Wisconsin Energy Corp. Rating Reiterated by Zacks (WEC)
Wisconsin Energy Corp. (NYSE:WEC)‘s stock had its “neutral” rating reaffirmed by Zacks in a report released on Monday, Stock Ratings Network reports. They currently have a $42.00 price target on the stock. Zacks‘ target price would suggest a potential upside of 4.19% from the stock’s previous close.
Zacks‘ analyst wrote, “Wisconsin Energy Corporation’s second-quarter 2013 earnings per share and revenues surpassed the Zacks Consensus Estimates as well as the year- ago results. The improvement in top- and bottom-line was primarily driven by higher demand of natural gas during a cooler-than-normal spring season and positive impacts from the share repurchase program. In the reported quarter, the company served more electricity and natural gas customers than a year-ago level. In addition, the steady progress in several internal projects would add to the company’s future profitability. However, stringent utility regulations and volatile commodity prices could offset the positives. Considering these factors, we maintain our Neutral recommendation on the stock.”
A number of other analysts have also recently weighed in on WEC. Analysts at Atlantic Securities upgraded shares of Wisconsin Energy Corp. (NYSE:WEC) from a “neutral” rating to an “overweight” rating in a research note to investors on Thursday, July 11th. They now have a $46.00 price target on the stock, up previously from $42.00. Separately, analysts at BMO Capital Markets reiterated a “market perform” rating on shares of Wisconsin Energy Corp. (NYSE:WEC) in a research note to investors on Thursday, July 4th. They now have a $46.00 price target on the stock. Finally, analysts at BMO Capital Markets reiterated a “market perform” rating on shares of Wisconsin Energy Corp. (NYSE:WEC) in a research note to investors on Thursday, July 4th. They now have a $46.00 price target on the stock. Eleven research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $44.67.
Shares of Wisconsin Energy Corp. (NYSE:WEC) traded down 0.69% during mid-day trading on Monday, hitting $40.03. 539,245 shares of the company’s stock traded hands. Wisconsin Energy Corp. has a one year low of $36.01 and a one year high of $45.00. The stock has a 50-day moving average of $40.84 and a 200-day moving average of $41.99. The company has a market cap of $9.113 billion and a P/E ratio of 16.94.
Wisconsin Energy Corp. (NYSE:WEC) last released its earnings data on Wednesday, July 31st. The company reported $0.52 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.46 by $0.06. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $958.21 million. During the same quarter in the prior year, the company posted $0.51 earnings per share. The company’s quarterly revenue was up 7.2% on a year-over-year basis. On average, analysts predict that Wisconsin Energy Corp. will post $2.45 earnings per share for the current fiscal year.
Wisconsin Energy Corporation is a diversified holding company. The Company operates primarily through two segments: a utility energy segment and a non-utility energy segment.
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