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

WEC Energy Group, Inc. (NYSE:WEC) has been given a consensus recommendation of “Hold” by the fifteen brokerages that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $120.1429.

A number of research analysts have issued reports on WEC shares. KeyCorp boosted their target price on WEC Energy Group from $110.00 to $123.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. Cowen started coverage on WEC Energy Group in a research note on Wednesday, October 15th. They issued a “hold” rating for the company. Royal Bank Of Canada set a $131.00 price target on WEC Energy Group in a report on Monday. Scotiabank boosted their price target on WEC Energy Group from $115.00 to $129.00 and gave the company an “outperform” rating in a report on Monday, October 6th. Finally, BMO Capital Markets boosted their price target on WEC Energy Group from $114.00 to $120.00 and gave the company a “market perform” rating in a report on Tuesday, October 21st.

Insider Buying and Selling

In related news, Director Gale E. Klappa sold 5,960 shares of the company’s stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $110.98, for a total transaction of $661,440.80. Following the sale, the director owned 274,969 shares in the company, valued at approximately $30,516,059.62. This represents a 2.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Daniel Krueger sold 5,930 shares of the company’s stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $111.14, for a total value of $659,060.20. Following the sale, the executive vice president owned 6,606 shares in the company, valued at $734,190.84. The trade was a 47.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 68,448 shares of company stock valued at $7,581,132. Corporate insiders own 0.50% of the company’s stock.

Institutional Trading of WEC Energy Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Truvestments Capital LLC bought a new stake in WEC Energy Group in the first quarter valued at approximately $25,000. Nova Wealth Management Inc. bought a new stake in WEC Energy Group in the first quarter valued at approximately $26,000. CoreFirst Bank & Trust bought a new stake in WEC Energy Group in the second quarter valued at approximately $26,000. Bayforest Capital Ltd bought a new stake in WEC Energy Group in the second quarter valued at approximately $26,000. Finally, Hughes Financial Services LLC bought a new stake in WEC Energy Group in the first quarter valued at approximately $28,000. Institutional investors own 77.20% of the company’s stock.

WEC Energy Group Trading Down 1.2%

WEC stock opened at $115.32 on Wednesday. The company has a quick ratio of 0.40, a current ratio of 0.55 and a debt-to-equity ratio of 1.28. WEC Energy Group has a twelve month low of $91.94 and a twelve month high of $118.18. The business has a fifty day moving average of $111.66 and a 200-day moving average of $108.57. The company has a market cap of $37.12 billion, a P/E ratio of 22.09, a PEG ratio of 3.29 and a beta of 0.47.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data on Tuesday, September 2nd. The utilities provider reported $1.43 EPS for the quarter. WEC Energy Group had a return on equity of 12.90% and a net margin of 17.87%.The business had revenue of $2.28 billion during the quarter. As a group, equities research analysts expect that WEC Energy Group will post 5.23 EPS for the current year.

WEC Energy Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be issued a $0.8925 dividend. This represents a $3.57 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Friday, November 14th. WEC Energy Group’s payout ratio is 68.39%.

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.