WEC Energy Group (NYSE:WEC) Upgraded at Wells Fargo & Company

Wells Fargo & Company upgraded shares of WEC Energy Group (NYSE:WEC) to a strong-buy rating in a research note released on Monday morning,Zacks.com reports.

A number of other research analysts have also weighed in on the company. TD Cowen began coverage on WEC Energy Group in a report on Thursday, October 16th. They issued a “hold” rating and a $125.00 price objective on the stock. Royal Bank Of Canada set a $131.00 price objective on WEC Energy Group in a report on Monday. KeyCorp raised their price objective on WEC Energy Group from $110.00 to $123.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. Mizuho set a $125.00 price objective on shares of WEC Energy Group in a research note on Monday. Finally, BMO Capital Markets upped their price objective on shares of WEC Energy Group from $114.00 to $120.00 and gave the company a “market perform” rating in a research note on Tuesday, October 21st. Two equities research 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 issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $120.14.

WEC Energy Group Trading Down 0.5%

WEC stock 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 business’s 50-day moving average is $111.77 and its 200 day moving average is $108.62. 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 stock has a market cap of $36.89 billion, a price-to-earnings ratio of 21.96, a PEG ratio of 3.25 and a beta of 0.47.

WEC Energy Group (NYSE:WEC) last released its earnings results on Tuesday, September 2nd. The utilities provider reported $1.43 earnings per share for the quarter. The business had revenue of $2.28 billion for the quarter. WEC Energy Group had a return on equity of 12.90% and a net margin of 17.87%. On average, sell-side analysts anticipate that WEC Energy Group will post 5.23 EPS for the current fiscal year.

WEC Energy Group Announces Dividend

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

Insider Activity

In related news, CEO Scott J. Lauber sold 9,231 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $110.88, for a total value of $1,023,533.28. Following the sale, the chief executive officer owned 56,443 shares of the company’s stock, valued at approximately $6,258,399.84. This represents a 14.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gale E. Klappa sold 35,000 shares of the firm’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $110.73, for a total value of $3,875,550.00. Following the transaction, the director directly owned 274,969 shares of the company’s stock, valued at $30,447,317.37. The trade was a 11.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 68,448 shares of company stock worth $7,581,132. 0.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WEC. Sugar Maple Asset Management LLC acquired a new stake in shares of WEC Energy Group during the 3rd quarter worth about $203,000. Sage Mountain Advisors LLC purchased a new position in shares of WEC Energy Group during the third quarter valued at approximately $1,012,000. Inscription Capital LLC acquired a new stake in WEC Energy Group during the third quarter worth approximately $223,000. Root Financial Partners LLC purchased a new stake in WEC Energy Group in the 3rd quarter worth approximately $84,000. Finally, Arkadios Wealth Advisors grew its stake in WEC Energy Group by 7.8% in the 3rd quarter. Arkadios Wealth Advisors now owns 10,399 shares of the utilities provider’s stock worth $1,192,000 after acquiring an additional 755 shares during the period. 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.