WEC Energy Group (NYSE:WEC) Downgraded to Sell Rating by Wall Street Zen

WEC Energy Group (NYSE:WEC) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Several other research analysts have also commented on the company. UBS Group lifted their price target on WEC Energy Group from $105.00 to $107.00 and gave the stock a “neutral” rating in a research report on Friday. Scotiabank set a $115.00 target price on WEC Energy Group and gave the stock an “outperform” rating in a report on Wednesday, May 7th. The Goldman Sachs Group lowered shares of WEC Energy Group from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $106.00 to $100.00 in a research note on Wednesday, June 25th. Wells Fargo & Company lifted their price objective on shares of WEC Energy Group from $115.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 7th. Finally, Barclays lifted their price target on shares of WEC Energy Group from $99.00 to $101.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 29th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $106.40.

WEC Energy Group Stock Performance

NYSE WEC opened at $105.49 on Friday. The stock has a market capitalization of $33.67 billion, a PE ratio of 20.56, a P/E/G ratio of 2.90 and a beta of 0.44. The business has a 50 day simple moving average of $105.52 and a two-hundred day simple moving average of $103.84. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.50 and a quick ratio of 0.40. WEC Energy Group has a 1-year low of $79.47 and a 1-year high of $111.00.

WEC Energy Group (NYSE:WEC) last posted its earnings results on Tuesday, May 6th. The utilities provider reported $2.27 earnings per share for the quarter, beating analysts’ consensus estimates of $2.18 by $0.09. WEC Energy Group had a net margin of 17.95% and a return on equity of 12.94%. The firm had revenue of $3.15 billion during the quarter, compared to analyst estimates of $2.81 billion. During the same period last year, the firm posted $1.97 earnings per share. WEC Energy Group’s revenue for the quarter was up 17.5% compared to the same quarter last year. On average, research analysts predict that WEC Energy Group will post 5.23 EPS for the current fiscal year.

Insider Activity

In related news, VP Joshua M. Erickson sold 2,155 shares of the business’s stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $107.77, for a total value of $232,244.35. Following the completion of the sale, the vice president owned 2,686 shares in the company, valued at approximately $289,470.22. The trade was a 44.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On WEC Energy Group

Several hedge funds have recently made changes to their positions in WEC. Truvestments Capital LLC purchased a new stake in WEC Energy Group in the first quarter worth about $25,000. Nova Wealth Management Inc. purchased a new stake in shares of WEC Energy Group in the 1st quarter worth approximately $26,000. Prudent Man Investment Management Inc. purchased a new stake in shares of WEC Energy Group in the 4th quarter worth approximately $28,000. Hughes Financial Services LLC purchased a new stake in shares of WEC Energy Group in the 1st quarter worth approximately $28,000. Finally, Opal Wealth Advisors LLC purchased a new stake in WEC Energy Group during the first quarter worth $32,000. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

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.