WEC Energy Group (NYSE:WEC) PT Raised to $103.00

WEC Energy Group (NYSE:WEC) had its price objective increased by analysts at KeyCorp from $98.00 to $103.00 in a report issued on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the utilities provider’s stock. KeyCorp’s target price suggests a potential upside of 6.46% from the company’s current price.

Other analysts have also issued research reports about the stock. StockNews.com lowered shares of WEC Energy Group from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Scotiabank upped their price objective on WEC Energy Group from $90.00 to $103.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. BMO Capital Markets increased their target price on WEC Energy Group from $91.00 to $93.00 and gave the company a “market perform” rating in a research note on Friday, August 23rd. Bank of America boosted their target price on WEC Energy Group from $88.00 to $90.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. Finally, Jefferies Financial Group initiated coverage on shares of WEC Energy Group in a research report on Thursday, September 19th. They issued a “hold” rating and a $102.00 price target on the stock. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $91.69.

WEC Energy Group Stock Performance

WEC stock opened at $96.75 on Monday. The company has a 50 day moving average price of $91.70 and a 200 day moving average price of $84.66. WEC Energy Group has a fifty-two week low of $75.13 and a fifty-two week high of $97.08. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.74 and a quick ratio of 0.54. The stock has a market capitalization of $30.58 billion, a PE ratio of 21.12, a price-to-earnings-growth ratio of 2.45 and a beta of 0.44.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.04. The business had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.87 billion. WEC Energy Group had a return on equity of 12.26% and a net margin of 15.85%. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.92 earnings per share. Analysts forecast that WEC Energy Group will post 4.87 EPS for the current year.

Insider Activity at WEC Energy Group

In other WEC Energy Group news, VP William J. Guc sold 6,000 shares of WEC Energy Group stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $92.99, for a total value of $557,940.00. Following the sale, the vice president now owns 7,702 shares of the company’s stock, valued at approximately $716,208.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Ulice Payne, Jr. sold 750 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $88.45, for a total value of $66,337.50. Following the sale, the director now owns 21,876 shares of the company’s stock, valued at $1,934,932.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP William J. Guc sold 6,000 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $92.99, for a total transaction of $557,940.00. Following the transaction, the vice president now owns 7,702 shares of the company’s stock, valued at approximately $716,208.98. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,702 shares of company stock valued at $1,078,058. 0.34% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On WEC Energy Group

Large investors have recently modified their holdings of the business. Opal Wealth Advisors LLC bought a new position in shares of WEC Energy Group in the first quarter valued at $25,000. Northwest Bank & Trust Co acquired a new position in shares of WEC Energy Group during the 4th quarter worth about $25,000. Global X Japan Co. Ltd. increased its stake in shares of WEC Energy Group by 58.1% during the 2nd quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 118 shares during the last quarter. Olistico Wealth LLC bought a new stake in shares of WEC Energy Group in the 2nd quarter valued at about $29,000. Finally, YHB Investment Advisors Inc. acquired a new stake in WEC Energy Group in the 1st quarter valued at about $32,000. 77.20% of the stock is currently owned by institutional investors and hedge funds.

WEC Energy Group Company Profile

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and renewable and nonregulated renewable energy services in the United States. It operates through Wisconsin, Illinois, Other States, Electric Transmission, and Non-Utility Energy Infrastructure segments.