WEC Energy Group Inc (NYSE:WEC) Receives Average Recommendation of “Hold” from Brokerages

Shares of WEC Energy Group Inc (NYSE:WEC) have been assigned a consensus rating of “Hold” from the fifteen brokerages that are covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $86.17.

Several analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of WEC Energy Group from a “hold” rating to a “buy” rating and set a $97.00 price objective on the stock in a research report on Monday, September 16th. Citigroup raised their price objective on shares of WEC Energy Group from $85.00 to $93.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. assumed coverage on shares of WEC Energy Group in a research report on Tuesday, October 8th. They set a “neutral” rating and a $99.00 price objective on the stock. Guggenheim cut shares of WEC Energy Group from a “buy” rating to a “neutral” rating in a research report on Wednesday, September 4th. They noted that the move was a valuation call. Finally, UBS Group raised their price objective on shares of WEC Energy Group from $87.00 to $94.00 and gave the company a “neutral” rating in a research report on Friday, September 6th.

Shares of WEC stock opened at $88.12 on Friday. The company has a 50 day moving average of $93.02 and a 200-day moving average of $87.85. The company has a quick ratio of 0.42, a current ratio of 0.63 and a debt-to-equity ratio of 1.07. WEC Energy Group has a 12-month low of $66.75 and a 12-month high of $98.19. The firm has a market cap of $27.50 billion, a P/E ratio of 26.38, a PEG ratio of 4.02 and a beta of -0.01.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.03. The company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.68 billion. WEC Energy Group had a net margin of 14.32% and a return on equity of 10.91%. WEC Energy Group’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.74 EPS. As a group, equities analysts expect that WEC Energy Group will post 3.53 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Thursday, November 14th will be given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date is Wednesday, November 13th. WEC Energy Group’s payout ratio is presently 70.66%.

In other WEC Energy Group news, VP Mary Beth Straka sold 3,500 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $97.69, for a total value of $341,915.00. Following the transaction, the vice president now owns 5,252 shares in the company, valued at $513,067.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Joseph Kevin Fletcher sold 27,105 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $95.69, for a total transaction of $2,593,677.45. Following the completion of the transaction, the chief executive officer now owns 25,240 shares in the company, valued at approximately $2,415,215.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 156,615 shares of company stock worth $15,073,993. 0.75% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the business. Cox Capital Mgt LLC boosted its stake in shares of WEC Energy Group by 2.5% during the 2nd quarter. Cox Capital Mgt LLC now owns 5,693 shares of the utilities provider’s stock valued at $475,000 after purchasing an additional 140 shares in the last quarter. Dorsey Wright & Associates bought a new stake in shares of WEC Energy Group during the 2nd quarter valued at about $323,000. WINTON GROUP Ltd boosted its stake in shares of WEC Energy Group by 56.1% during the 2nd quarter. WINTON GROUP Ltd now owns 9,004 shares of the utilities provider’s stock valued at $751,000 after purchasing an additional 3,237 shares in the last quarter. Carroll Financial Associates Inc. boosted its stake in shares of WEC Energy Group by 5.6% during the 2nd quarter. Carroll Financial Associates Inc. now owns 2,345 shares of the utilities provider’s stock valued at $195,000 after purchasing an additional 125 shares in the last quarter. Finally, Calton & Associates Inc. boosted its stake in shares of WEC Energy Group by 11.9% during the 2nd quarter. Calton & Associates Inc. now owns 2,886 shares of the utilities provider’s stock valued at $241,000 after purchasing an additional 306 shares in the last quarter. Hedge funds and other institutional investors own 76.83% of the company’s stock.

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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Analyst Recommendations for WEC Energy Group (NYSE:WEC)

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