WEC Energy Group Inc (WEC) reported quarterly earnings results on Wednesday, Jul-27-2016. The company said it had a profit of $0.57 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $0.55. The company posted revenue of $1602.00 million in the period, compared to analysts expectations of $2063.35 million. The company’s revenue was up 61.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.58 EPS.
Many Wall Street Analysts have commented on WEC Energy Group Inc. Company shares were Upgraded by UBS on May 9, 2016 to ” Neutral”, Firm has raised the Price Target to $ 58 from a previous price target of $53 .
WEC Energy Group Inc opened for trading at $63.93 and hit $64.34 on the upside on Thursday, eventually ending the session at $64.17, with a gain of 0.28% or 0.18 points. The heightened volatility saw the trading volume jump to 11,83,946 shares. Company has a market cap of $20,255 M.
Investors should note that on Jul 21, 2016, WEC Energy Group Inc announced a cash dividend of $0.4950. The company’s management has announced Aug 10, 2016 as the ex-dividend date and fixed the record date on Aug 12, 2016. The payable date has been fixed on Sep 1, 2016.
In a different news, on Jun 6, 2016, Gale E Klappa (director) sold 22,000 shares at $61.53 per share price. According to the SEC, on Jun 3, 2016, Allen L Leverett (President and CEO) sold 68,210 shares at $60.30 per share price. On May 26, 2016, Joan M Shafer (Exec VP-HR & Org Effectiveness) sold 15,990 shares at $58.67 per share price, according to the Form-4 filing with the securities and exchange commission.
WEC Energy GroupInc. formerly Wisconsin Energy Corporation is a holding company. The Company operates through two segments: utility energy segment and non-utility energy segment. Its utility energy segment consists of Wisconsin Electric and Wisconsin Gas operating together under the trade name of We Energies. Its non-utility energy segment consists of We Power which owns and leases to Wisconsin Electric generation plants constructed as part of its Power the Future (PTF) strategy. Its other non-utility operations consist of the operations of its subsidiaries Wispark LLC and Bostco LLC. Its principal utilities include Wisconsin Public Service Peoples Gas North Shore Gas Michigan Gas Utilities and Minnesota Energy Resources among others. Its primary subsidiaries are Wisconsin Electric Power Company (Wisconsin Electric) Wisconsin Gas LLC (Wisconsin Gas) W.E. Power LLC (We Power) Integrys Energy Group Inc. and Integrys Holding Inc. among others.