WEC Energy Group (NYSE:WEC) Upgraded at Royal Bank Of Canada

Royal Bank Of Canada upgraded shares of WEC Energy Group (NYSE:WEC) to a hold rating in a research report report published on Monday,Zacks.com reports.

A number of other analysts also recently commented on the company. UBS Group raised their price objective on WEC Energy Group from $117.00 to $122.00 and gave the stock a “neutral” rating in a research report on Friday, October 10th. Scotiabank upped their target price on shares of WEC Energy Group from $115.00 to $129.00 and gave the company an “outperform” rating in a research note on Monday, October 6th. Wall Street Zen raised WEC Energy Group from a “sell” rating to a “hold” rating in a report on Saturday, October 4th. Citigroup initiated coverage on WEC Energy Group in a research note on Friday, October 3rd. They issued a “buy” rating and a $131.00 price target on the stock. Finally, TD Cowen assumed coverage on WEC Energy Group in a research report on Thursday, October 16th. They issued a “hold” rating and a $125.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $120.14.

WEC Energy Group Stock Performance

Shares of NYSE WEC opened at $114.61 on Monday. WEC Energy Group has a 12 month low of $91.94 and a 12 month high of $118.18. The company has a market cap of $36.89 billion, a P/E ratio of 21.96, a P/E/G ratio of 3.25 and a beta of 0.47. The business’s 50 day moving average is $111.77 and its two-hundred day moving average is $108.62. 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 (NYSE:WEC) last posted its quarterly earnings data on Tuesday, September 2nd. The utilities provider reported $1.43 earnings per share for the quarter. WEC Energy Group had a return on equity of 12.90% and a net margin of 17.87%.The company had revenue of $2.28 billion during the quarter. On average, equities analysts expect that WEC Energy Group will post 5.23 EPS for the current year.

WEC Energy Group Announces Dividend

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

Insider Buying and Selling at WEC Energy Group

In related news, Director Ulice Payne, Jr. sold 1,620 shares of the stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $111.00, for a total value of $179,820.00. Following the transaction, the director directly owned 20,360 shares in the company, valued at $2,259,960. This represents a 7.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Daniel Krueger sold 5,930 shares of the firm’s stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $111.14, for a total transaction of $659,060.20. Following the completion of the transaction, the executive vice president directly owned 6,606 shares in the company, valued at approximately $734,190.84. The trade was a 47.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 68,448 shares of company stock valued at $7,581,132 over the last 90 days. Company insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On WEC Energy Group

Several hedge funds have recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC grew its position in shares of WEC Energy Group by 252.6% during the 1st quarter. Golden State Wealth Management LLC now owns 342 shares of the utilities provider’s stock worth $37,000 after buying an additional 245 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in WEC Energy Group by 18.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 33,305 shares of the utilities provider’s stock worth $3,582,000 after acquiring an additional 5,191 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in WEC Energy Group by 2.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 145,813 shares of the utilities provider’s stock valued at $15,878,000 after purchasing an additional 2,992 shares during the period. KBC Group NV increased its stake in WEC Energy Group by 4.7% in the first quarter. KBC Group NV now owns 26,331 shares of the utilities provider’s stock valued at $2,870,000 after purchasing an additional 1,184 shares in the last quarter. Finally, Avidian Wealth Enterprises LLC bought a new stake in WEC Energy Group in the first quarter valued at approximately $216,000. Institutional investors and hedge funds own 77.20% of the company’s stock.

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.