WEC Energy Group, Inc. (NYSE:WEC) Plans $0.68 Quarterly Dividend

WEC Energy Group, Inc. (NYSE:WEC) declared a quarterly dividend on Thursday, April 15th, RTT News reports. Stockholders of record on Friday, May 14th will be given a dividend of 0.6775 per share by the utilities provider on Tuesday, June 1st. This represents a $2.71 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend is Thursday, May 13th.

WEC Energy Group has increased its dividend payment by 21.6% over the last three years and has raised its dividend every year for the last 1 years. WEC Energy Group has a payout ratio of 67.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect WEC Energy Group to earn $4.00 per share next year, which means the company should continue to be able to cover its $2.71 annual dividend with an expected future payout ratio of 67.8%.

NYSE:WEC opened at $96.44 on Wednesday. The business’s 50-day simple moving average is $95.10 and its 200-day simple moving average is $92.11. WEC Energy Group has a fifty-two week low of $80.55 and a fifty-two week high of $106.85. The stock has a market capitalization of $30.42 billion, a PE ratio of 26.06, a price-to-earnings-growth ratio of 4.51 and a beta of 0.18. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.49 and a quick ratio of 0.36.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data on Sunday, May 2nd. The utilities provider reported $1.61 EPS for the quarter, topping the consensus estimate of $1.47 by $0.14. The firm had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $2.22 billion. WEC Energy Group had a return on equity of 11.36% and a net margin of 16.26%. The company’s quarterly revenue was up 27.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.43 earnings per share. On average, research analysts expect that WEC Energy Group will post 3.75 earnings per share for the current year.

WEC has been the subject of a number of research analyst reports. Barclays raised shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and set a $107.00 target price for the company in a research report on Wednesday, January 13th. Mizuho began coverage on shares of WEC Energy Group in a report on Wednesday, April 14th. They set a “neutral” rating and a $94.00 target price for the company. Finally, Wells Fargo & Company raised shares of WEC Energy Group from an “equal weight” rating to an “overweight” rating and reduced their target price for the stock from $94.00 to $93.00 in a report on Wednesday, March 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. WEC Energy Group presently has an average rating of “Hold” and a consensus target price of $97.30.

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. The company operates through six segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure, and Corporate and Other.

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Dividend History for WEC Energy Group (NYSE:WEC)

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