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WEC Energy Group (NYSE:WEC) Updates Q2 2021 Earnings Guidance

Tuesday, May 4, 2021 | MarketBeat

WEC Energy Group (NYSE:WEC) issued an update on its second quarter 2021 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 0.750-0.770 for the period, compared to the Thomson Reuters consensus estimate of $0.770. The company issued revenue guidance of -.WEC Energy Group also updated its FY 2021 guidance to 4.030-4.030 EPS.

WEC traded down $0.14 during trading on Tuesday, reaching $97.86. 1,344,754 shares of the company traded hands, compared to its average volume of 1,347,754. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.36 and a current ratio of 0.49. WEC Energy Group has a 12-month low of $80.55 and a 12-month high of $106.85. The firm has a fifty day simple moving average of $93.81 and a 200 day simple moving average of $92.23. The company has a market cap of $30.87 billion, a P/E ratio of 26.45, a PEG ratio of 4.51 and a beta of 0.18.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data on Sunday, May 2nd. The utilities provider reported $1.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.47 by $0.14. WEC Energy Group had a net margin of 16.26% and a return on equity of 11.36%. The business had revenue of $2.69 billion during the quarter, compared to analyst estimates of $2.22 billion. During the same period last year, the firm posted $1.43 EPS. The company's revenue was up 27.6% on a year-over-year basis. As a group, sell-side analysts expect that WEC Energy Group will post 3.75 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 1st. Shareholders of record on Friday, May 14th will be issued a dividend of $0.6775 per share. This represents a $2.71 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date is Thursday, May 13th. WEC Energy Group's dividend payout ratio (DPR) is currently 75.70%.

WEC has been the subject of a number of research analyst reports. Barclays raised shares of WEC Energy Group from an underweight rating to an equal weight rating and set a $107.00 price objective for the company in a report on Wednesday, January 13th. Mizuho initiated coverage on WEC Energy Group in a research report on Wednesday, April 14th. They set a neutral rating and a $94.00 target price for the company. Finally, Wells Fargo & Company upgraded WEC Energy Group from an equal weight rating to an overweight rating and lowered their target price for the company from $94.00 to $93.00 in a research report on Wednesday, March 10th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. WEC Energy Group currently has a consensus rating of Hold and an average price target of $95.45.

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. The company operates through six segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure, and Corporate and Other.

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