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

WEC Energy Group, Inc. (NYSE:WEC) has earned a consensus rating of “Hold” from the twelve ratings firms that are currently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $86.29.

Several brokerages recently commented on WEC. BMO Capital Markets lifted their price objective on WEC Energy Group from $89.00 to $90.00 and gave the stock a “market perform” rating in a report on Thursday. The Goldman Sachs Group assumed coverage on shares of WEC Energy Group in a report on Wednesday, April 10th. They issued a “neutral” rating and a $88.00 price objective on the stock. KeyCorp upped their target price on shares of WEC Energy Group from $95.00 to $96.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Royal Bank of Canada dropped their price target on shares of WEC Energy Group from $95.00 to $90.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 8th. Finally, Wells Fargo & Company reduced their price objective on WEC Energy Group from $93.00 to $91.00 and set an “overweight” rating for the company in a research note on Friday, February 2nd.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Northwest Bank & Trust Co purchased a new position in shares of WEC Energy Group in the 4th quarter worth $25,000. Opal Wealth Advisors LLC bought a new position in shares of WEC Energy Group in the 1st quarter valued at about $25,000. Tennessee Valley Asset Management Partners purchased a new position in WEC Energy Group in the fourth quarter worth about $26,000. Valued Wealth Advisors LLC bought a new stake in WEC Energy Group during the fourth quarter worth approximately $28,000. Finally, First United Bank & Trust purchased a new stake in WEC Energy Group during the fourth quarter valued at approximately $30,000. 77.20% of the stock is owned by hedge funds and other institutional investors.

WEC Energy Group Price Performance

WEC opened at $83.22 on Friday. The company’s 50-day simple moving average is $80.60 and its two-hundred day simple moving average is $81.44. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.40 and a current ratio of 0.55. The stock has a market capitalization of $26.25 billion, a P/E ratio of 18.17, a P/E/G ratio of 2.86 and a beta of 0.40. WEC Energy Group has a 52-week low of $75.13 and a 52-week high of $96.17.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $1.97 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.07. WEC Energy Group had a net margin of 16.67% and a return on equity of 13.01%. The company had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.92 billion. During the same quarter in the prior year, the firm earned $1.61 earnings per share. The firm’s revenue for the quarter was down 7.2% compared to the same quarter last year. As a group, analysts predict that WEC Energy Group will post 4.87 EPS for the current 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 issued a $0.835 dividend. The ex-dividend date is Monday, May 13th. This represents a $3.34 dividend on an annualized basis and a yield of 4.01%. WEC Energy Group’s dividend payout ratio is presently 72.93%.

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.