WEC Energy Group (NYSE:WEC) Updates FY25 Earnings Guidance

WEC Energy Group (NYSE:WEC) issued an update on its FY25 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $5.17-$5.27 for the period, compared to the consensus estimate of $5.23.

WEC Energy Group Trading Down 0.6 %

NYSE:WEC opened at $97.09 on Friday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.65 and a quick ratio of 0.46. WEC Energy Group has a one year low of $75.13 and a one year high of $102.79. The company has a market cap of $30.71 billion, a PE ratio of 23.74, a PEG ratio of 2.67 and a beta of 0.46. The firm has a 50-day moving average of $97.63 and a 200-day moving average of $89.80.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.12. The business had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.93 billion. WEC Energy Group had a net margin of 15.14% and a return on equity of 11.72%. The firm’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.00 earnings per share. As a group, equities research analysts expect that WEC Energy Group will post 4.88 EPS for the current fiscal year.

WEC Energy Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 14th will be given a $0.8925 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $3.57 annualized dividend and a dividend yield of 3.68%. This is a positive change from WEC Energy Group’s previous quarterly dividend of $0.84. WEC Energy Group’s payout ratio is 81.66%.

Analyst Upgrades and Downgrades

Several research firms recently commented on WEC. Bank of America boosted their target price on WEC Energy Group from $88.00 to $90.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. StockNews.com upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Jefferies Financial Group started coverage on WEC Energy Group in a research note on Thursday, September 19th. They issued a “hold” rating and a $102.00 target price for the company. Barclays raised their price objective on WEC Energy Group from $86.00 to $89.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. Finally, KeyCorp increased their price objective on WEC Energy Group from $108.00 to $109.00 and gave the company an “overweight” rating in a research note on Wednesday. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, WEC Energy Group currently has a consensus rating of “Hold” and an average price target of $95.55.

Insider Activity at WEC Energy Group

In related news, Director Gale E. Klappa sold 40,269 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $99.56, for a total value of $4,009,181.64. Following the completion of the sale, the director now directly owns 273,248 shares in the company, valued at $27,204,570.88. This trade represents a 12.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Scott J. Lauber sold 6,720 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $100.89, for a total transaction of $677,980.80. Following the transaction, the chief executive officer now owns 45,709 shares in the company, valued at $4,611,581.01. This trade represents a 12.82 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 48,794 shares of company stock worth $4,866,579. 0.34% of the stock is owned by corporate 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.