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

WEC Energy Group, Inc. (NYSE:WECGet Free Report) has been assigned an average recommendation of “Hold” from the twelve ratings firms that are currently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $85.92.

A number of equities research analysts have recently weighed in on the company. Scotiabank lowered their price target on WEC Energy Group from $96.00 to $90.00 and set a “sector outperform” rating for the company in a report on Monday, April 22nd. The Goldman Sachs Group started coverage on shares of WEC Energy Group in a report on Wednesday, April 10th. They set a “neutral” rating and a $88.00 target price on the stock. StockNews.com raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a report on Thursday, May 9th. KeyCorp increased their price objective 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. Finally, BMO Capital Markets lifted their target price on WEC Energy Group from $89.00 to $90.00 and gave the company a “market perform” rating in a research note on Thursday, May 2nd.

Get Our Latest Stock Report on WEC Energy Group

Hedge Funds Weigh In On WEC Energy Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Morgan Stanley increased its stake in shares of WEC Energy Group by 1.4% during the third quarter. Morgan Stanley now owns 3,354,181 shares of the utilities provider’s stock valued at $270,179,000 after acquiring an additional 44,797 shares during the period. Comerica Bank lifted its holdings in shares of WEC Energy Group by 2,546.1% in the third quarter. Comerica Bank now owns 92,271 shares of the utilities provider’s stock valued at $7,432,000 after buying an additional 88,784 shares during the period. Public Sector Pension Investment Board lifted its holdings in shares of WEC Energy Group by 6.2% in the third quarter. Public Sector Pension Investment Board now owns 73,550 shares of the utilities provider’s stock valued at $5,924,000 after buying an additional 4,283 shares during the period. EP Wealth Advisors LLC boosted its stake in WEC Energy Group by 34.8% during the third quarter. EP Wealth Advisors LLC now owns 3,794 shares of the utilities provider’s stock valued at $306,000 after buying an additional 980 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in WEC Energy Group by 5,257.7% during the third quarter. American Century Companies Inc. now owns 1,465,114 shares of the utilities provider’s stock worth $118,015,000 after acquiring an additional 1,437,768 shares during the period. Institutional investors own 77.20% of the company’s stock.

WEC Energy Group Stock Up 0.2 %

Shares of NYSE:WEC opened at $78.19 on Thursday. WEC Energy Group has a 12-month low of $75.13 and a 12-month high of $93.37. The company has a current ratio of 0.55, a quick ratio of 0.42 and a debt-to-equity ratio of 1.24. The firm has a market cap of $24.69 billion, a PE ratio of 17.07, a price-to-earnings-growth ratio of 2.02 and a beta of 0.41. The company has a fifty day simple moving average of $80.70 and a 200 day simple moving average of $80.77.

WEC Energy Group (NYSE:WECGet Free Report) last issued its earnings results on Wednesday, May 1st. The utilities provider reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.07. The business had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.92 billion. WEC Energy Group had a net margin of 16.67% and a return on equity of 13.01%. The company’s revenue for the quarter was down 7.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.61 EPS. On average, equities research analysts anticipate that WEC Energy Group will post 4.87 EPS for the current fiscal year.

WEC Energy Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Tuesday, May 14th were paid a dividend of $0.835 per share. This represents a $3.34 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date of this dividend was Monday, May 13th. WEC Energy Group’s dividend payout ratio is currently 72.93%.

About WEC Energy Group

(Get Free Report

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.

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Analyst Recommendations for WEC Energy Group (NYSE:WEC)

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