WEC Energy Group (NYSE:WEC) had its price objective lifted by Credit Suisse Group from $69.00 to $70.00 in a report released on Thursday morning. They currently have a neutral rating on the utilities provider’s stock.
Several other analysts also recently commented on the stock. Bank of America downgraded shares of WEC Energy Group from a buy rating to a neutral rating in a research report on Thursday. They noted that the move was a valuation call. Wolfe Research downgraded shares of WEC Energy Group from a market perform rating to a sell rating in a research report on Friday, October 26th. ValuEngine upgraded shares of WEC Energy Group from a hold rating to a buy rating in a research report on Friday, October 19th. Zacks Investment Research upgraded shares of 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, October 17th. Finally, Citigroup set a $66.00 price objective on shares of WEC Energy Group and gave the company a neutral rating in a research note on Wednesday, October 3rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $70.27.
Shares of NYSE:WEC opened at $67.36 on Thursday. The company has a market cap of $21.14 billion, a PE ratio of 21.45, a P/E/G ratio of 4.59 and a beta of -0.03. The company has a quick ratio of 0.34, a current ratio of 0.51 and a debt-to-equity ratio of 0.93. WEC Energy Group has a twelve month low of $58.48 and a twelve month high of $72.09.
WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data on Wednesday, October 31st. The utilities provider reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.03. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.66 billion. WEC Energy Group had a net margin of 16.82% and a return on equity of 11.18%. The company’s revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.68 EPS. On average, equities research analysts forecast that WEC Energy Group will post 3.33 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, December 1st. Stockholders of record on Wednesday, November 14th will be paid a dividend of $0.5525 per share. The ex-dividend date is Tuesday, November 13th. This represents a $2.21 dividend on an annualized basis and a dividend yield of 3.28%. WEC Energy Group’s dividend payout ratio (DPR) is presently 70.38%.
In other news, insider Frederick D. Kuester sold 168,790 shares of the company’s stock in a transaction on Thursday, August 9th. The shares were sold at an average price of $66.94, for a total transaction of $11,298,802.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.94% of the company’s stock.
Several large investors have recently bought and sold shares of WEC. St. Johns Investment Management Company LLC grew its stake in shares of WEC Energy Group by 100.0% during the 2nd quarter. St. Johns Investment Management Company LLC now owns 1,600 shares of the utilities provider’s stock worth $102,000 after purchasing an additional 800 shares during the period. Braun Bostich & Associates Inc. grew its stake in WEC Energy Group by 1,300.0% in the 2nd quarter. Braun Bostich & Associates Inc. now owns 1,764 shares of the utilities provider’s stock valued at $114,000 after acquiring an additional 1,638 shares during the last quarter. Centaurus Financial Inc. acquired a new stake in WEC Energy Group in the 2nd quarter valued at about $141,000. Bridgeworth LLC acquired a new stake in WEC Energy Group in the 2nd quarter valued at about $156,000. Finally, Flagship Harbor Advisors LLC acquired a new stake in WEC Energy Group in the 2nd quarter valued at about $164,000. 73.55% of the stock is currently 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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