WEC Energy Group Inc to Issue Quarterly Dividend of $0.55 (WEC)
WEC Energy Group Inc (NYSE:WEC) declared a quarterly dividend on Friday, July 20th, Wall Street Journal reports. Stockholders of record on Tuesday, August 14th will be given a dividend of 0.5525 per share by the utilities provider on Saturday, September 1st. This represents a $2.21 annualized dividend and a dividend yield of 3.41%. The ex-dividend date is Monday, August 13th.
WEC Energy Group has raised its dividend by an average of 10.1% per year over the last three years and has raised its dividend annually for the last 7 consecutive years. WEC Energy Group has a payout ratio of 67.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect WEC Energy Group to earn $3.50 per share next year, which means the company should continue to be able to cover its $2.21 annual dividend with an expected future payout ratio of 63.1%.
Shares of WEC Energy Group traded down $0.40, hitting $64.84, on Friday, Marketbeat.com reports. 1,554,246 shares of the stock were exchanged, compared to its average volume of 1,838,142. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.45 and a current ratio of 0.55. The company has a market capitalization of $20.42 billion, a price-to-earnings ratio of 20.60, a PEG ratio of 4.75 and a beta of 0.08. WEC Energy Group has a one year low of $58.48 and a one year high of $70.09.
Several research analysts have recently weighed in on WEC shares. Bank of America upgraded WEC Energy Group from a “neutral” rating to a “buy” rating in a research note on Friday, June 1st. ValuEngine downgraded WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Thursday, June 7th. Barclays began coverage on WEC Energy Group in a research note on Tuesday, July 10th. They set an “equal weight” rating and a $71.00 price target for the company. Zacks Investment Research cut WEC Energy Group from a “hold” rating to a “sell” rating in a report on Saturday, April 7th. Finally, Credit Suisse Group increased their price objective on WEC Energy Group from $65.00 to $67.00 and gave the stock a “neutral” rating in a report on Wednesday, May 2nd. Nine equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. WEC Energy Group presently has an average rating of “Hold” and an average price target of $68.00.
In related news, Director Ulice Payne, Jr. sold 1,600 shares of the stock in a transaction dated Friday, May 4th. The stock was sold at an average price of $64.45, for a total transaction of $103,120.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.97% of the company’s stock.
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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