WEC Energy Group, Inc. (NYSE:WEC) Receives $120.14 Average Price Target from Analysts

Shares of WEC Energy Group, Inc. (NYSE:WEC) have been given an average recommendation of “Moderate Buy” by the sixteen analysts that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation, five have issued a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $120.2143.

A number of research analysts recently weighed in on the company. BMO Capital Markets upped their price objective on WEC Energy Group from $114.00 to $120.00 and gave the stock a “market perform” rating in a report on Tuesday, October 21st. Royal Bank Of Canada set a $131.00 target price on shares of WEC Energy Group in a research report on Monday. UBS Group upped their price target on shares of WEC Energy Group from $117.00 to $122.00 and gave the stock a “neutral” rating in a research note on Friday, October 10th. Citigroup began coverage on shares of WEC Energy Group in a research note on Friday, October 3rd. They issued a “buy” rating and a $131.00 price objective for the company. Finally, LADENBURG THALM/SH SH raised shares of WEC Energy Group from a “neutral” rating to a “buy” rating in a report on Monday, October 13th.

WEC Energy Group Trading Down 0.8%

NYSE WEC opened at $111.74 on Wednesday. The stock has a market capitalization of $35.97 billion, a P/E ratio of 21.12, a P/E/G ratio of 3.17 and a beta of 0.47. WEC Energy Group has a 52-week low of $91.94 and a 52-week high of $118.18. The firm has a 50-day moving average price of $111.92 and a 200 day moving average price of $108.67. The company has a quick ratio of 0.40, a current ratio of 0.50 and a debt-to-equity ratio of 1.29.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data on Tuesday, September 2nd. The utilities provider reported $1.43 earnings per share for the quarter. WEC Energy Group had a return on equity of 12.60% and a net margin of 17.75%.The company had revenue of $2.28 billion for the quarter. Equities research analysts expect that WEC Energy Group will post 5.23 EPS for the current year.

WEC Energy Group Announces Dividend

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

Insider Transactions at WEC Energy Group

In other WEC Energy Group news, Director Ulice Payne, Jr. sold 1,620 shares of the business’s stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $111.00, for a total transaction of $179,820.00. Following the sale, the director directly owned 20,360 shares in the company, valued at approximately $2,259,960. The trade was a 7.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Daniel Krueger sold 5,930 shares of the company’s stock in a transaction on Monday, August 4th. The shares were sold at an average price of $111.14, for a total value of $659,060.20. Following the completion of the sale, the executive vice president directly owned 6,606 shares in the company, valued at $734,190.84. This trade represents a 47.30% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 22,741 shares of company stock worth $2,523,854. 0.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On WEC Energy Group

Institutional investors and hedge funds have recently made changes to their positions in the business. CVA Family Office LLC increased its holdings 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 valued at $50,000 after acquiring an additional 89 shares in the last quarter. Blossom Wealth Management grew its position in shares of WEC Energy Group by 1.4% in the third quarter. Blossom Wealth Management now owns 6,439 shares of the utilities provider’s stock valued at $738,000 after purchasing an additional 90 shares during the last quarter. Verdence Capital Advisors LLC increased its stake in shares of WEC Energy Group by 1.6% during the 2nd quarter. Verdence Capital Advisors LLC now owns 5,712 shares of the utilities provider’s stock worth $595,000 after purchasing an additional 92 shares in the last quarter. Manchester Capital Management LLC raised its position in shares of WEC Energy Group by 14.3% during the 1st quarter. Manchester Capital Management LLC now owns 744 shares of the utilities provider’s stock worth $81,000 after purchasing an additional 93 shares during the last quarter. Finally, MTM Investment Management LLC lifted its stake in WEC Energy Group by 3.6% in the 2nd quarter. MTM Investment Management LLC now owns 2,720 shares of the utilities provider’s stock valued at $283,000 after buying an additional 95 shares in the last quarter. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

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.