WEC Energy Group (NYSE:WEC) Price Target Raised to $90.00 at BMO Capital Markets

WEC Energy Group (NYSE:WEC) had its price target boosted by BMO Capital Markets from $89.00 to $90.00 in a research report report published on Thursday, Benzinga reports. They currently have a market perform rating on the utilities provider’s stock.

Several other analysts have also commented on WEC. KeyCorp lifted their price objective on shares of WEC Energy Group from $95.00 to $96.00 and gave the stock an overweight rating in a research report on Friday, April 19th. StockNews.com downgraded WEC Energy Group from a hold rating to a sell rating in a research report on Saturday, January 13th. Bank of America reaffirmed an underperform rating and set a $78.00 price target (down previously from $84.00) on shares of WEC Energy Group in a research report on Thursday, January 4th. Royal Bank of Canada decreased their price objective on WEC Energy Group from $95.00 to $90.00 and set a sector perform rating for the company in a report on Thursday, February 8th. Finally, Wells Fargo & Company dropped their price objective on shares of WEC Energy Group from $93.00 to $91.00 and set an overweight rating on the stock in a report on Friday, February 2nd. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $86.29.

WEC Energy Group Stock Up 0.2 %

WEC traded up $0.14 during mid-day trading on Thursday, reaching $83.22. 1,780,159 shares of the stock were exchanged, compared to its average volume of 1,750,358. WEC Energy Group has a 1 year low of $75.13 and a 1 year high of $96.17. 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 PE ratio of 18.17, a price-to-earnings-growth ratio of 2.88 and a beta of 0.40. The company has a 50 day moving average price of $80.60 and a two-hundred day moving average price of $81.44.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $1.97 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.07. The business had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.92 billion. WEC Energy Group had a net margin of 16.67% and a return on equity of 13.01%. The firm’s revenue for the quarter was down 7.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.61 earnings per share. As a group, research analysts anticipate that WEC Energy Group will post 4.87 EPS for the current year.

WEC Energy Group Announces Dividend

The firm also recently announced 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 4.01%. WEC Energy Group’s payout ratio is presently 72.93%.

Insider Activity at WEC Energy Group

In other news, Chairman Gale E. Klappa sold 37,180 shares of the stock in a transaction on 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other WEC Energy Group news, CEO Scott J. Lauber sold 2,830 shares of the company’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 transaction, the chief executive officer now owns 43,125 shares in the company, valued at approximately $3,402,131.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Gale E. Klappa sold 37,180 shares of the business’s 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 transaction, the chairman now directly owns 274,782 shares of the company’s stock, valued at $21,622,595.58. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On WEC Energy Group

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

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.