WEC Energy Group (NYSE:WEC) Price Target Raised to $114.00

WEC Energy Group (NYSE:WECGet Rating) had its price objective raised by Wells Fargo & Company from $111.00 to $114.00 in a research note released on Wednesday morning, Marketbeat reports. Wells Fargo & Company currently has an overweight rating on the utilities provider’s stock.

A number of other analysts have also recently weighed in on WEC. Barclays lowered their price objective on WEC Energy Group from $108.00 to $104.00 and set an equal weight rating for the company in a research report on Monday, July 18th. Bank of America raised WEC Energy Group from a neutral rating to a buy rating and set a $109.00 price objective for the company in a research report on Friday, May 13th. Mizuho lowered their price objective on WEC Energy Group from $107.00 to $93.00 and set a neutral rating for the company in a research report on Friday, June 17th. Finally, Credit Suisse Group cut WEC Energy Group from a neutral rating to an underperform rating and lowered their price objective for the stock from $108.00 to $98.00 in a research report on Wednesday, July 20th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of $102.50.

WEC Energy Group Trading Down 0.7 %

Shares of NYSE:WEC opened at $103.12 on Wednesday. WEC Energy Group has a 12-month low of $86.84 and a 12-month high of $108.39. The business’s fifty day simple moving average is $99.70 and its 200-day simple moving average is $98.52. The company has a market capitalization of $32.53 billion, a PE ratio of 23.82, a P/E/G ratio of 3.90 and a beta of 0.28. The company has a current ratio of 0.69, a quick ratio of 0.67 and a debt-to-equity ratio of 1.18.

WEC Energy Group (NYSE:WECGet Rating) last announced its quarterly earnings results on Tuesday, August 2nd. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.12. WEC Energy Group had a return on equity of 12.15% and a net margin of 15.23%. The business had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same period last year, the business posted $0.87 EPS. The business’s revenue was up 26.9% compared to the same quarter last year. As a group, equities research analysts predict that WEC Energy Group will post 4.38 earnings per share for the current fiscal year.

WEC Energy Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Friday, August 12th will be issued a $0.7275 dividend. The ex-dividend date is Thursday, August 11th. This represents a $2.91 annualized dividend and a dividend yield of 2.82%. WEC Energy Group’s dividend payout ratio (DPR) is presently 67.21%.

Insider Activity

In other news, CEO Charles R. Matthews sold 10,666 shares of the business’s stock in a transaction dated Wednesday, June 1st. The stock was sold at an average price of $104.63, for a total value of $1,115,983.58. Following the completion of the transaction, the chief executive officer now owns 2,146 shares of the company’s stock, valued at approximately $224,535.98. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, VP Anthony Reese sold 1,325 shares of WEC Energy Group stock in a transaction dated Tuesday, May 10th. The stock was sold at an average price of $102.47, for a total value of $135,772.75. Following the completion of the transaction, the vice president now owns 905 shares in the company, valued at approximately $92,735.35. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Charles R. Matthews sold 10,666 shares of WEC Energy Group stock in a transaction dated Wednesday, June 1st. The shares were sold at an average price of $104.63, for a total value of $1,115,983.58. Following the completion of the transaction, the chief executive officer now owns 2,146 shares of the company’s stock, valued at approximately $224,535.98. The disclosure for this sale can be found here. Insiders sold a total of 49,821 shares of company stock valued at $5,189,283 in the last quarter. 0.34% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On WEC Energy Group

Institutional investors and hedge funds have recently modified their holdings of the business. Princeton Global Asset Management LLC increased its stake in WEC Energy Group by 150.0% during the 1st quarter. Princeton Global Asset Management LLC now owns 250 shares of the utilities provider’s stock worth $25,000 after buying an additional 150 shares in the last quarter. Achmea Investment Management B.V. purchased a new stake in WEC Energy Group during the 1st quarter worth approximately $27,000. Lumature Wealth Partners LLC increased its stake in WEC Energy Group by 66.3% during the 4th quarter. Lumature Wealth Partners LLC now owns 316 shares of the utilities provider’s stock worth $31,000 after buying an additional 126 shares in the last quarter. Charter Oak Capital Management LLC purchased a new stake in WEC Energy Group during the 2nd quarter worth approximately $33,000. Finally, Riverview Trust Co purchased a new stake in WEC Energy Group during the 1st quarter worth approximately $34,000. Hedge funds and other institutional investors own 73.36% of the company’s stock.

WEC Energy Group Company Profile

(Get Rating)

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

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.