WEC Energy Group Inc (NYSE:WEC) has earned an average recommendation of “Hold” from the fourteen research firms that are presently covering the firm, MarketBeat reports. Ten equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $68.33.
A number of research analysts have recently commented on the stock. ValuEngine raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Wednesday, June 20th. Zacks Investment Research downgraded shares of WEC Energy Group from a “buy” rating to a “hold” rating in a research report on Wednesday, June 20th. Barclays assumed coverage on shares of WEC Energy Group in a research report on Tuesday, July 10th. They issued an “equal weight” rating and a $71.00 price objective for the company. Citigroup lifted their price objective on shares of WEC Energy Group from $61.00 to $63.00 and gave the company a “hold” rating in a research report on Tuesday, July 10th. Finally, Scotia Howard Weill began coverage on shares of WEC Energy Group in a research report on Tuesday, September 4th. They issued a “sector outperform” rating and a $72.00 price objective for the company.
In related news, insider Frederick D. Kuester sold 168,790 shares of WEC Energy Group stock in a transaction dated Thursday, August 9th. The shares were sold at an average price of $66.94, for a total transaction of $11,298,802.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Barbara L. Bowles sold 2,500 shares of WEC Energy Group stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $66.45, for a total transaction of $166,125.00. The disclosure for this sale can be found here. Insiders own 0.97% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Eaton Vance Management raised its stake in WEC Energy Group by 30.9% in the 1st quarter. Eaton Vance Management now owns 15,831 shares of the utilities provider’s stock worth $993,000 after purchasing an additional 3,739 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in WEC Energy Group by 5.8% in the 1st quarter. Thrivent Financial for Lutherans now owns 15,236 shares of the utilities provider’s stock worth $955,000 after purchasing an additional 842 shares in the last quarter. Signaturefd LLC acquired a new stake in WEC Energy Group in the 1st quarter worth about $166,000. Korea Investment CORP raised its stake in WEC Energy Group by 12.0% in the 1st quarter. Korea Investment CORP now owns 196,885 shares of the utilities provider’s stock worth $12,345,000 after purchasing an additional 21,056 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its stake in WEC Energy Group by 5.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 45,016 shares of the utilities provider’s stock worth $2,822,000 after purchasing an additional 2,294 shares in the last quarter. 73.21% of the stock is owned by institutional investors and hedge funds.
Shares of WEC traded down $0.25 during midday trading on Friday, reaching $68.80. The stock had a trading volume of 1,315,838 shares, compared to its average volume of 1,537,207. WEC Energy Group has a one year low of $58.48 and a one year high of $70.09. The company has a market cap of $21.68 billion and a PE ratio of 21.91. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.59 and a quick ratio of 0.44.
WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data on Tuesday, July 31st. The utilities provider reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.06. WEC Energy Group had a net margin of 16.56% and a return on equity of 11.18%. The company had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter last year, the firm posted $0.63 EPS. The company’s quarterly revenue was up 2.5% on a year-over-year basis. analysts expect that WEC Energy Group will post 3.32 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Saturday, September 1st. Investors of record on Tuesday, August 14th were issued a dividend of $0.5525 per share. This represents a $2.21 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend was Monday, August 13th. WEC Energy Group’s payout ratio is 70.38%.
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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