Drawing Stock: WEC Energy Group, Inc. (NYSE: WEC)

On 31 Dec 2019, WEC Energy Group, Inc. (NYSE: WEC) spotted trading -6.07% off 52-week high price. On the other end, the stock has been noted 37.23% away from the low price over the last 52-weeks. The stock changed 0.07% to recent value of $92.23. The stock transacted 1387841 shares during most recent day however it has an average volume of 1397.18K shares. The company has 315.4M of outstanding shares and 314.83M shares were floated in the market.

WEC Energy Group (WEC) recently stated net income of $234.3M, or 74 cents per share for the third quarter of 2019. This compares to earnings of $233.2M, or 74 cents per share for last year’s third quarter.

For the first nine months of 2019, the company recorded net income of $890.1M, or $2.81 per share — up from $854.3M, or $2.70 per share, in the corresponding period a year ago.

Consolidated revenues for the third quarter and nine months ended Sept. 30, 2019, were $1.6B and $5.6B, respectively — both level with the comparable periods in 2018.

“We delivered a solid third quarter despite summer temperatures that were cooler than last year and destructive July storms — including nine tornadoes — that caused extensive damage to our distribution network,” stated Gale Klappa, executive chairman.

Retail deliveries of electricity — not including the iron ore mine in Michigan’s Upper Peninsula — were down by 4.2 percent in the third quarter of 2019, contrast to the third quarter of 2018.

Residential electricity use dropped by 3.8 percent. Electricity consumption by small commercial and industrial consumers was 3.4 percent lower.

Electricity use by large commercial and industrial consumers was down by 4.3 percent during the quarter.  Not Including the iron ore mine, usage by large commercial and industrial consumers declined by 5.6 percent.

On a weather-normal basis, retail deliveries of electricity during the third quarter of this year — not including the iron ore mine — reduced by 3.4 percent.

At the end of September, the company was serving about 10,000 more electric consumers and 21,000 more natural gas consumers than at the same time a year ago.

The company is tightening its 2019 earnings guidance to a range of $3.51 to $3.53 per share with an expectation of reaching the top end of the range. This assumes normal weather for the remainder of the year.

Its earnings per share (EPS) expected to touch remained 6.30% for this year while earning per share for the next 5-years is expected to reach at 6.05%. WEC has a gross margin of 62.20% and an operating margin of 19.10% while its profit margin remained 14.30% for the last 12 months.  According to the most recent quarter its current ratio was 0.6 that represents company’s ability to meet its current financial obligations. The price moved ahead of 2.10% from the mean of 20 days, 2.05% from mean of 50 days SMA and performed 6.32% from mean of 200 days price. Company’s performance for the week was 0.82%, 4.04% for month and YTD performance remained 33.16%.

 

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