WEC Energy Group, Inc. (NYSE:WEC) Stock Has Average Price Target of $117.88 According to Analysts

Shares of WEC Energy Group, Inc. (NYSE:WEC) have earned an average recommendation of “Hold” from the eighteen ratings firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $117.88.

A number of equities analysts have issued reports on the stock. Wall Street Zen upgraded shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Sunday. Truist Financial dropped their price objective on shares of WEC Energy Group from $114.00 to $113.00 and set a “hold” rating on the stock in a report on Friday, October 16th. Stephens set a $109.00 price objective on shares of WEC Energy Group in a research note on Friday, October 16th. Weiss Ratings raised shares of WEC Energy Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, November 2nd. Finally, Barclays reduced their target price on shares of WEC Energy Group from $117.00 to $108.00 and set an “equal weight” rating for the company in a report on Monday, October 19th.

Institutional Investors Weigh In On WEC Energy Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. John Boyer Inc. purchased a new stake in shares of WEC Energy Group in the third quarter worth about $25,000. Compass Financial Management LLC acquired a new stake in WEC Energy Group during the second quarter worth about $29,000. Silvant Capital Management LLC purchased a new position in WEC Energy Group during the second quarter valued at approximately $34,000. Paladin Partners LLC purchased a new position in WEC Energy Group during the second quarter valued at approximately $34,000. Finally, Addison Advisors LLC purchased a new position in WEC Energy Group during the second quarter valued at approximately $34,000. 77.20% of the stock is owned by institutional investors and hedge funds.

WEC Energy Group Trading Down 0.2%

NYSE:WEC opened at $116.93 on Friday. The firm has a fifty day simple moving average of $107.29 and a 200-day simple moving average of $111.74. WEC Energy Group has a 12 month low of $99.80 and a 12 month high of $120.15. The company has a current ratio of 0.53, a quick ratio of 0.36 and a debt-to-equity ratio of 1.34. The company has a market capitalization of $38.47 billion, a P/E ratio of 19.66, a PEG ratio of 2.41 and a beta of 0.43.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data on Thursday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.21. The firm had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.27 billion. WEC Energy Group had a return on equity of 13.49% and a net margin of 17.54%. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period last year, the business posted $0.83 earnings per share. On average, equities research analysts anticipate that WEC Energy Group will post 5.61 earnings per share for the current year.

WEC Energy Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 13th will be issued a $0.9525 dividend. This represents a $3.81 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Friday, November 13th. WEC Energy Group’s dividend payout ratio is presently 69.15%.

About WEC Energy Group

WEC Energy Group is a regulated energy holding company based in Milwaukee, Wisconsin. Through its subsidiaries, it generates, transmits and distributes electricity and provides natural gas service to residential, commercial and industrial customers. The company’s utility operations serve communities across Wisconsin, Illinois, Michigan and Minnesota. Its businesses include electric and gas utilities, as well as natural gas storage and related energy services. WEC Energy Group adopted its current name in 2015, following the combination of Wisconsin Energy Corporation and Integrys Energy Group.