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

Shares of WEC Energy Group, Inc. (NYSE:WEC) have earned a consensus recommendation of “Hold” from the twelve brokerages that are currently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $86.64.

Several research analysts have recently weighed in on WEC shares. JPMorgan Chase & Co. lowered shares of WEC Energy Group from a “neutral” rating to an “underweight” rating and lowered their price objective for the stock from $90.00 to $84.00 in a research note on Friday, February 2nd. Scotiabank cut their price target on shares of WEC Energy Group from $96.00 to $90.00 and set a “sector outperform” rating for the company in a report on Monday, April 22nd. Bank of America reiterated an “underperform” rating and set a $78.00 price objective (down from $84.00) on shares of WEC Energy Group in a research report on Thursday, January 4th. Barclays decreased their price target on shares of WEC Energy Group from $79.00 to $75.00 and set an “underweight” rating for the company in a research report on Thursday, February 8th. Finally, The Goldman Sachs Group initiated coverage on shares of WEC Energy Group in a research report on Wednesday, April 10th. They set a “neutral” rating and a $88.00 price objective for the company.

Insider Activity at WEC Energy Group

In other news, CEO Scott J. Lauber sold 2,830 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $78.89, for a total transaction of $223,258.70. Following the sale, the chief executive officer now owns 43,125 shares of the company’s stock, valued at approximately $3,402,131.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Chairman Gale E. Klappa sold 37,180 shares of WEC Energy Group stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $78.69, for a total transaction of $2,925,694.20. Following the sale, the chairman now owns 274,782 shares in the company, valued at $21,622,595.58. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Scott J. Lauber sold 2,830 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $78.89, for a total transaction of $223,258.70. Following the completion of the transaction, the chief executive officer now directly owns 43,125 shares of the company’s stock, valued at $3,402,131.25. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of WEC. Northwest Bank & Trust Co purchased a new stake in shares of WEC Energy Group during the fourth quarter valued at $25,000. Opal Wealth Advisors LLC bought a new position in WEC Energy Group in the first quarter worth about $25,000. Tennessee Valley Asset Management Partners bought a new position in WEC Energy Group in the fourth quarter worth about $26,000. Valued Wealth Advisors LLC bought a new position in WEC Energy Group in the fourth quarter worth about $28,000. Finally, First United Bank & Trust purchased a new stake in shares of WEC Energy Group during the fourth quarter worth about $30,000. 77.20% of the stock is owned by hedge funds and other institutional investors.

WEC Energy Group Stock Performance

NYSE WEC opened at $81.50 on Friday. The company has a current ratio of 0.55, a quick ratio of 0.40 and a debt-to-equity ratio of 1.29. The firm has a market cap of $25.71 billion, a price-to-earnings ratio of 19.31, a PEG ratio of 2.86 and a beta of 0.40. The company has a 50 day moving average of $80.25 and a 200-day moving average of $81.43. WEC Energy Group has a 1-year low of $75.13 and a 1-year high of $97.34.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings results on Thursday, February 1st. The utilities provider reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.02. The company had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.82 billion. WEC Energy Group had a net margin of 14.98% and a return on equity of 12.17%. The business’s quarterly revenue was down 13.3% compared to the same quarter last year. During the same period last year, the firm posted $0.80 earnings per share. On average, equities analysts forecast that WEC Energy Group will post 4.88 earnings per share for the current fiscal year.

WEC Energy Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 14th will be paid a $0.835 dividend. The ex-dividend date of this dividend is Monday, May 13th. This represents a $3.34 annualized dividend and a dividend yield of 4.10%. WEC Energy Group’s payout ratio is 79.15%.

WEC Energy Group Company Profile

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.