WEC Energy Group, Inc. (NYSE:WEC – Get Free Report) announced a quarterly dividend on Thursday, July 16th. Investors of record on Friday, August 14th will be paid a dividend of 0.9525 per share by the utilities provider on Tuesday, September 1st. This represents a c) annualized dividend and a yield of 3.6%. The ex-dividend date is Friday, August 14th.
WEC Energy Group has increased its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 23 consecutive years. WEC Energy Group has a dividend payout ratio of 68.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect WEC Energy Group to earn $6.01 per share next year, which means the company should continue to be able to cover its $3.81 annual dividend with an expected future payout ratio of 63.4%.
WEC Energy Group Stock Performance
Shares of WEC opened at $106.61 on Wednesday. WEC Energy Group has a 12 month low of $102.95 and a 12 month high of $119.91. The business’s fifty day simple moving average is $113.33 and its two-hundred day simple moving average is $113.77. The company has a market cap of $34.74 billion, a price-to-earnings ratio of 20.66, a P/E/G ratio of 1.84 and a beta of 0.47. The company has a current ratio of 0.53, a quick ratio of 0.39 and a debt-to-equity ratio of 1.35.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on the stock. LADENBURG THALM/SH SH lowered shares of WEC Energy Group from a “buy” rating to a “neutral” rating and set a $110.50 target price for the company. in a report on Tuesday, August 4th. JPMorgan Chase & Co. raised their price objective on WEC Energy Group from $120.00 to $124.00 and gave the stock a “neutral” rating in a report on Thursday, July 16th. Weiss Ratings cut shares of WEC Energy Group from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, August 5th. KeyCorp dropped their price objective on WEC Energy Group from $126.00 to $117.00 and set an “overweight” rating on the stock in a research report on Thursday, July 23rd. Finally, Mizuho set a $124.00 price target on shares of WEC Energy Group in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $122.41.
Check Out Our Latest Report on WEC Energy Group
WEC Energy Group Company Profile
WEC Energy Group is a Milwaukee, Wisconsin–based regulated energy holding company whose primary businesses are the generation, transmission and distribution of electricity and the distribution of natural gas. The company operates through a set of utility subsidiaries that provide bundled energy service, customer billing and energy-related programs to residential, commercial and industrial customers. As a regulated utility group, WEC’s operations focus on delivering reliable service while managing infrastructure investment and compliance with state and federal utility regulation.
Its utility subsidiaries include well-known regional operators such as We Energies and Wisconsin Public Service, along with Chicago-area natural gas utilities that were part of the Integrys Energy Group acquisition.
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