WEC Energy Group, Inc. (NYSE:WEC) Given Average Rating of “Hold” by Brokerages

Shares of WEC Energy Group, Inc. (NYSE:WEC) have earned a consensus rating of “Hold” from the ten brokerages that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $91.00.

A number of research firms recently issued reports on WEC. LADENBURG THALM/SH SH began coverage on WEC Energy Group in a research note on Monday, September 11th. They set a “neutral” rating and a $85.00 price target on the stock. KeyCorp dropped their price target on WEC Energy Group from $102.00 to $94.00 and set an “overweight” rating on the stock in a research note on Thursday, October 5th. Guggenheim lowered their target price on WEC Energy Group from $94.00 to $84.00 in a research note on Monday, October 9th. Bank of America downgraded WEC Energy Group from a “buy” rating to a “neutral” rating and lowered their target price for the company from $102.00 to $86.00 in a research note on Tuesday, October 17th. Finally, UBS Group lowered their target price on WEC Energy Group from $87.00 to $80.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 4th.

Hedge Funds Weigh In On WEC Energy Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quilter Plc acquired a new position in WEC Energy Group during the first quarter worth $234,348,000. Graham Capital Wealth Management LLC acquired a new position in shares of WEC Energy Group in the first quarter worth $243,610,000. Achmea Investment Management B.V. acquired a new position in shares of WEC Energy Group in the first quarter worth $27,000. Northwest Bank & Trust Co acquired a new position in shares of WEC Energy Group in the second quarter worth $26,000. Finally, First Manhattan Co. raised its holdings in shares of WEC Energy Group by 102.0% in the fourth quarter. First Manhattan Co. now owns 303 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 153 shares during the last quarter. 75.75% of the stock is owned by institutional investors and hedge funds.

WEC Energy Group Price Performance

WEC stock opened at $83.95 on Friday. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.60 and a quick ratio of 0.45. The firm has a market capitalization of $26.48 billion, a P/E ratio of 19.39, a P/E/G ratio of 3.11 and a beta of 0.43. The business’s 50-day moving average is $82.98 and its two-hundred day moving average is $87.74. WEC Energy Group has a 1 year low of $75.47 and a 1 year high of $101.11.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings results on Tuesday, October 31st. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.09. WEC Energy Group had a return on equity of 11.48% and a net margin of 14.80%. The company had revenue of $1.96 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter last year, the company earned $0.96 EPS. WEC Energy Group’s revenue for the quarter was down 2.3% compared to the same quarter last year. Analysts anticipate that WEC Energy Group will post 4.61 earnings per share for the current fiscal year.

WEC Energy Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Tuesday, November 14th will be issued a dividend of $0.78 per share. The ex-dividend date is Monday, November 13th. This represents a $3.12 annualized dividend and a yield of 3.72%. WEC Energy Group’s dividend payout ratio is presently 72.06%.

WEC Energy Group Company Profile

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.