WEC Energy Group (NYSE:WEC) Downgraded to “Sell” Rating by Wall Street Zen

WEC Energy Group (NYSE:WEC) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

A number of other analysts have also commented on WEC. JPMorgan Chase & Co. upgraded shares of WEC Energy Group from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $106.00 to $108.00 in a research note on Tuesday, April 8th. Wells Fargo & Company lifted their price objective on shares of WEC Energy Group from $115.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday, May 7th. Scotiabank set a $115.00 price objective on shares of WEC Energy Group and gave the stock an “outperform” rating in a report on Wednesday, May 7th. Finally, Barclays lifted their price objective on shares of WEC Energy Group from $99.00 to $101.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 29th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $107.13.

WEC Energy Group Stock Performance

Shares of WEC stock opened at $104.05 on Friday. The firm has a market capitalization of $33.20 billion, a PE ratio of 20.28, a price-to-earnings-growth ratio of 2.86 and a beta of 0.45. The firm has a fifty day simple moving average of $106.74 and a two-hundred day simple moving average of $103.01. The company has a current ratio of 0.50, a quick ratio of 0.40 and a debt-to-equity ratio of 1.23. WEC Energy Group has a 12 month low of $77.47 and a 12 month high of $111.00.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings results on Tuesday, May 6th. The utilities provider reported $2.27 EPS for the quarter, beating analysts’ consensus estimates of $2.18 by $0.09. The business had revenue of $3.15 billion during the quarter, compared to analyst estimates of $2.81 billion. WEC Energy Group had a net margin of 17.95% and a return on equity of 12.94%. WEC Energy Group’s quarterly revenue was up 17.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.97 EPS. Analysts forecast that WEC Energy Group will post 5.23 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP Joshua M. Erickson sold 2,155 shares of the business’s stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $107.77, for a total value of $232,244.35. Following the transaction, the vice president now directly owns 2,686 shares of the company’s stock, valued at approximately $289,470.22. The trade was a 44.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.50% of the stock is owned by insiders.

Hedge Funds Weigh In On WEC Energy Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Voya Investment Management LLC boosted its holdings in shares of WEC Energy Group by 0.8% in the 1st quarter. Voya Investment Management LLC now owns 94,940 shares of the utilities provider’s stock worth $10,347,000 after buying an additional 779 shares during the last quarter. Howe & Rusling Inc. purchased a new position in shares of WEC Energy Group in the 1st quarter worth about $231,000. Inspire Investing LLC boosted its holdings in shares of WEC Energy Group by 5.1% in the 1st quarter. Inspire Investing LLC now owns 2,894 shares of the utilities provider’s stock worth $315,000 after buying an additional 141 shares during the last quarter. Modern Wealth Management LLC boosted its holdings in shares of WEC Energy Group by 7.4% in the 1st quarter. Modern Wealth Management LLC now owns 6,773 shares of the utilities provider’s stock worth $738,000 after buying an additional 466 shares during the last quarter. Finally, Nova Wealth Management Inc. purchased a new position in shares of WEC Energy Group in the 1st quarter worth about $26,000. 77.20% of the stock is owned by hedge funds and other institutional investors.

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.