WEC Energy Group, Inc. (WEC) Receives Average Rating of “Hold” from Analysts
WEC Energy Group, Inc. (NYSE:WEC) has earned a consensus rating of “Hold” from the ten analysts that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $62.50.
A number of analysts recently issued reports on the stock. BidaskClub downgraded shares of WEC Energy Group from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Ladenburg Thalmann Financial Services increased their price target on shares of WEC Energy Group from $62.00 to $65.00 and gave the stock a “neutral” rating in a report on Friday, June 9th. Wolfe Research reissued a “peer perform” rating on shares of WEC Energy Group in a report on Monday, April 24th. Barclays PLC reissued an “equal weight” rating and set a $68.00 price target (up from $61.00) on shares of WEC Energy Group in a report on Sunday, April 23rd. Finally, Zacks Investment Research raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a report on Thursday, June 22nd.
In other WEC Energy Group news, VP Susan H. Martin sold 15,470 shares of the stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $62.50, for a total transaction of $966,875.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.97% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in WEC Energy Group by 2.5% in the second quarter. Vanguard Group Inc. now owns 32,962,447 shares of the utilities provider’s stock valued at $2,023,235,000 after buying an additional 795,189 shares during the last quarter. BlackRock Inc. increased its position in WEC Energy Group by 0.3% in the second quarter. BlackRock Inc. now owns 25,921,375 shares of the utilities provider’s stock valued at $1,591,055,000 after buying an additional 82,376 shares during the last quarter. State Street Corp increased its position in WEC Energy Group by 1.2% in the first quarter. State Street Corp now owns 16,286,113 shares of the utilities provider’s stock valued at $987,428,000 after buying an additional 200,586 shares during the last quarter. Epoch Investment Partners Inc. increased its position in WEC Energy Group by 8.6% in the second quarter. Epoch Investment Partners Inc. now owns 6,212,698 shares of the utilities provider’s stock valued at $381,336,000 after buying an additional 492,379 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in WEC Energy Group by 1.8% in the second quarter. JPMorgan Chase & Co. now owns 5,762,776 shares of the utilities provider’s stock valued at $353,718,000 after buying an additional 103,009 shares during the last quarter. 70.72% of the stock is currently owned by institutional investors and hedge funds.
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WEC Energy Group (WEC) opened at 63.84 on Friday. The stock has a market cap of $20.15 billion, a PE ratio of 20.93 and a beta of 0.11. The company’s 50 day moving average is $62.52 and its 200-day moving average is $60.98. WEC Energy Group has a 1-year low of $53.66 and a 1-year high of $64.94.
WEC Energy Group (NYSE:WEC) last announced its quarterly earnings results on Wednesday, July 26th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.05. WEC Energy Group had a net margin of 12.72% and a return on equity of 10.75%. The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the prior year, the firm posted $0.57 earnings per share. The firm’s quarterly revenue was up 1.8% compared to the same quarter last year. Equities research analysts forecast that WEC Energy Group will post $3.11 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Monday, August 14th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 3.26%. The ex-dividend date is Thursday, August 10th. WEC Energy Group’s payout ratio is 68.42%.
About WEC Energy Group
WEC Energy Group, Inc was a diversified holding company with natural gas and electric utility operations, an approximately 60% equity ownership interest in American Transmission Company LLC, and non-utility electric operations through its We Power business, as of December 31, 2016. Its segments include Wisconsin; Illinois; Other States; Electric Transmission; We Power, and Corporate and Other.
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