WEC Energy Group, Inc. (NYSE:WEC) Given Average Rating of “Hold” by Brokerages

WEC Energy Group, Inc. (NYSE:WEC) has received an average recommendation of “Hold” from the twelve ratings firms that are currently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $91.31.

A number of equities analysts have commented on WEC shares. Scotiabank lifted their price objective on shares of WEC Energy Group from $90.00 to $103.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Jefferies Financial Group assumed coverage on shares of WEC Energy Group in a research report on Thursday, September 19th. They set a “hold” rating and a $102.00 price objective for the company. Bank of America raised their target price on shares of WEC Energy Group from $88.00 to $90.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. Barclays lifted their target price on WEC Energy Group from $80.00 to $86.00 and gave the company an “underweight” rating in a research note on Tuesday, August 6th. Finally, BMO Capital Markets increased their price target on WEC Energy Group from $91.00 to $93.00 and gave the stock a “market perform” rating in a research report on Friday, August 23rd.

WEC Energy Group Price Performance

NYSE WEC opened at $95.18 on Tuesday. The stock has a market capitalization of $30.06 billion, a price-to-earnings ratio of 20.78, a PEG ratio of 2.47 and a beta of 0.44. WEC Energy Group has a 1-year low of $75.13 and a 1-year high of $96.65. 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 business’s fifty day moving average price is $90.07 and its 200-day moving average price is $84.06.

WEC Energy Group (NYSE:WEC) last announced its earnings results on Wednesday, July 31st. The utilities provider reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. The business had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.87 billion. WEC Energy Group had a net margin of 15.85% and a return on equity of 12.26%. The firm’s revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.92 earnings per share. On average, equities analysts predict that WEC Energy Group will post 4.88 earnings per share for the current year.

WEC Energy Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 14th were issued a dividend of $0.835 per share. This represents a $3.34 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date was Wednesday, August 14th. WEC Energy Group’s dividend payout ratio (DPR) is currently 72.93%.

Insider Activity

In related news, VP Joshua M. Erickson sold 350 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $89.75, for a total transaction of $31,412.50. Following the completion of the sale, the vice president now directly owns 2,377 shares of the company’s stock, valued at approximately $213,335.75. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, VP Joshua M. Erickson sold 350 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $89.75, for a total value of $31,412.50. Following the completion of the transaction, the vice president now owns 2,377 shares of the company’s stock, valued at $213,335.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Anthony Reese sold 1,362 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $88.78, for a total value of $120,918.36. Following the completion of the transaction, the vice president now owns 1,462 shares of the company’s stock, valued at approximately $129,796.36. The disclosure for this sale can be found here. Insiders sold 11,702 shares of company stock valued at $1,078,058 in the last quarter. Company insiders own 0.34% of the company’s stock.

Institutional Trading of WEC Energy Group

A number of hedge funds have recently modified their holdings of the stock. Northwest Bank & Trust Co acquired a new stake in shares of WEC Energy Group in the fourth quarter valued at approximately $25,000. Opal Wealth Advisors LLC acquired a new position in WEC Energy Group in the 1st quarter valued at $25,000. Global X Japan Co. Ltd. lifted its position 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 valued at $25,000 after acquiring an additional 118 shares during the period. Olistico Wealth LLC acquired a new stake in shares of WEC Energy Group during the 2nd quarter worth $29,000. Finally, William B. Walkup & Associates Inc. bought a new position in shares of WEC Energy Group in the second quarter worth $31,000. Institutional investors and hedge funds 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.