WEC Energy Group (NYSE:WEC) Given New $90.00 Price Target at Scotiabank

WEC Energy Group (NYSE:WEC) had its price objective cut by Scotiabank from $96.00 to $90.00 in a report published on Monday morning, Benzinga reports. They currently have a sector outperform rating on the utilities provider’s stock.

Several other research analysts have also recently weighed in on WEC. Wells Fargo & Company reduced their price target on WEC Energy Group from $93.00 to $91.00 and set an overweight rating for the company in a research report on Friday, February 2nd. Barclays lowered their price target on shares of WEC Energy Group from $79.00 to $75.00 and set an underweight rating on the stock in a report on Thursday, February 8th. Royal Bank of Canada cut their price objective on shares of WEC Energy Group from $95.00 to $90.00 and set a sector perform rating for the company in a report on Thursday, February 8th. Bank of America reissued an underperform rating and set a $78.00 target price (down from $84.00) on shares of WEC Energy Group in a research note on Thursday, January 4th. Finally, StockNews.com cut WEC Energy Group from a hold rating to a sell rating in a report on Saturday, January 13th. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $86.64.

WEC Energy Group Trading Up 0.5 %

WEC Energy Group stock opened at $81.97 on Monday. WEC Energy Group has a 52 week low of $75.13 and a 52 week high of $98.80. The stock has a 50-day moving average price of $79.86 and a 200 day moving average price of $81.40. The company has a quick ratio of 0.40, a current ratio of 0.55 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $25.86 billion, a price-to-earnings ratio of 19.42, a price-to-earnings-growth ratio of 2.84 and a beta of 0.40.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Thursday, February 1st. The utilities provider reported $1.10 EPS for the quarter, beating the consensus estimate of $1.08 by $0.02. WEC Energy Group had a net margin of 14.98% and a return on equity of 12.17%. The business had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.82 billion. During the same period in the prior year, the firm earned $0.80 EPS. The business’s revenue for the quarter was down 13.3% on a year-over-year basis. Sell-side analysts anticipate that WEC Energy Group will post 4.88 EPS for the current year.

WEC Energy Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 14th will be paid a dividend of $0.835 per share. The ex-dividend date is Monday, May 13th. This represents a $3.34 annualized dividend and a yield of 4.07%. WEC Energy Group’s dividend payout ratio (DPR) is presently 79.15%.

Insider Activity

In related news, CEO Scott J. Lauber sold 2,830 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $78.89, for a total transaction of $223,258.70. Following the completion of the sale, the chief executive officer now owns 43,125 shares of the company’s stock, valued at approximately $3,402,131.25. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Scott J. Lauber sold 2,830 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $78.89, for a total value of $223,258.70. Following the sale, the chief executive officer now directly owns 43,125 shares of the company’s stock, valued at approximately $3,402,131.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Gale E. Klappa sold 37,180 shares of the company’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 transaction of $2,925,694.20. Following the completion of the transaction, the chairman now owns 274,782 shares in the company, valued at $21,622,595.58. The disclosure for this sale can be found here. Company insiders own 0.44% of the company’s stock.

Institutional Investors Weigh In On WEC Energy Group

Several institutional investors and hedge funds have recently modified their holdings of WEC. Northwest Bank & Trust Co acquired a new stake in WEC Energy Group in the fourth quarter valued at approximately $25,000. Opal Wealth Advisors LLC acquired a new stake in shares of WEC Energy Group in the 1st quarter valued at $25,000. Tennessee Valley Asset Management Partners acquired a new position in shares of WEC Energy Group during the fourth quarter worth $26,000. Valued Wealth Advisors LLC purchased a new position in WEC Energy Group in the fourth quarter valued at $28,000. Finally, First United Bank & Trust acquired a new stake in WEC Energy Group in the fourth quarter valued at $30,000. Hedge funds and other institutional investors own 77.20% of the company’s stock.

About WEC Energy Group

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.