WEC Energy Group (WEC) Upgraded at ValuEngine

WEC Energy Group (NYSE:WEC) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Friday.

A number of other brokerages have also recently commented on WEC. Zacks Investment Research raised WEC Energy Group from a “hold” rating to a “buy” rating and set a $77.00 price target for the company in a research report on Wednesday. Wells Fargo & Co lifted their price target on WEC Energy Group from $71.00 to $75.00 and gave the stock an “outperform” rating in a research report on Monday, September 17th. Citigroup set a $66.00 price target on WEC Energy Group and gave the stock a “neutral” rating in a research report on Wednesday, October 3rd. Scotia Howard Weill assumed coverage on WEC Energy Group in a research report on Tuesday, September 4th. They set a “sector outperform” rating and a $72.00 price target for the company. Finally, Howard Weil assumed coverage on WEC Energy Group in a research report on Tuesday, September 4th. They set a “sector outperform” rating and a $72.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $70.00.

WEC traded up $1.30 on Friday, reaching $70.57. 2,346,400 shares of the stock were exchanged, compared to its average volume of 1,860,263. WEC Energy Group has a fifty-two week low of $58.48 and a fifty-two week high of $70.87. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.44 and a current ratio of 0.59. The stock has a market cap of $21.85 billion, a P/E ratio of 22.47, a P/E/G ratio of 4.75 and a beta of 0.02.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings results on Tuesday, July 31st. The utilities provider reported $0.73 EPS for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.06. WEC Energy Group had a return on equity of 11.18% and a net margin of 16.56%. The company had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter in the previous year, the firm posted $0.63 EPS. The firm’s revenue was up 2.5% compared to the same quarter last year. Analysts predict that WEC Energy Group will post 3.32 EPS for the current fiscal year.

In other news, Director Barbara L. Bowles sold 2,500 shares of the business’s stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $66.45, for a total value of $166,125.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Frederick D. Kuester sold 168,790 shares of the business’s stock in a transaction dated Thursday, August 9th. The shares were sold at an average price of $66.94, for a total value of $11,298,802.60. The disclosure for this sale can be found here. Insiders own 0.97% of the company’s stock.

Several hedge funds have recently modified their holdings of WEC. Vaughan Nelson Investment Management L.P. acquired a new position in shares of WEC Energy Group in the 2nd quarter valued at about $47,445,000. Virginia Retirement Systems ET AL lifted its holdings in shares of WEC Energy Group by 433.9% in the 2nd quarter. Virginia Retirement Systems ET AL now owns 512,500 shares of the utilities provider’s stock valued at $33,133,000 after buying an additional 416,500 shares during the period. Retirement Systems of Alabama lifted its holdings in shares of WEC Energy Group by 245.1% in the 2nd quarter. Retirement Systems of Alabama now owns 520,237 shares of the utilities provider’s stock valued at $33,633,000 after buying an additional 369,496 shares during the period. Magellan Asset Management Ltd lifted its holdings in shares of WEC Energy Group by 17.0% in the 2nd quarter. Magellan Asset Management Ltd now owns 1,711,169 shares of the utilities provider’s stock valued at $110,627,000 after buying an additional 248,768 shares during the period. Finally, Rathbone Brothers plc lifted its holdings in shares of WEC Energy Group by 28.5% in the 2nd quarter. Rathbone Brothers plc now owns 794,281 shares of the utilities provider’s stock valued at $51,350,000 after buying an additional 176,370 shares during the period. 73.44% of the stock is owned by institutional investors and hedge funds.

About WEC Energy Group

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and nonregulated renewable energy services in the United States. The company operates through six segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure, and Corporate and Other.

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Analyst Recommendations for WEC Energy Group (NYSE:WEC)

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