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WEC Energy (WEC) Q4 Earnings & Revenues Miss the Mark
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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 fourth quarter Zacks Consensus Estimate for earnings of 62 cents per share has decreased by 3.1% in the last 60 days.
Coming to the earnings surprise, WEC Energy Group has surpassed the Zacks Consensus Estimate in the last four quarters, resulting in a positive average surprise of 6.38%.
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 61 cents per share, falling short of the Zacks Consensus Estimate of 62 cents by a penny.
Revenue: WEC Energy’s total revenues of $1,963 million missed the Zacks Consensus Estimate of $3,355 million by 41.5%.
Key Stats to Note: At the end of fourth quarter 2016, Wisconsin Energy Group served around 35,000 more customers from the prior-year level.
Stock Price: It would be interesting to see how the market reacts to the negative earnings surprise during the trading session today.
Check back later for our full write up on this WEC earnings report later!
Zacks' Top 10 Stocks for 2017
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Who wouldn't? As of early December, the 2016 Top 10 produced 5 double-digit winners including oil and natural gas giant Pioneer Natural Resources which racked up a stellar +50% gain. The new list is painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. Be among the very first to see it>>
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WEC Energy (WEC) Q4 Earnings & Revenues Miss the Mark
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 fourth quarter Zacks Consensus Estimate for earnings of 62 cents per share has decreased by 3.1% in the last 60 days.
Coming to the earnings surprise, WEC Energy Group has surpassed the Zacks Consensus Estimate in the last four quarters, resulting in a positive average surprise of 6.38%.
WEC Energy Group, Inc. Price and EPS Surprise
WEC Energy Group, Inc. Price and EPS Surprise | WEC Energy Group, Inc. Quote
Zacks Rank: Currently, WEC Energy Group has a Zacks Rank#2 (Buy). 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 61 cents per share, falling short of the Zacks Consensus Estimate of 62 cents by a penny.
Revenue: WEC Energy’s total revenues of $1,963 million missed the Zacks Consensus Estimate of $3,355 million by 41.5%.
Key Stats to Note: At the end of fourth quarter 2016, Wisconsin Energy Group served around 35,000 more customers from the prior-year level.
Stock Price: It would be interesting to see how the market reacts to the negative earnings surprise during the trading session today.
Check back later for our full write up on this WEC earnings report later!
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2017?
Who wouldn't? As of early December, the 2016 Top 10 produced 5 double-digit winners including oil and natural gas giant Pioneer Natural Resources which racked up a stellar +50% gain. The new list is painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. Be among the very first to see it>>