BMO Capital Markets Trims WEC Energy Group (NYSE:WEC) Target Price to $87.00

WEC Energy Group (NYSE:WEC) had its price objective cut by BMO Capital Markets from $90.00 to $87.00 in a research note issued to investors on Monday, Benzinga reports. They currently have a market perform rating on the utilities provider’s stock.

Other analysts have also issued research reports about the stock. StockNews.com raised shares of WEC Energy Group from a sell rating to a hold rating in a report on Thursday, May 9th. KeyCorp lifted their target price 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. The Goldman Sachs Group began coverage on WEC Energy Group in a research note on Wednesday, April 10th. They set a neutral rating and a $88.00 price target on the stock. Finally, Scotiabank lowered their price objective on WEC Energy Group from $96.00 to $90.00 and set a sector outperform rating for the company in a research report on Monday, April 22nd. Four analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $86.00.

WEC Energy Group Trading Down 0.3 %

WEC stock opened at $83.32 on Monday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.55 and a quick ratio of 0.42. The stock has a market capitalization of $26.31 billion, a price-to-earnings ratio of 18.19, a P/E/G ratio of 2.11 and a beta of 0.41. The business has a fifty day moving average price of $80.09 and a 200 day moving average price of $80.56. WEC Energy Group has a fifty-two week low of $75.13 and a fifty-two week high of $93.37.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.07. The business had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.92 billion. WEC Energy Group had a net margin of 16.67% and a return on equity of 13.01%. The firm’s quarterly revenue was down 7.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.61 EPS. Analysts expect that WEC Energy Group will post 4.88 EPS for the current fiscal year.

WEC Energy Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 14th will be issued a dividend of $0.835 per share. This represents a $3.34 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date is Wednesday, August 14th. WEC Energy Group’s dividend payout ratio is currently 72.93%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Alta Capital Management LLC lifted its position in WEC Energy Group by 3.0% in the 2nd quarter. Alta Capital Management LLC now owns 33,532 shares of the utilities provider’s stock valued at $2,631,000 after acquiring an additional 967 shares in the last quarter. apricus wealth LLC boosted its position in shares of WEC Energy Group by 29.5% during the second quarter. apricus wealth LLC now owns 19,515 shares of the utilities provider’s stock worth $1,531,000 after buying an additional 4,440 shares during the period. Raymond James Trust N.A. grew its holdings in shares of WEC Energy Group by 6.9% during the second quarter. Raymond James Trust N.A. now owns 12,724 shares of the utilities provider’s stock worth $998,000 after buying an additional 817 shares in the last quarter. Independence Bank of Kentucky raised its position in WEC Energy Group by 26.5% in the 2nd quarter. Independence Bank of Kentucky now owns 956 shares of the utilities provider’s stock valued at $75,000 after buying an additional 200 shares during the last quarter. Finally, Fullcircle Wealth LLC bought a new stake in WEC Energy Group in the 2nd quarter valued at approximately $731,000. 77.20% of the stock is currently owned by institutional investors.

WEC Energy Group Company Profile

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.