Analysts Set WEC Energy Group Inc (WEC) PT at $68.33

Shares of WEC Energy Group Inc (NYSE:WEC) have earned an average rating of “Hold” from the fourteen research firms that are covering the firm, MarketBeat.com reports. Nine investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $68.78.

Several analysts recently issued reports on WEC shares. Bank of America upgraded shares of WEC Energy Group from a “neutral” rating to a “buy” rating in a research report on Friday, June 1st. Barclays started coverage on shares of WEC Energy Group in a research report on Tuesday, July 10th. They set an “equal weight” rating and a $71.00 target price for the company. Zacks Investment Research lowered shares of WEC Energy Group from a “buy” rating to a “hold” rating in a research report on Wednesday, June 20th. ValuEngine upgraded shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Wednesday, June 20th. Finally, Citigroup boosted their target price on shares of WEC Energy Group from $61.00 to $63.00 and gave the company a “hold” rating in a research report on Tuesday, July 10th.

In other WEC Energy Group news, insider Frederick D. Kuester sold 168,790 shares of the company’s stock in a transaction that occurred on Thursday, August 9th. The shares were sold at an average price of $66.94, for a total value of $11,298,802.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Barbara L. Bowles sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $66.45, for a total transaction of $166,125.00. The disclosure for this sale can be found here. Corporate insiders own 0.97% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of WEC. Eaton Vance Management boosted its position in shares of WEC Energy Group by 30.9% in the first quarter. Eaton Vance Management now owns 15,831 shares of the utilities provider’s stock worth $993,000 after purchasing an additional 3,739 shares during the period. Thrivent Financial for Lutherans boosted its position in shares of WEC Energy Group by 5.8% in the first quarter. Thrivent Financial for Lutherans now owns 15,236 shares of the utilities provider’s stock worth $955,000 after purchasing an additional 842 shares during the period. Signaturefd LLC bought a new position in shares of WEC Energy Group in the first quarter worth approximately $166,000. Korea Investment CORP boosted its position in shares of WEC Energy Group by 12.0% in the first quarter. Korea Investment CORP now owns 196,885 shares of the utilities provider’s stock worth $12,345,000 after purchasing an additional 21,056 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its position in shares of WEC Energy Group by 5.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 45,016 shares of the utilities provider’s stock worth $2,822,000 after acquiring an additional 2,294 shares during the last quarter. Institutional investors and hedge funds own 73.37% of the company’s stock.

Shares of WEC traded up $0.09 during mid-day trading on Friday, hitting $67.24. 3,367,021 shares of the company traded hands, compared to its average volume of 1,439,162. The company has a quick ratio of 0.44, a current ratio of 0.59 and a debt-to-equity ratio of 0.95. WEC Energy Group has a 1 year low of $58.48 and a 1 year high of $70.09. The stock has a market capitalization of $21.22 billion and a price-to-earnings ratio of 20.07.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Tuesday, July 31st. The utilities provider reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.06. The firm had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.57 billion. WEC Energy Group had a net margin of 16.56% and a return on equity of 11.18%. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.63 earnings per share. analysts expect that WEC Energy Group will post 3.32 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Saturday, September 1st. Shareholders of record on Tuesday, August 14th were given a $0.5525 dividend. The ex-dividend date was Monday, August 13th. This represents a $2.21 dividend on an annualized basis and a dividend yield of 3.29%. WEC Energy Group’s payout ratio is currently 70.38%.

WEC Energy Group Company Profile

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, 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.

Featured Story: Do You Need a Fiduciary?

Analyst Recommendations for WEC Energy Group (NYSE:WEC)

Receive News & Ratings for WEC Energy Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WEC Energy Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply