WEC Energy Group (NYSE:WEC) had its target price lowered by investment analysts at Credit Suisse Group from $65.00 to $63.00 in a note issued to investors on Friday. The firm presently has a “neutral” rating on the utilities provider’s stock. Credit Suisse Group’s price objective would suggest a potential upside of 3.58% from the stock’s previous close.
A number of other brokerages have also recently issued reports on WEC. Bank of America upped their price objective on WEC Energy Group from $69.00 to $71.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 15th. Zacks Investment Research upgraded WEC Energy Group from a “hold” rating to a “buy” rating and set a $74.00 price objective on the stock in a research note on Saturday, January 6th. Guggenheim reiterated a “buy” rating and set a $73.00 price objective on shares of WEC Energy Group in a research note on Wednesday, January 3rd. Wells Fargo & Co dropped their price objective on WEC Energy Group from $73.00 to $71.00 and set a “market perform” rating on the stock in a research note on Thursday, February 1st. Finally, UBS Group started coverage on WEC Energy Group in a research note on Friday, February 2nd. They set a “neutral” rating and a $65.00 price objective on the stock. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. WEC Energy Group presently has an average rating of “Hold” and an average price target of $66.70.
WEC Energy Group (NYSE WEC) traded up $0.48 during midday trading on Friday, reaching $60.82. The company’s stock had a trading volume of 189,863 shares, compared to its average volume of 1,971,948. The company has a market cap of $18,972.34, a PE ratio of 16.05, a price-to-earnings-growth ratio of 4.31 and a beta of 0.04. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.57 and a quick ratio of 0.43. WEC Energy Group has a 12-month low of $58.04 and a 12-month high of $70.09.
WEC Energy Group (NYSE:WEC) last released its earnings results on Wednesday, January 31st. The utilities provider reported $0.71 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.03. The firm had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $1.94 billion. WEC Energy Group had a return on equity of 10.81% and a net margin of 15.75%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.61 EPS. sell-side analysts forecast that WEC Energy Group will post 3.3 earnings per share for the current fiscal year.
Several hedge funds have recently bought and sold shares of WEC. Wells Fargo & Company MN increased its holdings in shares of WEC Energy Group by 36.6% during the 3rd quarter. Wells Fargo & Company MN now owns 7,366,777 shares of the utilities provider’s stock worth $462,486,000 after acquiring an additional 1,972,929 shares during the last quarter. APG Asset Management N.V. increased its holdings in shares of WEC Energy Group by 170.9% during the 4th quarter. APG Asset Management N.V. now owns 2,403,530 shares of the utilities provider’s stock worth $132,967,000 after acquiring an additional 1,516,384 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of WEC Energy Group by 33.6% during the 4th quarter. Renaissance Technologies LLC now owns 2,784,802 shares of the utilities provider’s stock worth $184,994,000 after acquiring an additional 700,200 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of WEC Energy Group by 28.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,849,244 shares of the utilities provider’s stock worth $178,873,000 after acquiring an additional 638,010 shares during the last quarter. Finally, BlackRock Inc. increased its holdings in shares of WEC Energy Group by 2.1% during the 4th quarter. BlackRock Inc. now owns 26,807,670 shares of the utilities provider’s stock worth $1,780,834,000 after acquiring an additional 560,644 shares during the last quarter. 72.92% of the stock is currently owned by institutional investors and hedge funds.
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About WEC Energy Group
WEC Energy Group, Inc was a diversified holding company with natural gas and electric utility operations, an approximately 60% equity ownership interest in American Transmission Company LLC, and non-utility electric operations through its We Power business, as of December 31, 2016. Its segments include Wisconsin; Illinois; Other States; Electric Transmission; We Power, and Corporate and Other.
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