WEC Energy Group, Inc. (NYSE:WEC) Receives Average Recommendation of “Hold” from Brokerages

Shares of WEC Energy Group, Inc. (NYSE:WEC) have been given a consensus recommendation of “Hold” by the twelve brokerages that are covering the company, MarketBeat.com reports. Three 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 target price among brokers that have updated their coverage on the stock in the last year is $91.69.

WEC has been the topic of a number of recent research reports. StockNews.com cut WEC Energy Group from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Wells Fargo & Company increased their price objective on shares of WEC Energy Group from $98.00 to $103.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Barclays lifted their target price on shares of WEC Energy Group from $80.00 to $86.00 and gave the company an “underweight” rating in a research note on Tuesday, August 6th. Bank of America increased their price target on WEC Energy Group from $88.00 to $90.00 and gave the stock an “underperform” rating in a research note on Thursday, August 29th. Finally, Jefferies Financial Group started coverage on WEC Energy Group in a research report on Thursday, September 19th. They issued a “hold” rating and a $102.00 price objective on the stock.

WEC Energy Group Stock Performance

Shares of WEC opened at $96.18 on Tuesday. The firm has a market capitalization of $30.40 billion, a P/E ratio of 21.00, a PEG ratio of 2.45 and a beta of 0.44. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.74 and a quick ratio of 0.54. WEC Energy Group has a one year low of $75.13 and a one year high of $96.65. The business has a fifty day moving average of $91.40 and a 200 day moving average of $84.55.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.04. The firm had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.87 billion. WEC Energy Group had a net margin of 15.85% and a return on equity of 12.26%. The business’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.92 EPS. As a group, sell-side analysts anticipate that WEC Energy Group will post 4.87 EPS for the current year.

WEC Energy Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 14th were issued a $0.835 dividend. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date was Wednesday, August 14th. WEC Energy Group’s dividend payout ratio (DPR) is presently 72.93%.

Insider Activity at WEC Energy Group

In other WEC Energy Group news, VP William J. Guc sold 6,000 shares of WEC Energy Group stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $92.99, for a total value of $557,940.00. Following the completion of the transaction, the vice president now directly owns 7,702 shares of the company’s stock, valued at approximately $716,208.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Mary Beth Straka sold 3,240 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $93.04, for a total transaction of $301,449.60. Following the sale, the vice president now owns 3,662 shares in the company, valued at approximately $340,712.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP William J. Guc sold 6,000 shares of WEC Energy Group stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $92.99, for a total transaction of $557,940.00. Following the transaction, the vice president now directly owns 7,702 shares of the company’s stock, valued at $716,208.98. The disclosure for this sale can be found here. Insiders have sold a total of 11,702 shares of company stock valued at $1,078,058 over the last 90 days. 0.34% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On WEC Energy Group

Institutional investors have recently made changes to their positions in the company. Sanctuary Advisors LLC purchased a new stake in WEC Energy Group in the 2nd quarter worth about $6,445,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of WEC Energy Group in the second quarter worth approximately $38,000. Clearbridge Investments LLC lifted its stake in shares of WEC Energy Group by 1.7% during the 2nd quarter. Clearbridge Investments LLC now owns 1,355,909 shares of the utilities provider’s stock worth $106,385,000 after acquiring an additional 22,026 shares during the last quarter. New Century Financial Group LLC bought a new stake in shares of WEC Energy Group during the 2nd quarter worth approximately $231,000. Finally, Cetera Investment Advisers boosted its holdings in WEC Energy Group by 4.2% during the 2nd quarter. Cetera Investment Advisers now owns 119,951 shares of the utilities provider’s stock valued at $9,411,000 after acquiring an additional 4,835 shares during the period. Institutional investors own 77.20% of the company’s stock.

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.