WEC Energy Group, Inc. (NYSE:WEC) Receives $85.92 Consensus PT from Analysts

WEC Energy Group, Inc. (NYSE:WEC) has been given a consensus rating of “Hold” by the twelve research firms that are currently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $85.92.

Several equities analysts recently weighed in on WEC shares. KeyCorp lifted their price target on WEC Energy Group from $95.00 to $96.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. BMO Capital Markets boosted their price objective on WEC Energy Group from $89.00 to $90.00 and gave the stock a “market perform” rating in a research note on Thursday, May 2nd. The Goldman Sachs Group assumed coverage on WEC Energy Group in a research note on Wednesday, April 10th. They set a “neutral” rating and a $88.00 price objective for the company. StockNews.com upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a report on Thursday, May 9th. Finally, Scotiabank lowered their target price on WEC Energy Group from $96.00 to $90.00 and set a “sector outperform” rating on the stock in a report on Monday, April 22nd.

WEC Energy Group Stock Performance

Shares of WEC stock opened at $78.23 on Friday. The stock has a market cap of $24.71 billion, a PE ratio of 17.08, a price-to-earnings-growth ratio of 2.05 and a beta of 0.42. The business has a 50-day simple moving average of $81.53 and a 200-day simple moving average of $81.28. The company has a quick ratio of 0.42, a current ratio of 0.55 and a debt-to-equity ratio of 1.24. WEC Energy Group has a 52-week low of $75.13 and a 52-week high of $93.37.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.07. The business had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.92 billion. WEC Energy Group had a return on equity of 13.01% and a net margin of 16.67%. The company’s revenue for the quarter was down 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.61 EPS. On average, equities analysts expect that WEC Energy Group will post 4.87 EPS for the current year.

WEC Energy Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Tuesday, May 14th were given a dividend of $0.835 per share. This represents a $3.34 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date was Monday, May 13th. WEC Energy Group’s dividend payout ratio is currently 72.93%.

Institutional Trading of WEC Energy Group

A number of large investors have recently modified their holdings of WEC. Kestra Advisory Services LLC grew its holdings in shares of WEC Energy Group by 1.6% during the third quarter. Kestra Advisory Services LLC now owns 29,461 shares of the utilities provider’s stock worth $2,373,000 after purchasing an additional 456 shares during the last quarter. Rafferty Asset Management LLC increased its stake in shares of WEC Energy Group by 11.8% during the 3rd quarter. Rafferty Asset Management LLC now owns 32,147 shares of the utilities provider’s stock worth $2,589,000 after purchasing an additional 3,385 shares in the last quarter. Korea Investment CORP increased its stake in shares of WEC Energy Group by 36.7% during the 3rd quarter. Korea Investment CORP now owns 393,252 shares of the utilities provider’s stock worth $31,676,000 after purchasing an additional 105,636 shares in the last quarter. QRG Capital Management Inc. purchased a new position in shares of WEC Energy Group during the 3rd quarter worth approximately $615,000. Finally, Envestnet Portfolio Solutions Inc. purchased a new stake in WEC Energy Group in the 3rd quarter worth approximately $945,000. Hedge funds and other institutional investors own 77.20% of the company’s stock.

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.