WEC Energy Group’s (WEC) Buy (B-) Rating Reiterated at Weiss Ratings

Weiss Ratings reissued their buy (b-) rating on shares of WEC Energy Group (NYSE:WEC) in a research report report published on Friday,Weiss Ratings reports.

Several other research firms also recently issued reports on WEC. Wall Street Zen upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a report on Saturday, October 4th. BMO Capital Markets increased their target price on WEC Energy Group from $114.00 to $120.00 and gave the company a “market perform” rating in a report on Tuesday, October 21st. LADENBURG THALM/SH SH raised WEC Energy Group from a “neutral” rating to a “buy” rating in a research note on Monday, October 13th. BTIG Research upgraded WEC Energy Group to a “strong-buy” rating in a research report on Wednesday, October 22nd. Finally, TD Cowen started coverage on WEC Energy Group in a report on Thursday, October 16th. They issued a “hold” rating and a $125.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, WEC Energy Group presently has an average rating of “Hold” and a consensus target price of $118.83.

WEC Energy Group Trading Down 0.1%

Shares of NYSE:WEC opened at $115.83 on Friday. The company has a 50 day moving average of $111.32 and a 200-day moving average of $108.42. The company has a current ratio of 0.55, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28. The firm has a market cap of $37.28 billion, a P/E ratio of 22.19, a P/E/G ratio of 3.27 and a beta of 0.47. WEC Energy Group has a twelve month low of $91.94 and a twelve month high of $118.18.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Tuesday, September 2nd. The utilities provider reported $1.43 EPS for the quarter. The business had revenue of $2.28 billion for the quarter. WEC Energy Group had a net margin of 17.87% and a return on equity of 12.90%. As a group, analysts anticipate that WEC Energy Group will post 5.23 earnings per share for the current fiscal 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 dividend on an annualized basis and a dividend yield of 3.1%. WEC Energy Group’s dividend payout ratio (DPR) is 68.39%.

Insider Buying and Selling at WEC Energy Group

In related news, EVP Molly A. Mulroy sold 4,030 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $110.33, for a total value of $444,629.90. Following the transaction, the executive vice president owned 5,829 shares in the company, valued at approximately $643,113.57. This represents a 40.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ulice Payne, Jr. sold 1,620 shares of WEC Energy Group stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $111.00, for a total transaction of $179,820.00. Following the completion of the sale, the director owned 20,360 shares of the company’s stock, valued at $2,259,960. This trade represents a 7.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 68,448 shares of company stock worth $7,581,132 over the last quarter. Insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On WEC Energy Group

Hedge funds have recently bought and sold shares of the business. Citizens Financial Group Inc. RI lifted its position in shares of WEC Energy Group by 14.2% in the third quarter. Citizens Financial Group Inc. RI now owns 12,140 shares of the utilities provider’s stock worth $1,391,000 after buying an additional 1,511 shares during the last quarter. Alley Investment Management Company LLC raised its stake in shares of WEC Energy Group by 36.5% in the 3rd quarter. Alley Investment Management Company LLC now owns 59,519 shares of the utilities provider’s stock valued at $6,820,000 after acquiring an additional 15,926 shares in the last quarter. Associated Banc Corp lifted its holdings in WEC Energy Group by 64.0% in the 3rd quarter. Associated Banc Corp now owns 39,328 shares of the utilities provider’s stock worth $4,507,000 after purchasing an additional 15,342 shares during the last quarter. Miller Howard Investments Inc. NY boosted its position in WEC Energy Group by 4.3% during the third quarter. Miller Howard Investments Inc. NY now owns 16,003 shares of the utilities provider’s stock worth $1,834,000 after purchasing an additional 664 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in WEC Energy Group by 1.2% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 44,799 shares of the utilities provider’s stock valued at $5,134,000 after purchasing an additional 510 shares during the last quarter. 77.20% of the stock is owned by institutional investors and hedge funds.

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.