WEC Energy Group (NYSE:WEC – Get Free Report) announced its earnings results on Thursday. The utilities provider reported $0.82 EPS for the quarter, topping the consensus estimate of $0.70 by $0.12, Briefing.com reports. The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.93 billion. WEC Energy Group had a net margin of 15.85% and a return on equity of 12.26%. The business’s quarterly revenue was down 4.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.00 EPS. WEC Energy Group updated its FY 2024 guidance to 4.800-4.900 EPS and its FY24 guidance to $4.80 to $4.90 EPS.
WEC Energy Group Price Performance
WEC stock traded up $0.04 during trading on Friday, hitting $95.57. The company had a trading volume of 3,176,919 shares, compared to its average volume of 2,153,283. The company has a fifty day moving average price of $95.49 and a two-hundred day moving average price of $87.07. The company has a current ratio of 0.74, a quick ratio of 0.54 and a debt-to-equity ratio of 1.37. The company has a market cap of $30.21 billion, a P/E ratio of 22.05, a P/E/G ratio of 2.47 and a beta of 0.44. WEC Energy Group has a fifty-two week low of $75.13 and a fifty-two week high of $100.31.
WEC Energy Group Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 14th will be paid a $0.835 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.34 annualized dividend and a dividend yield of 3.49%. WEC Energy Group’s dividend payout ratio is currently 77.14%.
Wall Street Analyst Weigh In
Get Our Latest Stock Analysis on WEC Energy Group
Insider Buying and Selling at WEC Energy Group
In other WEC Energy Group news, Director Ulice Payne, Jr. sold 750 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $88.45, for a total transaction of $66,337.50. Following the sale, the director now directly owns 21,876 shares of the company’s stock, valued at approximately $1,934,932.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP William J. Guc sold 6,000 shares of WEC Energy Group stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $92.99, for a total value of $557,940.00. Following the completion of the transaction, the vice president now directly owns 7,702 shares of the company’s stock, valued at $716,208.98. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ulice Payne, Jr. sold 750 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $88.45, for a total transaction of $66,337.50. Following the completion of the sale, the director now owns 21,876 shares of the company’s stock, valued at $1,934,932.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,702 shares of company stock valued at $1,078,058. 0.34% of the stock is currently owned by company insiders.
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.
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