WEC Energy Group, Inc. (NYSE:WEC) Receives Consensus Rating of “Moderate Buy” from Brokerages

WEC Energy Group, Inc. (NYSE:WEC) has received an average rating of “Moderate Buy” from the sixteen analysts that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, eight have given a hold recommendation, five have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $120.2143.

Several brokerages have issued reports on WEC. Weiss Ratings reaffirmed a “buy (b)” rating on shares of WEC Energy Group in a report on Wednesday. Royal Bank Of Canada set a $131.00 target price on WEC Energy Group in a report on Monday, October 27th. BTIG Research raised WEC Energy Group to a “strong-buy” rating in a research note on Wednesday, October 22nd. Scotiabank boosted their price objective on shares of WEC Energy Group from $129.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, October 31st. Finally, Wells Fargo & Company initiated coverage on shares of WEC Energy Group in a report on Monday, October 27th. They set an “overweight” rating and a $124.00 target price for the company.

WEC Energy Group Trading Up 0.4%

Shares of WEC Energy Group stock opened at $111.08 on Friday. The company has a fifty day simple moving average of $113.10 and a 200-day simple moving average of $108.98. WEC Energy Group has a 12-month low of $91.94 and a 12-month high of $118.18. The company has a current ratio of 0.50, a quick ratio of 0.33 and a debt-to-equity ratio of 1.29. The stock has a market cap of $36.13 billion, a price-to-earnings ratio of 21.00, a PEG ratio of 2.81 and a beta of 0.48.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings results on Tuesday, September 2nd. The utilities provider reported $1.43 earnings per share for the quarter. The firm had revenue of $2.28 billion during the quarter. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.60%. On average, equities analysts forecast that WEC Energy Group will post 5.23 EPS for the current fiscal year.

WEC Energy Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 14th will be paid a dividend of $0.8925 per share. This represents a $3.57 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, November 14th. WEC Energy Group’s dividend payout ratio (DPR) is currently 67.49%.

Institutional Trading of WEC Energy Group

A number of institutional investors and hedge funds have recently made changes to their positions in the company. CVA Family Office LLC boosted its position in WEC Energy Group by 25.4% during the 3rd quarter. CVA Family Office LLC now owns 440 shares of the utilities provider’s stock worth $50,000 after purchasing an additional 89 shares during the period. Blossom Wealth Management lifted its stake in shares of WEC Energy Group by 1.4% during the third quarter. Blossom Wealth Management now owns 6,439 shares of the utilities provider’s stock worth $738,000 after purchasing an additional 90 shares in the last quarter. Verdence Capital Advisors LLC boosted its position in shares of WEC Energy Group by 1.6% in the second quarter. Verdence Capital Advisors LLC now owns 5,712 shares of the utilities provider’s stock worth $595,000 after buying an additional 92 shares during the period. Manchester Capital Management LLC grew its stake in shares of WEC Energy Group by 14.3% in the first quarter. Manchester Capital Management LLC now owns 744 shares of the utilities provider’s stock valued at $81,000 after buying an additional 93 shares in the last quarter. Finally, Moors & Cabot Inc. raised its holdings in shares of WEC Energy Group by 1.7% during the 3rd quarter. Moors & Cabot Inc. now owns 5,511 shares of the utilities provider’s stock valued at $632,000 after buying an additional 93 shares during the period. 77.20% of the stock is currently owned by institutional investors and hedge funds.

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.