WEC Energy Group (NYSE:WEC) Price Target Increased to $90.00 by Analysts at BMO Capital Markets

WEC Energy Group (NYSE:WEC) had its price target lifted by BMO Capital Markets from $89.00 to $90.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have a market perform rating on the utilities provider’s stock.

WEC has been the topic of several other reports. Barclays cut their price objective on WEC Energy Group from $79.00 to $75.00 and set an underweight rating on the stock in a research report on Thursday, February 8th. JPMorgan Chase & Co. lowered WEC Energy Group from a neutral rating to an underweight rating and reduced their price target for the stock from $90.00 to $84.00 in a research report on Friday, February 2nd. KeyCorp increased their price objective on shares of WEC Energy Group from $95.00 to $96.00 and gave the company an overweight rating in a research report on Friday, April 19th. The Goldman Sachs Group initiated coverage on shares of WEC Energy Group in a research report on Wednesday, April 10th. They set a neutral rating and a $88.00 target price on the stock. Finally, StockNews.com downgraded shares of WEC Energy Group from a hold rating to a sell rating in a research note on Saturday, January 13th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $86.29.

WEC Energy Group Trading Up 0.2 %

Shares of WEC stock traded up $0.14 during trading hours on Thursday, hitting $83.22. 1,780,159 shares of the company were exchanged, compared to its average volume of 1,750,358. WEC Energy Group has a 1 year low of $75.13 and a 1 year high of $96.17. The firm has a fifty day moving average of $80.60 and a 200 day moving average of $81.44. The firm has a market cap of $26.25 billion, a PE ratio of 18.17, a PEG ratio of 2.88 and a beta of 0.40. The company has a quick ratio of 0.40, a current ratio of 0.55 and a debt-to-equity ratio of 1.24.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.07. The firm had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.92 billion. WEC Energy Group had a return on equity of 13.01% and a net margin of 16.67%. The firm’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.61 earnings per share. Analysts expect that WEC Energy Group will post 4.87 earnings per share for the current year.

WEC Energy Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 14th will be given a dividend of $0.835 per share. This represents a $3.34 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date is Monday, May 13th. WEC Energy Group’s dividend payout ratio is presently 72.93%.

Insiders Place Their Bets

In related news, Chairman Gale E. Klappa sold 37,180 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $78.69, for a total value of $2,925,694.20. Following the sale, the chairman now owns 274,782 shares of the company’s stock, valued at approximately $21,622,595.58. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other WEC Energy Group news, CEO Scott J. Lauber sold 2,830 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $78.89, for a total transaction of $223,258.70. Following the completion of the transaction, the chief executive officer now directly owns 43,125 shares of the company’s stock, valued at approximately $3,402,131.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Gale E. Klappa sold 37,180 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $78.69, for a total transaction of $2,925,694.20. Following the completion of the sale, the chairman now owns 274,782 shares in the company, valued at approximately $21,622,595.58. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by corporate insiders.

Institutional Trading of WEC Energy Group

Several hedge funds have recently added to or reduced their stakes in WEC. Northwest Bank & Trust Co bought a new stake in shares of WEC Energy Group during the 4th quarter worth about $25,000. Opal Wealth Advisors LLC acquired a new position in shares of WEC Energy Group during the first quarter valued at approximately $25,000. Tennessee Valley Asset Management Partners bought a new stake in WEC Energy Group during the fourth quarter worth approximately $26,000. Valued Wealth Advisors LLC acquired a new stake in WEC Energy Group in the fourth quarter worth approximately $28,000. Finally, First United Bank & Trust bought a new position in WEC Energy Group during the 4th quarter valued at $30,000. Institutional investors own 77.20% of the company’s stock.

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.