WEC Energy Group, Inc. (NYSE:WEC – Get Rating) – Investment analysts at KeyCorp increased their FY2024 earnings estimates for WEC Energy Group in a research note issued to investors on Wednesday, October 19th. KeyCorp analyst S. Karp now expects that the utilities provider will post earnings of $4.86 per share for the year, up from their prior forecast of $4.83. KeyCorp has a “Overweight” rating and a $94.00 price objective on the stock. The consensus estimate for WEC Energy Group’s current full-year earnings is $4.39 per share. KeyCorp also issued estimates for WEC Energy Group’s FY2025 earnings at $5.15 EPS and FY2026 earnings at $5.46 EPS.
WEC Energy Group (NYSE:WEC – Get Rating) last released its quarterly earnings data on Tuesday, August 2nd. The utilities provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.05. WEC Energy Group had a net margin of 15.23% and a return on equity of 12.15%. The firm had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same period in the previous year, the business posted $0.87 earnings per share. The company’s revenue for the quarter was up 26.9% compared to the same quarter last year.
Other equities research analysts also recently issued research reports about the company. Barclays dropped their target price on WEC Energy Group from $108.00 to $104.00 and set an “equal weight” rating for the company in a report on Monday, July 18th. Mizuho dropped their target price on WEC Energy Group from $93.00 to $85.00 and set a “neutral” rating for the company in a report on Monday. Wells Fargo & Company dropped their target price on WEC Energy Group from $114.00 to $100.00 and set an “overweight” rating for the company in a report on Wednesday. BMO Capital Markets dropped their target price on WEC Energy Group from $105.00 to $93.00 in a report on Tuesday, October 4th. Finally, Credit Suisse Group downgraded WEC Energy Group from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $108.00 to $98.00 in a report on Wednesday, July 20th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, WEC Energy Group has an average rating of “Hold” and a consensus target price of $98.80.
WEC Energy Group Trading Down 1.5 %
WEC stock opened at $85.44 on Friday. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.69 and a quick ratio of 0.54. The company has a fifty day moving average price of $98.40 and a two-hundred day moving average price of $100.31. WEC Energy Group has a one year low of $80.82 and a one year high of $108.39. The stock has a market cap of $26.95 billion, a price-to-earnings ratio of 19.73, a price-to-earnings-growth ratio of 3.30 and a beta of 0.36.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the business. Princeton Global Asset Management LLC raised its stake in WEC Energy Group by 150.0% during the first quarter. Princeton Global Asset Management LLC now owns 250 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 150 shares in the last quarter. Brown Brothers Harriman & Co. grew its holdings in shares of WEC Energy Group by 142.7% during the second quarter. Brown Brothers Harriman & Co. now owns 250 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 147 shares during the last quarter. CoreFirst Bank & Trust bought a new stake in shares of WEC Energy Group during the second quarter worth about $25,000. CoreCap Advisors LLC bought a new stake in shares of WEC Energy Group during the second quarter worth about $26,000. Finally, Achmea Investment Management B.V. bought a new stake in shares of WEC Energy Group during the first quarter worth about $27,000. Institutional investors and hedge funds own 75.03% of the company’s stock.
Insiders Place Their Bets
In other WEC Energy Group news, EVP William Mastoris sold 4,690 shares of the business’s stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $105.04, for a total transaction of $492,637.60. Following the completion of the transaction, the executive vice president now owns 2,506 shares of the company’s stock, valued at $263,230.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.34% of the company’s stock.
WEC Energy Group Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Monday, November 14th will be paid a $0.7275 dividend. This represents a $2.91 dividend on an annualized basis and a yield of 3.41%. WEC Energy Group’s dividend payout ratio (DPR) is presently 67.21%.
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.
Further Reading
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