WEC Energy Group (NYSE:WEC) Announces Quarterly Earnings Results, Beats Expectations By $0.09 EPS

WEC Energy Group (NYSE:WEC - Get Free Report) announced its quarterly earnings data on Tuesday. The utilities provider reported $2.27 EPS for the quarter, topping analysts' consensus estimates of $2.18 by $0.09, Zacks reports. The business had revenue of $3.15 billion for the quarter, compared to analyst estimates of $2.81 billion. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. The firm's revenue for the quarter was up 17.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.97 earnings per share. WEC Energy Group updated its FY 2025 guidance to 5.170-5.270 EPS.

WEC Energy Group Stock Performance

NYSE WEC traded down $0.31 on Friday, reaching $107.65. The stock had a trading volume of 2,308,106 shares, compared to its average volume of 2,148,744. WEC Energy Group has a 1-year low of $77.47 and a 1-year high of $111.00. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.60 and a quick ratio of 0.43. The company has a market cap of $34.35 billion, a P/E ratio of 22.29, a price-to-earnings-growth ratio of 2.60 and a beta of 0.46. The firm has a fifty day moving average of $107.08 and a two-hundred day moving average of $101.44.

WEC Energy Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 14th will be issued a dividend of $0.8975 per share. This is a boost from WEC Energy Group's previous quarterly dividend of $0.84. This represents a $3.59 annualized dividend and a yield of 3.33%. The ex-dividend date is Wednesday, May 14th. WEC Energy Group's dividend payout ratio (DPR) is presently 69.59%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on WEC shares. JPMorgan Chase & Co. upgraded WEC Energy Group from an "underweight" rating to a "neutral" rating and raised their price objective for the company from $106.00 to $108.00 in a report on Tuesday, April 8th. Scotiabank set a $115.00 target price on shares of WEC Energy Group and gave the stock an "outperform" rating in a report on Wednesday. BMO Capital Markets boosted their price objective on shares of WEC Energy Group from $95.00 to $100.00 and gave the stock a "market perform" rating in a research note on Wednesday, February 5th. StockNews.com upgraded WEC Energy Group from a "sell" rating to a "hold" rating in a report on Wednesday, April 16th. Finally, Barclays upped their price objective on 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. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $107.13.

Insider Activity

In other WEC Energy Group news, Director Ulice Payne, Jr. sold 1,150 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $104.17, for a total transaction of $119,795.50. Following the transaction, the director now owns 21,951 shares in the company, valued at $2,286,635.67. This represents a 4.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gale E. Klappa sold 25,000 shares of WEC Energy Group stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $108.62, for a total transaction of $2,715,500.00. Following the completion of the sale, the director now owns 274,955 shares of the company's stock, valued at approximately $29,865,612.10. The trade was a 8.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by company 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.