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

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

A number of equities research analysts have recently commented on WEC shares. ValuEngine cut shares of WEC Energy Group from a buy rating to a hold rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. started coverage on shares of WEC Energy Group in a report on Tuesday, October 8th. They issued a neutral rating and a $99.00 target price for the company. Citigroup upped their target price on shares of WEC Energy Group from $93.00 to $95.00 and gave the company a neutral rating in a report on Thursday. Credit Suisse Group reduced their target price on shares of WEC Energy Group from $85.00 to $81.00 and set an underperform rating for the company in a report on Wednesday, November 13th. Finally, Argus reaffirmed a buy rating on shares of WEC Energy Group in a report on Tuesday. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. WEC Energy Group currently has an average rating of Hold and an average target price of $87.55.

NYSE WEC traded up $0.34 during trading hours on Thursday, hitting $95.50. 10,107 shares of the stock were exchanged, compared to its average volume of 1,230,957. The company has a market cap of $29.64 billion, a price-to-earnings ratio of 28.63, a price-to-earnings-growth ratio of 4.10 and a beta of -0.01. WEC Energy Group has a 12-month low of $69.30 and a 12-month high of $98.19. The stock has a 50-day moving average of $90.87 and a 200 day moving average of $90.64. The company has a quick ratio of 0.42, a current ratio of 0.63 and a debt-to-equity ratio of 1.07.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.03. WEC Energy Group had a net margin of 14.32% and a return on equity of 10.91%. The firm had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same period in the prior year, the company posted $0.74 earnings per share. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. On average, equities research analysts expect that WEC Energy Group will post 3.53 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Friday, February 14th will be issued a $0.6325 dividend. The ex-dividend date is Thursday, February 13th. This is a boost from WEC Energy Group’s previous quarterly dividend of $0.59. This represents a $2.53 dividend on an annualized basis and a yield of 2.65%. WEC Energy Group’s dividend payout ratio (DPR) is 70.66%.

In other WEC Energy Group news, Director Barbara L. Bowles sold 1,000 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $88.07, for a total value of $88,070.00. Company 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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