WEC Energy Group, Inc. Plans Quarterly Dividend of $0.89 (NYSE:WEC)

WEC Energy Group, Inc. (NYSE:WEC - Get Free Report) declared a quarterly dividend on Thursday, July 17th, RTT News reports. Stockholders of record on Thursday, August 14th will be paid a dividend of 0.8925 per share by the utilities provider on Monday, September 1st. This represents a $3.57 annualized dividend and a dividend yield of 3.36%.

WEC Energy Group has a payout ratio of 63.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect WEC Energy Group to earn $5.58 per share next year, which means the company should continue to be able to cover its $3.57 annual dividend with an expected future payout ratio of 64.0%.

WEC Energy Group Trading Up 0.2%

Shares of WEC traded up $0.22 during trading hours on Thursday, hitting $106.35. 1,609,737 shares of the stock traded hands, compared to its average volume of 2,156,921. The company has a current ratio of 0.50, a quick ratio of 0.40 and a debt-to-equity ratio of 1.23. WEC Energy Group has a 1-year low of $81.13 and a 1-year high of $111.00. The business has a fifty day moving average of $105.29 and a 200-day moving average of $104.06. The firm has a market capitalization of $33.94 billion, a PE ratio of 20.73, a price-to-earnings-growth ratio of 2.92 and a beta of 0.44.

WEC Energy Group (NYSE:WEC - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The utilities provider reported $2.27 EPS for the quarter, topping the consensus estimate of $2.18 by $0.09. The business had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $2.81 billion. WEC Energy Group had a return on equity of 12.94% and a net margin of 17.95%. The firm's revenue was up 17.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.97 EPS. Analysts expect that WEC Energy Group will post 5.23 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. raised shares of WEC Energy Group from an "underweight" rating to a "neutral" rating and upped their target price for the stock from $106.00 to $108.00 in a research note on Tuesday, April 8th. Wall Street Zen lowered shares of WEC Energy Group from a "hold" rating to a "sell" rating in a research note on Saturday, July 12th. Wells Fargo & Company increased their price target on shares of WEC Energy Group from $115.00 to $124.00 and gave the company an "overweight" rating in a research note on Wednesday, May 7th. The Goldman Sachs Group cut shares of WEC Energy Group from a "neutral" rating to a "sell" rating and cut their price target for the company from $106.00 to $100.00 in a research note on Wednesday, June 25th. Finally, Barclays increased their price target on shares of WEC Energy Group from $99.00 to $101.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 29th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, WEC Energy Group currently has an average rating of "Hold" and an average price target of $106.40.

Insider Activity at WEC Energy Group

In other WEC Energy Group news, VP Joshua M. Erickson sold 2,155 shares of the company's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $107.77, for a total value of $232,244.35. Following the transaction, the vice president directly owned 2,686 shares in the company, valued at $289,470.22. The trade was a 44.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On WEC Energy Group

A hedge fund recently raised its stake in WEC Energy Group stock. Woodline Partners LP lifted its stake in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 41.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 26,839 shares of the utilities provider's stock after purchasing an additional 7,841 shares during the quarter. Woodline Partners LP's holdings in WEC Energy Group were worth $2,925,000 as of its most recent SEC filing. 77.20% of the stock is currently owned by institutional investors and hedge funds.

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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