WEC Energy Group (NYSE:WEC – Get Free Report) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 4.800-4.900 for the period, compared to the consensus EPS estimate of 4.870. The company issued revenue guidance of -. WEC Energy Group also updated its FY24 guidance to $4.80-4.90 EPS.
WEC Energy Group Stock Performance
WEC opened at $82.12 on Friday. The firm has a market cap of $25.90 billion, a P/E ratio of 19.46, a PEG ratio of 2.83 and a beta of 0.40. WEC Energy Group has a 1-year low of $75.13 and a 1-year high of $99.26. The company has a 50 day simple moving average of $79.42 and a two-hundred day simple moving average of $81.74. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.55 and a quick ratio of 0.40.
WEC Energy Group (NYSE:WEC – Get Free Report) last released its earnings results on Thursday, February 1st. The utilities provider reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.02. WEC Energy Group had a return on equity of 12.17% and a net margin of 14.98%. The firm had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.82 billion. During the same quarter last year, the business posted $0.80 earnings per share. The firm’s revenue was down 13.3% on a year-over-year basis. Equities analysts forecast that WEC Energy Group will post 4.88 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Get Our Latest Analysis on WEC
Insider Buying and Selling at WEC Energy Group
In related news, Chairman Gale E. Klappa sold 37,180 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $78.69, for a total transaction of $2,925,694.20. Following the completion of the sale, the chairman now directly owns 274,782 shares of the company’s stock, valued at approximately $21,622,595.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Chairman Gale E. Klappa sold 37,180 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $78.69, for a total transaction of $2,925,694.20. Following the transaction, the chairman now directly owns 274,782 shares of the company’s stock, valued at $21,622,595.58. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 value of $223,258.70. Following the completion of the sale, the chief executive officer now owns 43,125 shares of the company’s stock, valued at approximately $3,402,131.25. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.
Hedge Funds Weigh In On WEC Energy Group
Several institutional investors have recently made changes to their positions in the company. Achmea Investment Management B.V. bought a new position in WEC Energy Group during the 1st quarter worth about $27,000. First Manhattan Co. lifted its position in shares of WEC Energy Group by 102.0% in the 4th quarter. First Manhattan Co. now owns 303 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 153 shares during the period. Sunbelt Securities Inc. purchased a new stake in shares of WEC Energy Group in the 1st quarter worth approximately $44,000. Quarry LP boosted its stake in shares of WEC Energy Group by 373.3% during the second quarter. Quarry LP now owns 549 shares of the utilities provider’s stock valued at $48,000 after purchasing an additional 433 shares in the last quarter. Finally, Fairfield Bush & CO. purchased a new position in WEC Energy Group during the second quarter valued at approximately $57,000. Hedge funds and other institutional investors own 77.20% of the company’s stock.
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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