WEC Energy Group, Inc. (WEC) Set to Announce Earnings on Wednesday
WEC Energy Group, Inc. (NYSE:WEC) is scheduled to post its quarterly earnings results on Wednesday, October 25th. Analysts expect WEC Energy Group to post earnings of $0.72 per share for the quarter. WEC Energy Group has set its FY17 guidance at $3.06-3.12 EPS and its Q3 guidance at $0.63-0.67 EPS.
WEC Energy Group (NYSE:WEC) last announced its earnings results on Wednesday, July 26th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.58 billion. WEC Energy Group had a return on equity of 10.75% and a net margin of 12.72%. WEC Energy Group’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.57 earnings per share. On average, analysts expect WEC Energy Group to post $3.10 EPS for the current fiscal year and $3.28 EPS for the next fiscal year.
WEC Energy Group, Inc. (WEC) opened at 65.50 on Wednesday. The firm has a market capitalization of $20.67 billion, a price-to-earnings ratio of 21.48 and a beta of 0.12. WEC Energy Group, Inc. has a 52-week low of $53.66 and a 52-week high of $67.20. The company’s 50-day moving average price is $64.80 and its 200 day moving average price is $62.87.
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Several brokerages recently commented on WEC. Zacks Investment Research raised WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Monday, August 28th. Goldman Sachs Group, Inc. (The) reaffirmed a “sell” rating and set a $58.00 price objective (down previously from $59.00) on shares of WEC Energy Group in a research note on Monday, June 26th. KeyCorp reaffirmed a “hold” rating on shares of WEC Energy Group in a research note on Friday, September 1st. Finally, BidaskClub raised WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. One analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. WEC Energy Group currently has an average rating of “Hold” and a consensus target price of $62.50.
In related news, Director Gale E. Klappa sold 100,500 shares of the firm’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $64.42, for a total transaction of $6,474,210.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Scott J. Lauber sold 1,500 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $65.00, for a total value of $97,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 192,190 shares of company stock worth $12,435,484 in the last ninety days. 0.97% of the stock is currently owned by company insiders.
WEC Energy Group Company Profile
WEC Energy Group, Inc was a diversified holding company with natural gas and electric utility operations, an approximately 60% equity ownership interest in American Transmission Company LLC, and non-utility electric operations through its We Power business, as of December 31, 2016. Its segments include Wisconsin; Illinois; Other States; Electric Transmission; We Power, and Corporate and Other.
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