WEC Energy Group, Inc. (NYSE:WEC) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of WEC Energy Group, Inc. (NYSE:WEC) have been given an average rating of “Hold” by the eleven ratings firms that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $109.30.

Several brokerages recently issued reports on WEC. Citigroup assumed coverage on WEC Energy Group in a report on Friday. They issued a “buy” rating and a $131.00 price target for the company. UBS Group set a $107.00 price objective on shares of WEC Energy Group and gave the stock a “neutral” rating in a report on Friday, July 11th. Weiss Ratings reissued a “buy (b-)” rating on shares of WEC Energy Group in a research report on Saturday, September 27th. Wall Street Zen downgraded WEC Energy Group from a “hold” rating to a “sell” rating in a report on Saturday, July 12th. Finally, The Goldman Sachs Group downgraded shares of WEC Energy Group from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $106.00 to $100.00 in a research report on Wednesday, June 25th.

WEC Energy Group Trading Up 1.1%

Shares of WEC opened at $113.24 on Friday. The firm has a market capitalization of $36.45 billion, a P/E ratio of 21.69, a PEG ratio of 3.08 and a beta of 0.47. The company has a current ratio of 0.55, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28. The firm’s 50-day moving average is $109.36 and its two-hundred day moving average is $107.38. WEC Energy Group has a twelve month low of $91.94 and a twelve month high of $114.97.

WEC Energy Group (NYSE:WEC) last announced its earnings results on Wednesday, July 30th. The utilities provider reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.05. The firm had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.87 billion. WEC Energy Group had a return on equity of 12.90% and a net margin of 17.87%.WEC Energy Group’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.67 EPS. WEC Energy Group has set its FY 2025 guidance at 5.170-5.270 EPS. On average, research analysts predict that WEC Energy Group will post 5.23 earnings per share for the current fiscal year.

WEC Energy Group Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Thursday, August 14th were paid a dividend of $0.8925 per share. This represents a $3.57 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Thursday, August 14th. WEC Energy Group’s payout ratio is presently 68.39%.

Insider Buying and Selling

In other WEC Energy Group news, VP Anthony Reese sold 4,177 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $110.30, for a total transaction of $460,723.10. Following the completion of the transaction, the vice president directly owned 1,757 shares of the company’s stock, valued at approximately $193,797.10. This trade represents a 70.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Molly A. Mulroy sold 4,030 shares of the firm’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $110.33, for a total value of $444,629.90. Following the transaction, the executive vice president directly owned 5,829 shares of the company’s stock, valued at $643,113.57. This represents a 40.88% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 68,448 shares of company stock valued at $7,581,132. Company insiders own 0.50% of the company’s stock.

Institutional Trading of WEC Energy Group

A number of hedge funds have recently bought and sold shares of the company. Truvestments Capital LLC acquired a new stake in shares of WEC Energy Group during the first quarter worth approximately $25,000. Nova Wealth Management Inc. purchased a new position in shares of WEC Energy Group during the 1st quarter valued at $26,000. CoreFirst Bank & Trust purchased a new position in shares of WEC Energy Group during the 2nd quarter valued at $26,000. Bayforest Capital Ltd acquired a new position in shares of WEC Energy Group in the second quarter worth $26,000. Finally, Hughes Financial Services LLC purchased a new stake in shares of WEC Energy Group during the first quarter worth $28,000. 77.20% of the stock is 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.