WEC Energy Group (NYSE:WEC – Get Free Report) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $4.80-4.90 for the period, compared to the consensus EPS estimate of $4.87. WEC Energy Group also updated its FY 2024 guidance to 4.800-4.900 EPS.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on the stock. The Goldman Sachs Group assumed coverage on shares of WEC Energy Group in a research note on Wednesday, April 10th. They issued a neutral rating and a $88.00 target price on the stock. Barclays lifted their target price on shares of WEC Energy Group from $78.00 to $80.00 and gave the stock an underweight rating in a research note on Monday, July 22nd. StockNews.com downgraded shares of WEC Energy Group from a hold rating to a sell rating in a research report on Wednesday, July 24th. Scotiabank reduced their price target on shares of WEC Energy Group from $96.00 to $90.00 and set a sector outperform rating on the stock in a research report on Monday, April 22nd. Finally, BMO Capital Markets lowered their price objective on shares of WEC Energy Group from $90.00 to $87.00 and set a market perform rating for the company in a report on Monday, July 22nd. Four research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, WEC Energy Group currently has an average rating of Hold and an average price target of $86.00.
Get Our Latest Analysis on WEC Energy Group
WEC Energy Group Stock Up 1.8 %
WEC Energy Group (NYSE:WEC – Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.04. WEC Energy Group had a return on equity of 13.01% and a net margin of 16.67%. The firm had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the previous year, the firm earned $0.92 EPS. WEC Energy Group’s quarterly revenue was down 3.2% compared to the same quarter last year. On average, research analysts anticipate that WEC Energy Group will post 4.88 earnings per share for the current fiscal year.
WEC Energy Group Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Wednesday, August 14th will be paid a $0.835 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $3.34 annualized dividend and a dividend yield of 3.90%. WEC Energy Group’s dividend payout ratio is presently 72.93%.
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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