WEC Energy Group Inc (WEC) Expected to Post Earnings of $1.16 Per Share

Wall Street brokerages predict that WEC Energy Group Inc (NYSE:WEC) will report $1.16 earnings per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for WEC Energy Group’s earnings. The highest EPS estimate is $1.16 and the lowest is $1.15. WEC Energy Group reported earnings per share of $1.12 during the same quarter last year, which suggests a positive year-over-year growth rate of 3.6%. The business is expected to issue its next quarterly earnings results before the market opens on Tuesday, May 1st.

On average, analysts expect that WEC Energy Group will report full year earnings of $3.30 per share for the current fiscal year, with EPS estimates ranging from $3.28 to $3.30. For the next year, analysts anticipate that the company will report earnings of $3.49 per share, with EPS estimates ranging from $3.45 to $3.52. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that follow WEC Energy Group.

How to Become a New Pot Stock Millionaire

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Wednesday, January 31st. The utilities provider reported $0.71 EPS for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.03. The business had revenue of $2.06 billion during the quarter, compared to analysts’ expectations of $1.94 billion. WEC Energy Group had a return on equity of 10.81% and a net margin of 15.75%. The business’s revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.61 earnings per share.

A number of research firms have recently commented on WEC. Citigroup began coverage on WEC Energy Group in a research report on Friday. They issued a “neutral” rating and a $61.00 price objective for the company. Zacks Investment Research cut WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Saturday, April 7th. Guggenheim restated a “buy” rating and issued a $73.00 price objective on shares of WEC Energy Group in a research report on Wednesday, January 3rd. UBS began coverage on WEC Energy Group in a research report on Friday, February 2nd. They issued a “neutral” rating and a $65.00 price objective for the company. Finally, Credit Suisse Group restated a “neutral” rating and issued a $63.00 price objective (down from $65.00) on shares of WEC Energy Group in a research report on Friday, February 23rd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $65.90.

In related news, Director Barbara L. Bowles sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $60.19, for a total transaction of $120,380.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.94% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Rockland Trust Co. increased its position in shares of WEC Energy Group by 7.8% during the fourth quarter. Rockland Trust Co. now owns 11,957 shares of the utilities provider’s stock worth $794,000 after purchasing an additional 869 shares in the last quarter. Farmers & Merchants Investments Inc. increased its position in shares of WEC Energy Group by 0.9% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 97,653 shares of the utilities provider’s stock worth $6,487,000 after purchasing an additional 896 shares in the last quarter. BB&T Securities LLC increased its position in shares of WEC Energy Group by 4.4% during the fourth quarter. BB&T Securities LLC now owns 21,425 shares of the utilities provider’s stock worth $1,423,000 after purchasing an additional 908 shares in the last quarter. Cognios Capital LLC increased its position in shares of WEC Energy Group by 30.8% during the fourth quarter. Cognios Capital LLC now owns 4,215 shares of the utilities provider’s stock worth $280,000 after purchasing an additional 993 shares in the last quarter. Finally, New Mexico Educational Retirement Board increased its position in shares of WEC Energy Group by 3.4% during the fourth quarter. New Mexico Educational Retirement Board now owns 30,303 shares of the utilities provider’s stock worth $2,013,000 after purchasing an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 72.96% of the company’s stock.

WEC Energy Group stock opened at $62.41 on Tuesday. The company has a market capitalization of $19,431.23, a PE ratio of 19.88, a price-to-earnings-growth ratio of 4.42 and a beta of 0.07. WEC Energy Group has a 12 month low of $58.92 and a 12 month high of $70.09. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.57 and a quick ratio of 0.43.

WARNING: This article was first posted by Chaffey Breeze and is the property of of Chaffey Breeze. If you are viewing this article on another website, it was illegally copied and reposted in violation of U.S. & international copyright and trademark laws. The correct version of this article can be accessed at https://www.chaffeybreeze.com/2018/04/17/wec-energy-group-inc-wec-expected-to-post-earnings-of-1-16-per-share.html.

About WEC Energy Group

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.

Get a free copy of the Zacks research report on WEC Energy Group (WEC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for WEC Energy Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WEC Energy Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply