WEC Energy Group Inc (NYSE:WEC) declared a quarterly dividend on Thursday, July 18th, RTT News reports. Shareholders of record on Wednesday, August 14th will be paid a dividend of 0.59 per share by the utilities provider on Sunday, September 1st. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.73%.
WEC Energy Group has increased its dividend payment by an average of 8.2% per year over the last three years and has increased its dividend annually for the last 8 consecutive years. WEC Energy Group has a payout ratio of 71.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect WEC Energy Group to earn $3.74 per share next year, which means the company should continue to be able to cover its $2.36 annual dividend with an expected future payout ratio of 63.1%.
Shares of NYSE:WEC opened at $86.31 on Friday. WEC Energy Group has a 52 week low of $63.27 and a 52 week high of $87.91. The stock has a market cap of $27.71 billion, a PE ratio of 25.84, a P/E/G ratio of 4.27 and a beta of 0.13. The business has a fifty day simple moving average of $84.16. The company has a quick ratio of 0.58, a current ratio of 0.69 and a debt-to-equity ratio of 1.02.
WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data on Thursday, April 25th. The utilities provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.08. WEC Energy Group had a net margin of 14.03% and a return on equity of 11.06%. The business had revenue of $2.38 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same period last year, the company posted $1.23 EPS. The business’s revenue was up 4.0% on a year-over-year basis. On average, equities research analysts forecast that WEC Energy Group will post 3.5 earnings per share for the current year.
A number of brokerages have commented on WEC. Zacks Investment Research cut shares of Hope Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 26th. Wolfe Research set a $205.00 price target on shares of Raytheon and gave the stock a “buy” rating in a research note on Friday, April 26th. Scotiabank cut shares of WEC Energy Group from an “outperform” rating to a “sector perform” rating and lifted their price target for the stock from $76.00 to $78.00 in a research note on Wednesday, May 8th. Bank of America lifted their price target on shares of CarMax from $95.00 to $112.00 in a research note on Monday, June 24th. Finally, KeyCorp assumed coverage on shares of Southern in a research note on Tuesday, June 4th. They set a “sector weight” rating for the company. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $75.15.
In related news, Director Barbara L. Bowles sold 2,000 shares of WEC Energy Group stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $78.35, for a total transaction of $156,700.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP William J. Guc sold 4,481 shares of WEC Energy Group stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $78.10, for a total transaction of $349,966.10. The disclosure for this sale can be found here. Insiders have sold a total of 471,457 shares of company stock valued at $38,588,620 in the last quarter. 0.75% 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 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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