WEC Energy Group (WEC) Set to Announce Quarterly Earnings on Wednesday

WEC Energy Group (NYSE:WEC) is scheduled to be issuing its quarterly earnings data before the market opens on Wednesday, July 31st. Analysts expect the company to announce earnings of $0.72 per share for the quarter. WEC Energy Group has set its FY24 guidance at $4.80-4.90 EPS.Parties interested in registering for the company’s conference call can do so using this link.

WEC Energy Group (NYSE:WEC) last announced its earnings results on Wednesday, May 1st. The utilities provider reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.07. The company had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.92 billion. WEC Energy Group had a net margin of 16.67% and a return on equity of 13.01%. WEC Energy Group’s revenue was down 7.2% compared to the same quarter last year. During the same period last year, the firm earned $1.61 earnings per share. On average, analysts expect WEC Energy Group to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.

WEC Energy Group Price Performance

Shares of WEC opened at $84.13 on Tuesday. The company has a 50 day moving average of $80.04 and a two-hundred day moving average of $80.50. The company has a market cap of $26.57 billion, a price-to-earnings ratio of 18.37, a price-to-earnings-growth ratio of 2.16 and a beta of 0.41. WEC Energy Group has a twelve month low of $75.13 and a twelve month high of $91.44. The company has a quick ratio of 0.42, a current ratio of 0.55 and a debt-to-equity ratio of 1.24.

WEC Energy Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Wednesday, August 14th will be issued a $0.835 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.97%. WEC Energy Group’s dividend payout ratio is currently 72.93%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on WEC. The Goldman Sachs Group began coverage on shares of WEC Energy Group in a report on Wednesday, April 10th. They issued a “neutral” rating and a $88.00 price target for the company. KeyCorp reduced their target price on shares of WEC Energy Group from $96.00 to $95.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. BMO Capital Markets dropped their price target on shares of WEC Energy Group from $90.00 to $87.00 and set a “market perform” rating on the stock in a research report on Monday, July 22nd. Scotiabank dropped 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, Barclays raised their price target on shares of WEC Energy Group from $78.00 to $80.00 and gave the company an “underweight” rating in a research report on Monday, July 22nd. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, WEC Energy Group has a consensus rating of “Hold” and an average target price of $86.00.

WEC Energy Group Company Profile

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.