WEC Energy Group (NYSE:WEC) Lifted to Buy at Bank of America

Bank of America upgraded shares of WEC Energy Group (NYSE:WECGet Rating) from a neutral rating to a buy rating in a research note issued to investors on Friday morning, The Fly reports.

Several other equities analysts also recently weighed in on the company. The Goldman Sachs Group upgraded WEC Energy Group from a sell rating to a neutral rating and set a $99.00 target price on the stock in a research report on Thursday, January 13th. Credit Suisse Group initiated coverage on WEC Energy Group in a research report on Monday, April 25th. They set a neutral rating and a $108.00 target price on the stock. BMO Capital Markets reiterated a hold rating and set a $98.00 target price on shares of WEC Energy Group in a research report on Friday, February 4th. Evercore ISI reiterated 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, StockNews.com assumed coverage on WEC Energy Group in a research report on Thursday, March 31st. They set a hold rating on the stock. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $101.00.

Shares of WEC opened at $100.82 on Friday. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.79 and a quick ratio of 0.54. WEC Energy Group has a one year low of $86.84 and a one year high of $106.82. The firm has a market capitalization of $31.80 billion, a P/E ratio of 23.50, a PEG ratio of 3.81 and a beta of 0.27. The business has a fifty day moving average of $99.81 and a 200 day moving average of $95.30.

WEC Energy Group (NYSE:WECGet Rating) last issued its quarterly earnings data on Monday, May 2nd. The utilities provider reported $1.79 EPS for the quarter, topping the consensus estimate of $1.66 by $0.13. The company had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.83 billion. WEC Energy Group had a return on equity of 12.17% and a net margin of 15.90%. WEC Energy Group’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.61 earnings per share. Analysts expect that WEC Energy Group will post 4.35 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 1st. Investors of record on Friday, May 13th will be given a $0.7275 dividend. The ex-dividend date is Thursday, May 12th. This represents a $2.91 dividend on an annualized basis and a dividend yield of 2.89%. WEC Energy Group’s dividend payout ratio is currently 67.83%.

In related news, VP Anthony Reese sold 1,325 shares of the business’s stock in a transaction dated Tuesday, May 10th. The stock was sold at an average price of $102.47, for a total value of $135,772.75. Following the sale, the vice president now directly owns 905 shares in the company, valued at $92,735.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.34% of the stock is currently owned by insiders.

Several large investors have recently bought and sold shares of WEC. BlackRock Inc. lifted its position in shares of WEC Energy Group by 26.0% in the fourth quarter. BlackRock Inc. now owns 33,040,366 shares of the utilities provider’s stock worth $3,207,228,000 after buying an additional 6,810,208 shares in the last quarter. Nuveen Asset Management LLC increased its stake in WEC Energy Group by 56.3% during the fourth quarter. Nuveen Asset Management LLC now owns 5,250,516 shares of the utilities provider’s stock worth $509,668,000 after acquiring an additional 1,890,747 shares during the last quarter. UBS Asset Management Americas Inc. increased its stake in WEC Energy Group by 61.7% during the third quarter. UBS Asset Management Americas Inc. now owns 2,119,235 shares of the utilities provider’s stock worth $186,917,000 after acquiring an additional 808,281 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in WEC Energy Group during the third quarter worth approximately $40,209,000. Finally, Panagora Asset Management Inc. increased its stake in WEC Energy Group by 365.3% during the fourth quarter. Panagora Asset Management Inc. now owns 569,887 shares of the utilities provider’s stock worth $55,319,000 after acquiring an additional 447,398 shares during the last quarter. Institutional investors own 73.36% of the company’s stock.

WEC Energy Group Company Profile (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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