WEC Energy Group (NYSE:WEC) Posts Quarterly Earnings Results, Beats Expectations By $0.04 EPS

WEC Energy Group (NYSE:WEC) issued its quarterly earnings results on Wednesday. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04, Briefing.com reports. The business had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.87 billion. WEC Energy Group had a return on equity of 12.26% and a net margin of 15.85%. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.92 earnings per share.

WEC Energy Group Stock Performance

NYSE:WEC opened at $90.16 on Friday. The stock’s 50-day moving average is $80.49 and its 200-day moving average is $80.66. WEC Energy Group has a 1-year low of $75.13 and a 1-year high of $92.23. The company has a current ratio of 0.74, a quick ratio of 0.42 and a debt-to-equity ratio of 1.37. The stock has a market cap of $28.50 billion, a P/E ratio of 19.69, a price-to-earnings-growth ratio of 2.29 and a beta of 0.41.

WEC Energy Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Wednesday, August 14th will be paid a dividend of $0.835 per share. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date of this dividend is Wednesday, August 14th. WEC Energy Group’s payout ratio is 72.93%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. BMO Capital Markets raised their price target on WEC Energy Group from $87.00 to $91.00 and gave the stock a “market perform” rating in a research report on Thursday. StockNews.com upgraded shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Thursday. Barclays upped their price target on shares of WEC Energy Group from $78.00 to $80.00 and gave the stock an “underweight” rating in a report on Monday, July 22nd. Scotiabank decreased their price objective on shares of WEC Energy Group from $96.00 to $90.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 22nd. Finally, KeyCorp cut their target price on WEC Energy Group from $96.00 to $95.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Three analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $86.85.

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.