FY2025 EPS Estimates for WEC Energy Group Boosted by KeyCorp

WEC Energy Group, Inc. (NYSE:WEC) – KeyCorp upped their FY2025 earnings per share (EPS) estimates for shares of WEC Energy Group in a research report issued to clients and investors on Tuesday, December 3rd. KeyCorp analyst S. Karp now anticipates that the utilities provider will post earnings of $5.27 per share for the year, up from their previous forecast of $5.15. KeyCorp currently has a “Overweight” rating and a $109.00 target price on the stock. The consensus estimate for WEC Energy Group’s current full-year earnings is $4.87 per share.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.12. The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.93 billion. WEC Energy Group had a return on equity of 11.72% and a net margin of 15.14%. The company’s revenue was down 4.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.00 EPS.

Several other equities research analysts also recently commented on the company. Bank of America raised their target price on WEC Energy Group from $88.00 to $90.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. Wells Fargo & Company raised their target price on WEC Energy Group from $103.00 to $106.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. BMO Capital Markets raised their target price on WEC Energy Group from $97.00 to $104.00 and gave the company a “market perform” rating in a report on Monday. Jefferies Financial Group began coverage on WEC Energy Group in a report on Thursday, September 19th. They set a “hold” rating and a $102.00 target price on the stock. Finally, Scotiabank lifted their price objective on WEC Energy Group from $90.00 to $103.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $95.55.

WEC Energy Group Stock Performance

NYSE WEC opened at $98.35 on Thursday. The firm has a market capitalization of $31.11 billion, a P/E ratio of 24.05, a P/E/G ratio of 2.67 and a beta of 0.46. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.65 and a quick ratio of 0.46. WEC Energy Group has a 1-year low of $75.13 and a 1-year high of $102.79. The business’s 50-day simple moving average is $97.57 and its 200-day simple moving average is $89.74.

Hedge Funds Weigh In On WEC Energy Group

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Global X Japan Co. Ltd. grew its stake in shares of WEC Energy Group by 58.1% in the second quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 118 shares in the last quarter. Coastline Trust Co bought a new position in shares of WEC Energy Group in the third quarter worth $29,000. William B. Walkup & Associates Inc. bought a new position in shares of WEC Energy Group in the second quarter worth $31,000. Triad Wealth Partners LLC bought a new position in shares of WEC Energy Group in the second quarter worth $36,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in shares of WEC Energy Group in the second quarter worth $38,000. 77.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at WEC Energy Group

In related news, CEO Scott J. Lauber sold 6,720 shares of WEC Energy Group stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $100.89, for a total value of $677,980.80. Following the sale, the chief executive officer now directly owns 45,709 shares in the company, valued at $4,611,581.01. This trade represents a 12.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gale E. Klappa sold 1,805 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $99.40, for a total transaction of $179,417.00. Following the completion of the transaction, the director now owns 273,248 shares of the company’s stock, valued at approximately $27,160,851.20. This trade represents a 0.66 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,794 shares of company stock worth $4,866,579. 0.34% of the stock is currently owned by corporate insiders.

WEC Energy Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Thursday, November 14th were given a $0.835 dividend. The ex-dividend date was Thursday, November 14th. This represents a $3.34 annualized dividend and a dividend yield of 3.40%. WEC Energy Group’s payout ratio is 81.66%.

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.