WEC Energy Group (WEC) Issues Revenue Results, Beats Awaitations By $0.01 EPS

WEC Energy Group (WEC) Issues  Revenue Results, Beats Awaitations By $0.01 EPS

WEC Energy Group (NYSE:WEC) posted its quarterly earnings data on Tuesday. The utilities provider reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.01, MarketWatch Earnings reports. WEC Energy Group had a net margin of 16.82% and a return on equity of 11.18%. The business had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter last year, the company posted $0.71 earnings per share. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. WEC Energy Group updated its FY 2019 guidance to $3.48-3.52 EPS and its FY19 guidance to $3.48 to $3.52 EPS.

WEC opened at $75.03 on Tuesday. The stock has a market capitalization of $23.58 billion, a PE ratio of 23.89, a price-to-earnings-growth ratio of 4.89 and a beta of 0.15. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.51 and a quick ratio of 0.34. WEC Energy Group has a twelve month low of $58.48 and a twelve month high of $75.48.

In other news, insider Joseph Kevin Fletcher sold 72,455 shares of WEC Energy Group stock in a transaction dated Tuesday, November 27th. The shares were sold at an average price of $70.65, for a total value of $5,118,945.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gale E. Klappa sold 10,000 shares of WEC Energy Group stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $72.48, for a total transaction of $724,800.00. The disclosure for this sale can be found here. Insiders sold 319,073 shares of company stock valued at $22,864,524 in the last quarter. Corporate insiders own 0.94% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Essex Investment Management Co. LLC bought a new position in shares of WEC Energy Group in the fourth quarter valued at approximately $30,000. We Are One Seven LLC bought a new position in shares of WEC Energy Group in the fourth quarter valued at approximately $30,000. Gantzert Investment Co. LLC ADV bought a new position in shares of WEC Energy Group in the fourth quarter valued at approximately $35,000. First Mercantile Trust Co. boosted its position in shares of WEC Energy Group by 68.6% in the fourth quarter. First Mercantile Trust Co. now owns 590 shares of the utilities provider’s stock valued at $41,000 after acquiring an additional 240 shares during the period. Finally, Mondrian Investment Partners LTD bought a new position in shares of WEC Energy Group in the fourth quarter valued at approximately $41,000. Institutional investors own 73.89% of the company’s stock.

A number of analysts recently issued reports on WEC shares. ValuEngine upgraded shares of WEC Energy Group from a “hold” rating to a “buy” rating in a report on Monday, November 12th. Zacks Investment Research upgraded shares of WEC Energy Group from a “hold” rating to a “buy” rating and set a $77.00 price objective for the company in a report on Wednesday, October 17th. Argus raised their price objective on shares of WEC Energy Group from $75.00 to $81.00 and gave the stock a “buy” rating in a report on Thursday, December 6th. Barclays raised their price objective on shares of WEC Energy Group from $71.00 to $73.00 and gave the stock a “hold” rating in a report on Monday, November 19th. Finally, Credit Suisse Group raised their price objective on shares of WEC Energy Group from $69.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, November 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. WEC Energy Group currently has an average rating of “Hold” and an average target price of $72.00.

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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