WEC Energy Group (NYSE:WEC) Given New $96.00 Price Target at KeyCorp

WEC Energy Group (NYSE:WEC) had its target price boosted by investment analysts at KeyCorp from $95.00 to $96.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the utilities provider’s stock. KeyCorp’s price objective indicates a potential upside of 17.70% from the stock’s current price.

A number of other research firms also recently weighed in on WEC. The Goldman Sachs Group initiated coverage on WEC Energy Group in a research report on Wednesday, April 10th. They set a “neutral” rating and a $88.00 target price on the stock. JPMorgan Chase & Co. downgraded WEC Energy Group from a “neutral” rating to an “underweight” rating and decreased their price objective for the company from $90.00 to $84.00 in a report on Friday, February 2nd. Wells Fargo & Company decreased their price objective on WEC Energy Group from $93.00 to $91.00 and set an “overweight” rating on the stock in a report on Friday, February 2nd. Royal Bank of Canada decreased their price objective on WEC Energy Group from $95.00 to $90.00 and set a “sector perform” rating on the stock in a report on Thursday, February 8th. Finally, StockNews.com downgraded WEC Energy Group from a “hold” rating to a “sell” rating in a report on Saturday, January 13th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, WEC Energy Group has an average rating of “Hold” and an average price target of $86.38.

WEC Energy Group Stock Up 1.4 %

WEC stock opened at $81.56 on Friday. WEC Energy Group has a twelve month low of $75.13 and a twelve month high of $98.80. The company has a market cap of $25.73 billion, a PE ratio of 19.33, a price-to-earnings-growth ratio of 2.80 and a beta of 0.40. The business’s 50-day simple moving average is $79.78 and its 200 day simple moving average is $81.37. The company has a quick ratio of 0.40, a current ratio of 0.55 and a debt-to-equity ratio of 1.29.

WEC Energy Group (NYSE:WEC) last released its earnings results on Thursday, February 1st. The utilities provider reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.02. WEC Energy Group had a return on equity of 12.17% and a net margin of 14.98%. The business had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.82 billion. During the same period last year, the business earned $0.80 earnings per share. The firm’s revenue for the quarter was down 13.3% compared to the same quarter last year. On average, research analysts anticipate that WEC Energy Group will post 4.88 earnings per share for the current year.

Insider Transactions at WEC Energy Group

In other news, Chairman Gale E. Klappa sold 37,180 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $78.69, for a total value of $2,925,694.20. Following the transaction, the chairman now directly owns 274,782 shares of the company’s stock, valued at approximately $21,622,595.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Chairman Gale E. Klappa sold 37,180 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $78.69, for a total value of $2,925,694.20. Following the completion of the transaction, the chairman now owns 274,782 shares in the company, valued at approximately $21,622,595.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Scott J. Lauber sold 2,830 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $78.89, for a total transaction of $223,258.70. Following the completion of the transaction, the chief executive officer now owns 43,125 shares of the company’s stock, valued at approximately $3,402,131.25. The disclosure for this sale can be found here. 0.34% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Kesler Norman & Wride LLC raised its position in WEC Energy Group by 6.6% in the 1st quarter. Kesler Norman & Wride LLC now owns 18,470 shares of the utilities provider’s stock worth $1,517,000 after purchasing an additional 1,149 shares during the last quarter. Leeward Investments LLC MA raised its position in WEC Energy Group by 4.0% in the 1st quarter. Leeward Investments LLC MA now owns 163,685 shares of the utilities provider’s stock worth $13,442,000 after purchasing an additional 6,288 shares during the last quarter. Norden Group LLC bought a new position in WEC Energy Group in the 1st quarter worth approximately $9,095,000. United Capital Management of KS Inc. raised its position in WEC Energy Group by 10.6% in the 1st quarter. United Capital Management of KS Inc. now owns 30,773 shares of the utilities provider’s stock worth $2,527,000 after purchasing an additional 2,952 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its position in WEC Energy Group by 0.4% in the 1st quarter. State of Alaska Department of Revenue now owns 34,210 shares of the utilities provider’s stock worth $2,809,000 after purchasing an additional 145 shares during the last quarter. Institutional investors own 77.20% of the company’s stock.

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. It operates through Wisconsin, Illinois, Other States, Electric Transmission, and Non-Utility Energy Infrastructure segments.