Wisconsin Energy Corp Downgraded by Zacks to Neutral (WEC)
Wisconsin Energy Corp (NYSE:WEC) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a research note issued on Tuesday. They currently have a $48.00 price objective on the stock. Zacks‘s target price would indicate a potential upside of 6.03% from the company’s current price.
Zacks’ analyst wrote, “We have downgraded our recommendation on Wisconsin Energy Corporation to Neutral from Outperform, primarily due to stringent environment regulations, possibilities of a delay or cancellation in distribution and generation projects, fuel price volatility and several operational risks. The U.S. Environmental Protection Agency recently proposed new regulations to curb carbon emission from the existing plants during power generation. Coal still dominates a major portion of the company’s power generation mix. If the proposed regulations are implemented, Wisconsin Energy could experience increasing operating costs as a result of installing more pollution control measures. This will subsequently impact Wisconsin Energy’s future margins. However, a stable financial position, disciplined capital spending program and steady addition of new customers are expected to boost Wisconsin Energy’s future performance.”
Wisconsin Energy Corp (NYSE:WEC) traded up 1.77% on Tuesday, hitting $46.07. 3,166,626 shares of the company’s stock traded hands. Wisconsin Energy Corp has a 52 week low of $39.11 and a 52 week high of $49.21. The stock has a 50-day moving average of $45. and a 200-day moving average of $44.26. The company has a market cap of $10.390 billion and a price-to-earnings ratio of 17.04.
Wisconsin Energy Corp (NYSE:WEC) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.08. The company had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the previous year, the company posted $0.76 earnings per share. The company’s revenue for the quarter was up 32.9% on a year-over-year basis. Analysts expect that Wisconsin Energy Corp will post $2.62 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at ISI Group upgraded shares of Wisconsin Energy Corp from a “cautious” rating to a “neutral” rating in a research note on Tuesday. They now have a $45.50 price target on the stock, up previously from $45.00. Separately, analysts at CRT Capital cut their price target on shares of Wisconsin Energy Corp from $48.00 to $44.00 in a research note on Tuesday. They now have a “fair value” rating on the stock. Finally, analysts at Wells Fargo & Co. upgraded shares of Wisconsin Energy Corp from a “market perform” rating to an “outperform” rating in a research note on Tuesday. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $46.19.
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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