Barclays Boosts WEC Energy Group (NYSE:WEC) Price Target to $89.00

WEC Energy Group (NYSE:WEC) had its price objective hoisted by analysts at Barclays from $86.00 to $89.00 in a report released on Monday, Benzinga reports. The firm presently has an “underweight” rating on the utilities provider’s stock. Barclays‘s price target would indicate a potential downside of 5.44% from the company’s previous close.

Several other analysts have also issued reports on WEC. Bank of America lifted their target price on shares of WEC Energy Group from $88.00 to $90.00 and gave the company an “underperform” rating in a research report on Thursday, August 29th. Jefferies Financial Group initiated 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 target on the stock. StockNews.com lowered shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. BMO Capital Markets boosted their price target on shares of 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. Finally, Wells Fargo & Company lifted their target price on shares of WEC Energy Group from $98.00 to $103.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $92.92.

WEC Energy Group Stock Performance

Shares of WEC Energy Group stock traded down $1.36 during trading on Monday, hitting $94.12. 1,318,771 shares of the company’s stock were exchanged, compared to its average volume of 2,147,010. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.54 and a current ratio of 0.74. The business has a 50-day simple moving average of $92.45 and a 200-day simple moving average of $84.98. WEC Energy Group has a 52-week low of $75.13 and a 52-week high of $97.08. The stock has a market capitalization of $29.73 billion, a price-to-earnings ratio of 20.55, a PEG ratio of 2.48 and a beta of 0.44.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.67 EPS for the quarter, beating the consensus estimate of $0.63 by $0.04. The company had revenue of $1.77 billion for the quarter, compared to analyst estimates 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 quarter last year, the business earned $0.92 earnings per share. On average, research analysts forecast that WEC Energy Group will post 4.87 EPS for the current year.

Insider Activity at WEC Energy Group

In related news, Director Ulice Payne, Jr. sold 750 shares of WEC Energy Group stock in a transaction that occurred 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 completion of the transaction, the director now owns 21,876 shares in the company, valued at approximately $1,934,932.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Ulice Payne, Jr. sold 750 shares of WEC Energy Group stock in a transaction that occurred 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 completion of the transaction, the director now owns 21,876 shares in the company, valued at approximately $1,934,932.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP William J. Guc sold 6,000 shares of the business’s stock in a transaction that occurred 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 $716,208.98. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,702 shares of company stock worth $1,078,058. Corporate insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Opal Wealth Advisors LLC purchased a new position in WEC Energy Group during the 1st quarter worth $25,000. Northwest Bank & Trust Co purchased a new position in WEC Energy Group during the 4th quarter worth $25,000. Global X Japan Co. Ltd. raised its position in 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 buying an additional 118 shares during the last quarter. Olistico Wealth LLC purchased a new position in WEC Energy Group during the 2nd quarter worth $29,000. Finally, YHB Investment Advisors Inc. purchased a new position in WEC Energy Group during the 1st quarter worth $32,000. Institutional investors and hedge funds own 77.20% of the company’s stock.

About WEC Energy Group

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.