$1.66 Billion in Sales Expected for WEC Energy Group Inc (WEC) This Quarter

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Equities research analysts expect WEC Energy Group Inc (NYSE:WEC) to post $1.66 billion in sales for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for WEC Energy Group’s earnings. The highest sales estimate is $1.68 billion and the lowest is $1.63 billion. WEC Energy Group also reported sales of $1.66 billion in the same quarter last year. The company is scheduled to announce its next earnings results on Thursday, October 25th.

According to Zacks, analysts expect that WEC Energy Group will report full year sales of $7.65 billion for the current financial year, with estimates ranging from $7.43 billion to $8.06 billion. For the next fiscal year, analysts expect that the business will report sales of $7.80 billion per share, with estimates ranging from $7.48 billion to $8.25 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover WEC Energy Group.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Tuesday, July 31st. The utilities provider reported $0.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.06. The firm had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.57 billion. WEC Energy Group had a net margin of 16.56% and a return on equity of 11.18%. The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the company posted $0.63 EPS.

Several analysts have recently weighed in on WEC shares. Zacks Investment Research cut shares of WEC Energy Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 9th. Goldman Sachs Group upgraded shares of WEC Energy Group from a “sell” rating to a “neutral” rating in a research report on Thursday, July 19th. Bank of America upgraded shares of WEC Energy Group from a “neutral” rating to a “buy” rating in a research report on Friday, June 1st. Howard Weil started coverage on shares of WEC Energy Group in a research report on Tuesday, September 4th. They set a “sector outperform” rating and a $72.00 price objective on the stock. Finally, Deutsche Bank raised their price objective on shares of WEC Energy Group from $67.00 to $68.00 and gave the company a “hold” rating in a research report on Wednesday, August 1st. Nine investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $69.09.

In related news, Director Barbara L. Bowles sold 2,500 shares of WEC Energy Group stock in a transaction on Monday, August 6th. The shares were sold at an average price of $66.45, for a total value of $166,125.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Frederick D. Kuester sold 168,790 shares of WEC Energy Group stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $66.94, for a total transaction of $11,298,802.60. The disclosure for this sale can be found here. 0.97% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of WEC. St. Johns Investment Management Company LLC raised its position in WEC Energy Group by 100.0% in the 2nd quarter. St. Johns Investment Management Company LLC now owns 1,600 shares of the utilities provider’s stock worth $102,000 after purchasing an additional 800 shares during the period. Braun Bostich & Associates Inc. increased its position in shares of WEC Energy Group by 1,300.0% in the second quarter. Braun Bostich & Associates Inc. now owns 1,764 shares of the utilities provider’s stock valued at $114,000 after acquiring an additional 1,638 shares during the period. Centaurus Financial Inc. purchased a new position in shares of WEC Energy Group in the second quarter valued at about $141,000. Well Done LLC purchased a new position in shares of WEC Energy Group in the first quarter valued at about $144,000. Finally, Financial Gravity Wealth Inc. purchased a new position in shares of WEC Energy Group in the first quarter valued at about $153,000. Institutional investors own 73.37% of the company’s stock.

WEC Energy Group stock opened at $67.15 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.44 and a current ratio of 0.59. The firm has a market cap of $21.56 billion and a PE ratio of 21.39. WEC Energy Group has a fifty-two week low of $58.48 and a fifty-two week high of $70.09.

The firm also recently announced a quarterly dividend, which was paid on Saturday, September 1st. Investors of record on Tuesday, August 14th were given a $0.5525 dividend. This represents a $2.21 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date was Monday, August 13th. WEC Energy Group’s payout ratio is presently 70.38%.

WEC Energy Group Company Profile

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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