC Energy Group has a one year low of $80.55 and a one year high of $106.85. The stock’s 50-day simple moving average is $93.62 and its two-hundred day simple moving average is $92.24. The stock has a market cap of $30.87 billion, a price-to-earnings ratio of 26.49, a PEG ratio of 4.51 and a beta of 0.18.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 1st. Stockholders of record on Friday, May 14th will be paid a dividend of $0.6775 per share. This represents a $2.71 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend is Thursday, May 13th. WEC Energy Group’s dividend payout ratio (DPR) is presently 75.70%.

A number of analysts have recently issued reports on WEC shares. Wells Fargo & Company raised shares of WEC Energy Group from an “equal weight” rating to an “overweight” rating and dropped their price objective for the stock from $94.00 to $93.00 in a report on Wednesday, March 10th. Barclays raised WEC Energy Group from an “underweight” rating to an “equal weight” rating and set a $107.00 price target for the company in a research note on Wednesday, January 13th. Finally, Mizuho started coverage on WEC Energy Group in a research report on Wednesday, April 14th. They set a “neutral” rating and a $94.00 price objective on the stock. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. WEC Energy Group has a consensus rating of “Hold” and an average price target of $95.45.

About WEC Energy Group

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and renewable 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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Earnings History for WEC Energy Group (NYSE:WEC)

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