WEC Energy Group (WEC - Free Report) is a diversified holding company, engaged in the generation and distribution of electricity in southeastern, east central and northern Wisconsin, as well as in the upper peninsula of Michigan. The company provides electricity and natural gas to 4.4 million customers across four states through its customer facing brands.
The company is currently focusing on upgrading its aging distribution systems, strengthening existing infrastructure and converting coal-fired units to natural gas-based facilities.
Post completion of the acquisition of the acquisition of Integrys Energy, the company has a 60.3% ownership interest in ATC.
Estimate Trend & Surprise History
Investors should note that the second quarter Zacks Consensus Estimate for earnings of 59 cents per share has increased by 1.7% in the last 60 days.
Coming to the earnings surprise, WEC Energy Group has surpassed the Zacks Consensus Estimate in three out of the last four quarters, resulting in a positive average surprise of 5.67%.
Zacks Rank: Currently, WEC Energy Group has a Zacks Rank#3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change.
We have mentioned below some of the vital information from this just-revealed announcement:
Earnings: WEC Energy reported earnings of 63 cents per share, beating the Zacks Consensus Estimate of 59 cents by 6.8%.
Revenue: WEC Energy’s total revenues of $1,631.5 million surpassed the Zacks Consensus Estimate of $1,592 million by 2.5%.
Key Stats to Note: At the end of second quarter 2017, Wisconsin Energy Group served around 9,000 more electric and 13,000 more natural gas customers from the prior-year level.
Stock Price: It would be interesting to see how the market reacts to the positive earnings surprise during the trading session today.
Check back later for our full write up on this WEC earnings report later!
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