WEC Energy Group (NYSE:WEC – Get Free Report) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 4.800-4.900 for the period, compared to the consensus earnings per share 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 Down 0.5 %
Shares of WEC stock traded down $0.43 during mid-day trading on Tuesday, hitting $79.47. The stock had a trading volume of 498,240 shares, compared to its average volume of 2,288,300. WEC Energy Group has a 12-month low of $75.13 and a 12-month high of $99.26. The firm has a market capitalization of $25.07 billion, a P/E ratio of 18.93, a price-to-earnings-growth ratio of 2.78 and a beta of 0.40. 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 firm’s 50-day moving average is $79.56 and its two-hundred day moving average is $81.81.
WEC Energy Group (NYSE:WEC – Get Free Report) last issued its quarterly earnings results on Thursday, February 1st. The utilities provider reported $1.10 earnings per share 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 company had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.82 billion. During the same quarter in the prior year, the business earned $0.80 EPS. WEC Energy Group’s revenue was down 13.3% on a year-over-year basis. On average, analysts predict that WEC Energy Group will post 4.88 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Read Our Latest Stock Report on WEC
Insider Activity
In other news, CEO Scott J. Lauber sold 2,830 shares of WEC Energy Group 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 transaction, the chief executive officer now owns 43,125 shares of the company’s stock, valued at $3,402,131.25. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Chairman Gale E. Klappa sold 37,180 shares of WEC Energy Group 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 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Scott J. Lauber sold 2,830 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $78.89, for a total value of $223,258.70. Following the sale, the chief executive officer now owns 43,125 shares of the company’s stock, valued at $3,402,131.25. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.
Institutional Trading of WEC Energy Group
Large investors have recently modified their holdings of the business. Achmea Investment Management B.V. bought a new position in shares of WEC Energy Group during the first quarter valued at $27,000. First Manhattan Co. boosted its stake in 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 in the last quarter. Sunbelt Securities Inc. acquired a new stake in shares of WEC Energy Group in the first quarter worth approximately $44,000. Quarry LP grew its position in WEC Energy Group by 373.3% in the second quarter. Quarry LP now owns 549 shares of the utilities provider’s stock worth $48,000 after acquiring an additional 433 shares during the period. Finally, Fairfield Bush & CO. acquired a new stake in WEC Energy Group during the 2nd quarter worth approximately $57,000. Institutional investors own 77.20% of the company’s stock.
WEC Energy Group Company Profile
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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