WEC Energy Group, Inc. (NYSE:WEC) Given Average Recommendation of “Hold” by Analysts

Shares of WEC Energy Group, Inc. (NYSE:WEC) have received an average rating of “Hold” from the fifteen research firms that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $120.9231.

A number of research analysts have recently issued reports on the stock. Citigroup started coverage on shares of WEC Energy Group in a research report on Friday, October 3rd. They issued a “buy” rating and a $131.00 price target on the stock. Cowen initiated coverage on WEC Energy Group in a research note on Wednesday, October 15th. They set a “hold” rating for the company. BMO Capital Markets increased their target price on WEC Energy Group from $114.00 to $120.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 21st. Royal Bank Of Canada set a $131.00 price target on shares of WEC Energy Group in a report on Monday, October 27th. Finally, Barclays dropped their price objective on shares of WEC Energy Group from $110.00 to $105.00 and set an “underweight” rating on the stock in a report on Tuesday.

WEC Energy Group Price Performance

Shares of WEC opened at $104.76 on Thursday. WEC Energy Group has a 52 week low of $91.94 and a 52 week high of $118.18. The company has a current ratio of 0.50, a quick ratio of 0.33 and a debt-to-equity ratio of 1.29. The firm has a market cap of $34.08 billion, a price-to-earnings ratio of 19.80, a PEG ratio of 2.64 and a beta of 0.56. The stock has a 50 day moving average of $111.37 and a 200-day moving average of $109.10.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings results on Tuesday, September 2nd. The utilities provider reported $1.43 earnings per share (EPS) for the quarter. The business had revenue of $2.28 billion for the quarter. WEC Energy Group had a return on equity of 12.60% and a net margin of 17.75%. As a group, analysts forecast that WEC Energy Group will post 5.23 EPS for the current year.

WEC Energy Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Friday, February 13th will be paid a $0.9525 dividend. The ex-dividend date is Friday, February 13th. This is an increase from WEC Energy Group’s previous quarterly dividend of $0.89. This represents a $3.81 annualized dividend and a dividend yield of 3.6%. WEC Energy Group’s dividend payout ratio (DPR) is 67.49%.

Hedge Funds Weigh In On WEC Energy Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. AlphaCore Capital LLC boosted its stake in WEC Energy Group by 32.3% during the 2nd quarter. AlphaCore Capital LLC now owns 10,333 shares of the utilities provider’s stock valued at $1,077,000 after purchasing an additional 2,525 shares in the last quarter. Richmond Investment Services LLC raised its stake in shares of WEC Energy Group by 92.8% in the 2nd quarter. Richmond Investment Services LLC now owns 11,773 shares of the utilities provider’s stock worth $1,227,000 after buying an additional 5,666 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of WEC Energy Group by 6.7% in the second quarter. Legal & General Group Plc now owns 2,609,802 shares of the utilities provider’s stock valued at $271,941,000 after buying an additional 162,963 shares during the period. Caldwell Trust Co bought a new position in WEC Energy Group during the second quarter valued at about $1,823,000. Finally, Greenland Capital Management LP bought a new position in WEC Energy Group during the second quarter valued at about $13,317,000. 77.20% of the stock is owned by institutional investors.

About WEC Energy Group

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and renewable and nonregulated renewable energy services in the United States. It operates through Wisconsin, Illinois, Other States, Electric Transmission, and Non-Utility Energy Infrastructure segments.