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. It generates and distributes electricity from coal, natural gas, oil, hydroelectric, wind, solar, and biomass sources; provides electric transmission services; offers retail natural gas distribution services; transports natural gas; and generates, distributes, and sells steam. As of December 31, 2021, it operated approximately 35,800 miles of overhead distribution lines and 35,600 miles of underground distribution cables, as well as 440 electric distribution substations and 510,500 line transformers; 50,900 miles of natural gas distribution mains; 1,200 miles of natural gas transmission mains; 2.3 million natural gas lateral services; 500 natural gas distribution and transmission gate stations; and 68.2 billion cubic feet of working gas capacities in underground natural gas storage fields. The company was formerly known as Wisconsin Energy Corporation and changed its name to WEC Energy Group, Inc. in June 2015. WEC Energy Group, Inc. was incorporated in 1981 and is headquartered in Milwaukee, Wisconsin.
WEC Energy Group Price Performance
WEC Energy Group stock traded up $0.47 during trading hours on Monday, hitting $106.11. The stock had a trading volume of 54,421 shares, compared to its average volume of 1,478,199. WEC Energy Group has a 1-year low of $86.84 and a 1-year high of $108.39. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.69 and a quick ratio of 0.54. The stock's fifty day moving average is $99.68 and its two-hundred day moving average is $98.89. The stock has a market capitalization of $33.47 billion, a price-to-earnings ratio of 24.40, a PEG ratio of 3.96 and a beta of 0.28.
WEC Energy Group (NYSE:WEC - Get Rating) last announced its earnings results on Tuesday, August 2nd. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.79 by $0.12. WEC Energy Group had a net margin of 15.23% and a return on equity of 12.15%. The company had revenue of $2.13 billion during the quarter, compared to analysts' expectations of $1.76 billion. During the same quarter in the previous year, the business posted $0.87 earnings per share. The firm's quarterly revenue was up 26.9% compared to the same quarter last year. As a group, analysts predict that WEC Energy Group will post 4.39 earnings per share for the current fiscal year.
WEC Energy Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Friday, August 12th will be paid a dividend of $0.7275 per share. This represents a $2.91 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend is Thursday, August 11th. WEC Energy Group's payout ratio is 67.21%.
Analyst Upgrades and Downgrades
WEC has been the subject of several recent research reports. Credit Suisse Group downgraded shares of WEC Energy Group from a "neutral" rating to an "underperform" rating and decreased their target price for the stock from $108.00 to $98.00 in a research note on Wednesday, July 20th. Barclays dropped their target price on WEC Energy Group from $108.00 to $104.00 and set an "equal weight" rating on the stock in a report on Monday, July 18th. Wells Fargo & Company lifted their price objective on shares of WEC Energy Group from $111.00 to $114.00 and gave the company an "overweight" rating in a research report on Wednesday, August 3rd. Mizuho cut their price objective on shares of WEC Energy Group from $107.00 to $93.00 and set a "neutral" rating for the company in a research report on Friday, June 17th. Finally, Bank of America raised shares of WEC Energy Group from a "neutral" rating to a "buy" rating and set a $109.00 target price on the stock in a report on Friday, May 13th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, WEC Energy Group has an average rating of "Hold" and an average price target of $102.50.
Insider Buying and Selling
In other WEC Energy Group news, EVP Molly A. Mulroy sold 5,600 shares of the stock in a transaction on Thursday, May 19th. The stock was sold at an average price of $103.23, for a total transaction of $578,088.00. Following the transaction, the executive vice president now owns 1,842 shares of the company's stock, valued at approximately $190,149.66. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Robert M. Garvin sold 31,480 shares of WEC Energy Group stock in a transaction on Friday, June 3rd. The shares were sold at an average price of $104.21, for a total transaction of $3,280,530.80. Following the transaction, the executive vice president now owns 11,062 shares in the company, valued at approximately $1,152,771.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Molly A. Mulroy sold 5,600 shares of the firm's stock in a transaction dated Thursday, May 19th. The shares were sold at an average price of $103.23, for a total value of $578,088.00. Following the completion of the transaction, the executive vice president now directly owns 1,842 shares in the company, valued at $190,149.66. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 48,496 shares of company stock worth $5,053,510. 0.34% of the stock is owned by insiders.
