$2.69 billion in sales expected for WEC Energy Group, Inc. (NYSE: WEC) this quarter

Wall Street analysts expect WEC Energy Group, Inc. (NYSE:WEC) to report revenue of $2.69 billion for the current quarter, according to Zacks. Four analysts provided earnings estimates for WEC Energy Group, with the lowest sales estimate of $2.40 billion and the highest estimate of $2.91 billion. WEC Energy Group also posted sales of $2.69 billion in the same quarter last year. The company is expected to release its next quarterly results on Monday, May 2.

On average, analysts expect WEC Energy Group to report annual revenue of $8.22 billion in the current fiscal year, with estimates ranging from $7.36 billion to $9.18 billion. billions of dollars. For the next fiscal year, analysts expect the company to post sales of $8.45 billion, with estimates ranging from $7.45 billion to $9.48 billion. Zacks Investment Research sales averages are an average based on a survey of analysts who track WEC Energy Group.

WEC Energy Group (NYSE:WEC) last released its quarterly results on Thursday, February 3. The utility provider reported EPS of $0.71 for the quarter, beating analyst consensus estimates of $0.68 by $0.03. WEC Energy Group achieved a net margin of 16.35% and a return on equity of 12.06%. The company posted revenue of $2.20 billion for the quarter, versus a consensus estimate of $1.86 billion. During the same period of the previous year, the company achieved EPS of $0.76. WEC Energy Group revenue increased 13.9% year-over-year.

Several analysts commented on WEC’s actions. Evercore ISI reissued a “hold” rating and published a price target of $97.00 on WEC Energy Group shares in a research report on Friday, February 4. BMO Capital Markets reiterated a “hold” rating and set a price target of $98.00 on WEC Energy Group shares in a Friday, Feb. 4 research note. Goldman Sachs has upgraded WEC Energy Group shares from a “sell” rating to a “neutral” rating and set a target price of $99.00 for the company in a Thursday, January 13 research note. Wells Fargo & Company cut its price target on WEC Energy Group stock from $110.00 to $105.00 and set an “overweight” rating for the company in a Wednesday, Nov. 3 research note. Finally, Scotiabank upgraded the shares of WEC Energy Group from a “sector outperform” rating to an “sector outperform” rating and raised its target price for the company from $104.00 to $109.00. $ in a research note from Wednesday, November 3. Six investment analysts gave the stock a hold rating and four gave the company a buy rating. According to MarketBeat, WEC Energy Group currently has an average rating of “Hold” and a consensus target price of $100.22.

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Shares of WEC Energy Group opened at $90.00 on Friday. The company’s 50-day simple moving average is $95.06 and its 200-day simple moving average is $93.04. WEC Energy Group has a fifty-two week low of $80.55 and a fifty-two week high of $99.86. The company has a market capitalization of $28.39 billion, a P/E ratio of 21.63, a price-to-earnings growth ratio of 3.58 and a beta of 0.25. The company has a debt ratio of 1.14, a current ratio of 0.65 and a quick ratio of 0.48.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 1. Shareholders of record on Monday, February 14 will receive a dividend of $0.728. This is a positive change from WEC Energy Group’s previous quarterly dividend of $0.68. The ex-date of this dividend is Friday, February 11. This represents an annualized dividend of $2.91 and a dividend yield of 3.24%. WEC Energy Group’s dividend payout ratio is currently 69.95%.

In other WEC Energy Group news, insider Tom Metcalfe sold 8,265 shares in a trade dated Monday, November 22. The shares were sold at an average price of $91.04, for a total transaction of $752,445.60. The sale was disclosed in a document filed with the SEC, accessible via this link. 0.30% of the shares are currently held by insiders.

Institutional investors have recently increased or reduced their stake in the company. McDonough Capital Management Inc acquired a new stake in WEC Energy Group stock in Q4 valued at approximately $437,000. Rather & Kittrell Inc. acquired a new stake in WEC Energy Group stock in Q4 worth approximately $77,000. Forum Financial Management LP acquired a new stake in WEC Energy Group during the 4th quarter for a value of approximately $487,000. V Wealth Advisors LLC increased its stake in WEC Energy Group by 97.5% during the 4th quarter. V Wealth Advisors LLC now owns 2,637 shares of the utility provider worth $256,000 after purchasing an additional 1,302 shares during the period. Finally, NewEdge Advisors LLC increased its stake in WEC Energy Group by 55.4% during the 4th quarter. NewEdge Advisors LLC now owns 48,737 shares of the utility provider worth $4,731,000 after purchasing an additional 17,381 shares during the period. Institutional investors hold 72.83% of the company’s shares.

WEC Energy Group Company Profile

WEC Energy Group, Inc is a holding company engaged in the generation and distribution of electricity and natural gas. It operates through the following segments: Wisconsin, Illinois, Other States, Power Transmission, Non-Utility Energy Infrastructure and Enterprises and Others. The Wisconsin segment refers to electric and gas utility operations.

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