WEC Energy Group Inc (NYSE:WEC) to Issue Dividend Increase – $0.63 Per Share

WEC Energy Group Inc (NYSE:WEC) declared a quarterly dividend on Thursday, December 5th, RTT News reports. Investors of record on Friday, February 14th will be given a dividend of 0.6325 per share by the utilities provider on Sunday, March 1st. This represents a $2.53 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend is Thursday, February 13th. This is a positive change from WEC Energy Group’s previous quarterly dividend of $0.59.

Shares of NYSE WEC opened at $89.07 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.63 and a quick ratio of 0.42. The company has a market cap of $28.10 billion, a price-to-earnings ratio of 26.67, a price-to-earnings-growth ratio of 4.09 and a beta of -0.03. The stock’s 50-day moving average is $90.31 and its two-hundred day moving average is $88.93. WEC Energy Group has a 1-year low of $66.75 and a 1-year high of $98.19.

WEC Energy Group (NYSE:WEC) last released its earnings results on Wednesday, November 6th. The utilities provider reported $0.74 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.03. The firm had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.68 billion. WEC Energy Group had a net margin of 14.32% and a return on equity of 10.91%. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.74 earnings per share. Equities research analysts anticipate that WEC Energy Group will post 3.53 earnings per share for the current fiscal year.

In other WEC Energy Group news, Director Barbara L. Bowles sold 1,000 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $88.07, for a total value of $88,070.00. Corporate insiders own 0.75% of the company’s stock.

Several research firms have commented on WEC. Credit Suisse Group lowered their price target on shares of WEC Energy Group from $85.00 to $81.00 and set an “underperform” rating for the company in a report on Wednesday, November 13th. Guggenheim downgraded shares of WEC Energy Group from a “buy” rating to a “neutral” rating in a research report on Wednesday, September 4th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of WEC Energy Group from a “hold” rating to a “buy” rating and set a $97.00 price objective on the stock in a report on Monday, September 16th. Wells Fargo & Co lifted their price objective on shares of WEC Energy Group from $93.00 to $102.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 27th. Finally, JPMorgan Chase & Co. began coverage on shares of WEC Energy Group in a research report on Tuesday, October 8th. They set a “neutral” rating and a $99.00 price objective for the company. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. WEC Energy Group currently has a consensus rating of “Hold” and a consensus price target of $86.80.

WEC Energy Group Company Profile

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.

Featured Article: Outperform Rating

Dividend History for WEC Energy Group (NYSE:WEC)

Receive News & Ratings for WEC Energy Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WEC Energy Group and related companies with MarketBeat.com's FREE daily email newsletter.