WEC Energy Group (NYSE:WEC) Raised to “Buy” at Bank of America

WEC Energy Group (NYSE:WECGet Rating) was upgraded by equities research analysts at Bank of America from a “neutral” rating to a “buy” rating in a note issued to investors on Friday, The Fly reports.

A number of other equities research analysts also recently weighed in on the company. Evercore ISI reaffirmed a “hold” rating and issued a $97.00 target price on shares of WEC Energy Group in a report on Friday, February 4th. Credit Suisse Group began coverage on WEC Energy Group in a report on Monday, April 25th. They issued a “neutral” rating and a $108.00 target price on the stock. The Goldman Sachs Group raised WEC Energy Group from a “sell” rating to a “neutral” rating and set a $99.00 price objective on the stock in a report on Thursday, January 13th. StockNews.com began coverage on WEC Energy Group in a report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, BMO Capital Markets reissued a “hold” rating and set a $98.00 price objective on shares of WEC Energy Group in a report on Friday, February 4th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $101.00.

WEC Energy Group stock opened at $100.82 on Friday. The stock’s fifty day moving average price is $99.81 and its two-hundred day moving average price is $95.30. WEC Energy Group has a one year low of $86.84 and a one year high of $106.82. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.79 and a quick ratio of 0.54. The firm has a market cap of $31.80 billion, a PE ratio of 23.50, a price-to-earnings-growth ratio of 3.81 and a beta of 0.27.

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

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

Several hedge funds have recently bought and sold shares of WEC. BlackRock Inc. raised its position in shares of WEC Energy Group by 26.0% in the 4th quarter. BlackRock Inc. now owns 33,040,366 shares of the utilities provider’s stock worth $3,207,228,000 after acquiring an additional 6,810,208 shares in the last quarter. Nuveen Asset Management LLC raised its position in shares of WEC Energy Group by 56.3% in the 4th 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 in the last quarter. UBS Asset Management Americas Inc. raised its position in shares of WEC Energy Group by 61.7% in the 3rd 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 in the last quarter. Point72 Asset Management L.P. bought a new position in shares of WEC Energy Group in the 3rd quarter worth about $40,209,000. Finally, Panagora Asset Management Inc. raised its position in shares of WEC Energy Group by 365.3% in the 4th 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 in the last quarter. 73.36% of the stock is owned by hedge funds and other institutional investors.

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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