Several other brokerages have also issued reports on WEC. Barclays boosted their price target on WEC Energy Group from $71.00 to $73.00 and gave the company a hold rating in a research note on Monday, November 19th. ValuEngine upgraded WEC Energy Group from a hold rating to a buy rating in a research note on Monday, November 12th. Wolfe Research lowered WEC Energy Group from a market perform rating to a sell rating in a research note on Friday, October 26th. Zacks Investment Research upgraded WEC Energy Group from a hold rating to a buy rating and set a $77.00 price target on the stock in a research note on Wednesday, October 17th. Finally, Wells Fargo & Co boosted their price target on WEC Energy Group from $71.00 to $75.00 and gave the company an outperform rating in a research note on Monday, September 17th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $71.36.
WEC Energy Group stock opened at $73.77 on Thursday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.34 and a current ratio of 0.51. The stock has a market capitalization of $23.28 billion, a PE ratio of 23.49, a price-to-earnings-growth ratio of 5.05 and a beta of -0.01. WEC Energy Group has a 52 week low of $58.48 and a 52 week high of $74.44.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Thursday, February 14th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 3.20%. This is an increase from WEC Energy Group’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Wednesday, February 13th. WEC Energy Group’s payout ratio is presently 70.38%.
In other WEC Energy Group news, insider Joseph Kevin Fletcher sold 72,455 shares of WEC Energy Group stock in a transaction that occurred on Tuesday, November 27th. The stock was sold at an average price of $70.65, for a total transaction of $5,118,945.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Gale E. Klappa sold 146,618 shares of WEC Energy Group stock in a transaction that occurred on Tuesday, November 20th. The shares were sold at an average price of $71.68, for a total value of $10,509,578.24. The disclosure for this sale can be found here. Insiders have sold 319,073 shares of company stock worth $22,864,524 over the last ninety days. Company insiders own 0.97% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in WEC. Braun Bostich & Associates Inc. boosted its holdings in shares of WEC Energy Group by 1,300.0% in the 2nd quarter. Braun Bostich & Associates Inc. now owns 1,764 shares of the utilities provider’s stock worth $114,000 after acquiring an additional 1,638 shares in the last quarter. Centaurus Financial Inc. acquired a new position in WEC Energy Group during the 2nd quarter worth $141,000. Bridgeworth LLC acquired a new position in WEC Energy Group during the 2nd quarter worth $156,000. Flagship Harbor Advisors LLC acquired a new position in WEC Energy Group during the 2nd quarter worth $164,000. Finally, Cornerstone Wealth Management LLC acquired a new position in WEC Energy Group during the 2nd quarter worth $200,000. 72.81% of the stock is currently 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 nonregulated renewable energy services in the United States. The company operates through six segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure, and Corporate and Other.
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