WEC Energy Group (NYSE:WEC) Price Target Raised to $101.00

WEC Energy Group (NYSE:WEC) had its price target boosted by Barclays from $99.00 to $101.00 in a research report report published on Tuesday,Benzinga reports. They currently have an equal weight rating on the utilities provider’s stock.

WEC has been the subject of a number of other reports. JPMorgan Chase & Co. raised WEC Energy Group from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $106.00 to $108.00 in a research report on Tuesday, April 8th. StockNews.com upgraded shares of WEC Energy Group from a “sell” rating to a “hold” rating in a report on Wednesday, April 16th. Wells Fargo & Company increased their price objective on shares of WEC Energy Group from $112.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. Finally, BMO Capital Markets lifted their price objective on shares of WEC Energy Group from $95.00 to $100.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 5th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, WEC Energy Group presently has a consensus rating of “Hold” and an average price target of $105.38.

WEC Energy Group Trading Down 0.7 %

NYSE WEC opened at $108.76 on Tuesday. WEC Energy Group has a one year low of $77.47 and a one year high of $111.00. The firm has a 50 day simple moving average of $106.79 and a 200-day simple moving average of $101.02. The firm has a market cap of $34.70 billion, a price-to-earnings ratio of 22.52, a PEG ratio of 2.60 and a beta of 0.44. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.43 and a current ratio of 0.60.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings results on Tuesday, February 4th. The utilities provider reported $1.43 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.06). The business had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.50 billion. WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. The business’s revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.10 EPS. Equities research analysts anticipate that WEC Energy Group will post 5.23 EPS for the current fiscal year.

WEC Energy Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be issued a $0.8975 dividend. This is a boost from WEC Energy Group’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $3.59 annualized dividend and a dividend yield of 3.30%. WEC Energy Group’s dividend payout ratio is presently 73.91%.

Insider Activity at WEC Energy Group

In other WEC Energy Group news, Director Gale E. Klappa sold 25,000 shares of WEC Energy Group stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $108.62, for a total transaction of $2,715,500.00. Following the transaction, the director now owns 274,955 shares of the company’s stock, valued at $29,865,612.10. The trade was a 8.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Ulice Payne, Jr. sold 1,150 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $104.17, for a total value of $119,795.50. Following the completion of the sale, the director now owns 21,951 shares of the company’s stock, valued at approximately $2,286,635.67. This represents a 4.98 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of WEC. Larson Financial Group LLC grew its holdings in shares of WEC Energy Group by 3,828.6% during the fourth quarter. Larson Financial Group LLC now owns 275 shares of the utilities provider’s stock worth $26,000 after buying an additional 268 shares during the last quarter. Prudent Man Investment Management Inc. purchased a new position in shares of WEC Energy Group in the 4th quarter valued at approximately $28,000. Hughes Financial Services LLC purchased a new position in shares of WEC Energy Group in the 1st quarter valued at approximately $28,000. Opal Wealth Advisors LLC acquired a new position in shares of WEC Energy Group in the first quarter valued at approximately $32,000. Finally, Golden State Wealth Management LLC raised its stake in shares of WEC Energy Group by 252.6% during the first quarter. Golden State Wealth Management LLC now owns 342 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 245 shares during the last quarter. 77.20% of the stock is owned by hedge funds and other institutional investors.

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.