Zacks Research Comments on WEC Energy Group, Inc.’s Q1 2024 Earnings (NYSE:WEC)

WEC Energy Group, Inc. (NYSE:WEC) – Equities researchers at Zacks Research issued their Q1 2024 earnings estimates for shares of WEC Energy Group in a note issued to investors on Thursday, April 25th. Zacks Research analyst R. Department anticipates that the utilities provider will post earnings per share of $1.85 for the quarter. The consensus estimate for WEC Energy Group’s current full-year earnings is $4.87 per share. Zacks Research also issued estimates for WEC Energy Group’s Q3 2025 earnings at $0.92 EPS.

WEC has been the topic of a number of other research reports. The Goldman Sachs Group initiated coverage on WEC Energy Group in a research note on Wednesday, April 10th. They set a “neutral” rating and a $88.00 price target on the stock. StockNews.com downgraded shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Saturday, January 13th. Barclays cut their price objective on shares of WEC Energy Group from $79.00 to $75.00 and set an “underweight” rating on the stock in a report on Thursday, February 8th. JPMorgan Chase & Co. lowered shares of WEC Energy Group from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $90.00 to $84.00 in a research report on Friday, February 2nd. Finally, Wells Fargo & Company lowered their price target on WEC Energy Group from $93.00 to $91.00 and set an “overweight” rating for the company in a research report on Friday, February 2nd. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $86.64.

WEC Energy Group Trading Up 1.6 %

Shares of WEC Energy Group stock opened at $82.80 on Monday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.55 and a quick ratio of 0.40. The business has a 50 day moving average price of $80.34 and a 200 day moving average price of $81.42. The company has a market capitalization of $26.12 billion, a P/E ratio of 19.62, a P/E/G ratio of 2.82 and a beta of 0.40. WEC Energy Group has a 1 year low of $75.13 and a 1 year high of $97.34.

WEC Energy Group (NYSE:WEC) last issued its earnings results on Thursday, February 1st. The utilities provider reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.02. The company had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.82 billion. WEC Energy Group had a net margin of 14.98% and a return on equity of 12.17%. The firm’s quarterly revenue was down 13.3% compared to the same quarter last year. During the same period last year, the company posted $0.80 earnings per share.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Northwest Bank & Trust Co acquired a new position in WEC Energy Group during the fourth quarter worth $25,000. Opal Wealth Advisors LLC bought a new stake in WEC Energy Group during the 1st quarter worth approximately $25,000. Tennessee Valley Asset Management Partners acquired a new stake in WEC Energy Group during the 4th quarter valued at $26,000. Valued Wealth Advisors LLC bought a new position in WEC Energy Group in the 4th quarter valued at $28,000. Finally, First United Bank & Trust acquired a new stake in shares of WEC Energy Group in the fourth quarter valued at $30,000. Institutional investors own 77.20% of the company’s stock.

Insider Transactions at WEC Energy Group

In other news, CEO Scott J. Lauber sold 2,830 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $78.89, for a total transaction of $223,258.70. Following the sale, the chief executive officer now owns 43,125 shares in the company, valued at $3,402,131.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Scott J. Lauber sold 2,830 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $78.89, for a total value of $223,258.70. Following the transaction, the chief executive officer now directly owns 43,125 shares of the company’s stock, valued at $3,402,131.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Gale E. Klappa sold 37,180 shares of WEC Energy Group stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $78.69, for a total value of $2,925,694.20. Following the sale, the chairman now owns 274,782 shares of the company’s stock, valued at $21,622,595.58. The disclosure for this sale can be found here. 0.44% of the stock is owned by insiders.

WEC Energy Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 14th will be issued a $0.835 dividend. This represents a $3.34 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date of this dividend is Monday, May 13th. WEC Energy Group’s payout ratio is 79.15%.

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.