WEC Energy Group (NYSE:WEC – Get Free Report) posted its quarterly earnings data on Wednesday. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.04, Briefing.com reports. WEC Energy Group had a return on equity of 13.01% and a net margin of 16.67%. The company had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same quarter last year, the company earned $0.92 earnings per share. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. WEC Energy Group updated its FY24 guidance to $4.80-4.90 EPS and its FY 2024 guidance to 4.800-4.900 EPS.
WEC Energy Group Stock Up 0.6 %
NYSE WEC traded up $0.53 during mid-day trading on Wednesday, reaching $86.13. The stock had a trading volume of 1,371,218 shares, compared to its average volume of 2,100,972. WEC Energy Group has a 1 year low of $75.13 and a 1 year high of $91.44. The stock has a market cap of $27.20 billion, a PE ratio of 18.69, a price-to-earnings-growth ratio of 2.17 and a beta of 0.41. The company has a fifty day moving average price of $80.06 and a 200 day moving average price of $80.51. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.55 and a quick ratio of 0.42.
WEC Energy Group Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Wednesday, August 14th will be given a $0.835 dividend. The ex-dividend date is Wednesday, August 14th. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.88%. WEC Energy Group’s dividend payout ratio is currently 72.93%.
Wall Street Analyst Weigh In
Read Our Latest Stock Analysis on WEC
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. It operates through Wisconsin, Illinois, Other States, Electric Transmission, and Non-Utility Energy Infrastructure segments.
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