Shares of WEC Energy Group, Inc. (NYSE:WEC – Get Rating) have earned an average recommendation of “Hold” from the twelve ratings firms that are covering the stock, MarketBeat Ratings reports. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $101.00.
Several equities research analysts have recently commented on the stock. The Goldman Sachs Group upgraded shares of WEC Energy Group from a “sell” rating to a “neutral” rating and set a $99.00 price objective for the company in a research note on Thursday, January 13th. StockNews.com began coverage on shares of WEC Energy Group in a research note on Thursday, March 31st. They set a “hold” rating for the company. Credit Suisse Group began coverage on shares of WEC Energy Group in a research report on Monday, April 25th. They set a “neutral” rating and a $108.00 target price for the company. Evercore ISI restated a “hold” rating and set a $97.00 target price on shares of WEC Energy Group in a research report on Friday, February 4th. Finally, BMO Capital Markets restated a “hold” rating and set a $98.00 target price on shares of WEC Energy Group in a research report on Friday, February 4th.
A number of hedge funds and other institutional investors have recently made changes to their positions in WEC. Mackenzie Financial Corp grew its stake in shares of WEC Energy Group by 8.3% in the 3rd quarter. Mackenzie Financial Corp now owns 74,155 shares of the utilities provider’s stock valued at $6,540,000 after buying an additional 5,677 shares during the period. Atria Investments LLC grew its stake in shares of WEC Energy Group by 20.1% in the 3rd quarter. Atria Investments LLC now owns 31,998 shares of the utilities provider’s stock valued at $2,822,000 after buying an additional 5,355 shares during the period. Comerica Bank grew its stake in shares of WEC Energy Group by 77.2% in the 3rd quarter. Comerica Bank now owns 107,958 shares of the utilities provider’s stock valued at $10,219,000 after buying an additional 47,018 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of WEC Energy Group by 38.3% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 293,081 shares of the utilities provider’s stock valued at $25,850,000 after buying an additional 81,205 shares during the period. Finally, Lewis Capital Management LLC purchased a new stake in shares of WEC Energy Group in the 4th quarter valued at approximately $331,000. 73.36% of the stock is owned by institutional investors.
WEC Energy Group (NYSE:WEC – Get Rating) last posted its quarterly earnings data on Monday, May 2nd. The utilities provider reported $1.79 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.66 by $0.13. WEC Energy Group had a net margin of 15.64% and a return on equity of 11.80%. The business had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.83 billion. During the same period in the previous year, the firm posted $1.61 earnings per share. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. As a group, sell-side analysts predict that WEC Energy Group will post 4.3 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 1st. Stockholders of record on Friday, May 13th will be paid a dividend of $0.7275 per share. The ex-dividend date of this dividend is Thursday, May 12th. This represents a $2.91 dividend on an annualized basis and a dividend yield of 2.92%. WEC Energy Group’s dividend payout ratio is currently 70.80%.
About WEC Energy Group (Get Rating)
WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and renewable 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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