WEC Energy Group (NYSE:WEC) had its target price decreased by Wells Fargo & Co from $73.00 to $71.00 in a note issued to investors on Thursday. The brokerage currently has a “market perform” rating on the utilities provider’s stock. Wells Fargo & Co’s price objective points to a potential upside of 13.42% from the stock’s previous close.
Other equities analysts also recently issued reports about the company. Credit Suisse Group began coverage on WEC Energy Group in a research report on Thursday, December 7th. They set a “neutral” rating and a $70.00 target price on the stock. Zacks Investment Research upgraded WEC Energy Group from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a research report on Saturday, January 6th. Bank of America began coverage on WEC Energy Group in a research report on Tuesday, October 24th. They set a “neutral” rating and a $67.00 target price on the stock. KeyCorp reiterated a “hold” rating on shares of WEC Energy Group in a research report on Friday, October 20th. Finally, Guggenheim reiterated a “buy” rating and set a $73.00 target price on shares of WEC Energy Group in a research report on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $66.80.
WEC Energy Group (NYSE WEC) traded down $1.69 during midday trading on Thursday, reaching $62.60. The company had a trading volume of 4,070,000 shares, compared to its average volume of 1,710,000. WEC Energy Group has a 1 year low of $56.05 and a 1 year high of $70.09. The stock has a market capitalization of $19,760.00, a P/E ratio of 16.52, a PEG ratio of 3.53 and a beta of 0.15. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.60 and a quick ratio of 0.38.
In other news, VP Scott J. Lauber sold 1,240 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $70.00, for a total value of $86,800.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Gale E. Klappa sold 52,722 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $69.40, for a total value of $3,658,906.80. The disclosure for this sale can be found here. Company insiders own 0.97% of the company’s stock.
Several hedge funds have recently bought and sold shares of WEC. Wells Fargo & Company MN grew its stake in shares of WEC Energy Group by 36.6% in the third quarter. Wells Fargo & Company MN now owns 7,366,777 shares of the utilities provider’s stock valued at $462,486,000 after buying an additional 1,972,929 shares in the last quarter. APG Asset Management N.V. grew its stake in shares of WEC Energy Group by 170.9% in the fourth quarter. APG Asset Management N.V. now owns 2,403,530 shares of the utilities provider’s stock valued at $132,967,000 after buying an additional 1,516,384 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of WEC Energy Group by 2,687.2% in the second quarter. Janus Henderson Group PLC now owns 1,200,291 shares of the utilities provider’s stock valued at $73,674,000 after buying an additional 1,157,227 shares in the last quarter. Ameriprise Financial Inc. grew its stake in WEC Energy Group by 28.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,849,244 shares of the utilities provider’s stock valued at $178,873,000 after purchasing an additional 638,010 shares in the last quarter. Finally, FMR LLC grew its stake in WEC Energy Group by 189.3% during the 2nd quarter. FMR LLC now owns 536,408 shares of the utilities provider’s stock valued at $32,925,000 after purchasing an additional 351,003 shares in the last quarter. Institutional investors and hedge funds own 72.61% of the company’s stock.
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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.
