WEC Energy Group (NYSE:WEC) Price Target Raised to $90.00

WEC Energy Group (NYSE:WEC) had its target price lifted by BMO Capital Markets from $89.00 to $90.00 in a research report sent to investors on Thursday, Benzinga reports. BMO Capital Markets currently has a market perform rating on the utilities provider’s stock.

A number of other analysts have also issued reports on WEC. The Goldman Sachs Group initiated coverage on shares of 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. KeyCorp increased their price target on shares of WEC Energy Group from $95.00 to $96.00 and gave the stock an overweight rating in a research note on Friday, April 19th. Scotiabank cut their price target on shares of WEC Energy Group from $96.00 to $90.00 and set a sector outperform rating on the stock in a research note on Monday, April 22nd. Wells Fargo & Company cut their price target on shares of WEC Energy Group from $93.00 to $91.00 and set an overweight rating on the stock in a research note on Friday, February 2nd. Finally, StockNews.com downgraded shares of WEC Energy Group from a hold rating to a sell rating in a research note on Saturday, January 13th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $86.29.

WEC Energy Group Stock Up 0.2 %

Shares of NYSE WEC opened at $83.22 on Thursday. WEC Energy Group has a 1 year low of $75.13 and a 1 year high of $96.17. The firm’s 50 day moving average price is $80.69 and its 200 day moving average price is $81.44. The firm has a market cap of $26.25 billion, a P/E ratio of 18.17, a price-to-earnings-growth ratio of 2.88 and a beta of 0.40. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.40 and a current ratio of 0.55.

WEC Energy Group (NYSE:WEC) last announced its earnings results on Wednesday, May 1st. The utilities provider reported $1.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.07. WEC Energy Group had a net margin of 16.67% and a return on equity of 13.01%. The firm had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.92 billion. During the same quarter last year, the business earned $1.61 earnings per share. WEC Energy Group’s revenue was down 7.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that WEC Energy Group will post 4.87 earnings per share for the current year.

WEC Energy Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Tuesday, May 14th will be paid a $0.835 dividend. This represents a $3.34 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date is Monday, May 13th. WEC Energy Group’s dividend payout ratio is presently 72.93%.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. grew its holdings in WEC Energy Group by 7.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 7,183 shares of the utilities provider’s stock worth $590,000 after acquiring an additional 467 shares in the last quarter. Richardson Financial Services Inc. grew its holdings in WEC Energy Group by 30.6% during the 1st quarter. Richardson Financial Services Inc. now owns 1,537 shares of the utilities provider’s stock worth $126,000 after acquiring an additional 360 shares in the last quarter. Mediolanum International Funds Ltd acquired a new position in WEC Energy Group during the 1st quarter worth $3,146,000. Callan Capital LLC grew its holdings in WEC Energy Group by 11.9% during the 1st quarter. Callan Capital LLC now owns 3,396 shares of the utilities provider’s stock worth $279,000 after acquiring an additional 361 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S grew its holdings in WEC Energy Group by 93.1% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 14,229 shares of the utilities provider’s stock worth $1,168,000 after acquiring an additional 6,861 shares in the last quarter. 77.20% of the stock is owned by institutional investors and hedge funds.

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.