WEC Energy Group (NYSE:WEC) PT Raised to $103.00 at KeyCorp

WEC Energy Group (NYSE:WEC) had its price target boosted by KeyCorp from $98.00 to $103.00 in a report released on Monday, Benzinga reports. The brokerage currently has an overweight rating on the utilities provider’s stock.

Several other brokerages have also weighed in on WEC. Barclays raised their price objective on shares of WEC Energy Group from $80.00 to $86.00 and gave the stock an underweight rating in a report on Tuesday, August 6th. StockNews.com downgraded WEC Energy Group from a hold rating to a sell rating in a research note on Friday, August 9th. Scotiabank upped their price objective on WEC Energy Group from $90.00 to $103.00 and gave the company a sector outperform rating in a research note on Tuesday, August 20th. Bank of America increased their target price on WEC Energy Group from $88.00 to $90.00 and gave the stock an underperform rating in a report on Thursday, August 29th. Finally, Jefferies Financial Group assumed coverage on WEC Energy Group in a report on Thursday, September 19th. They issued a hold rating and a $102.00 price target for the company. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $91.69.

WEC Energy Group Stock Up 0.1 %

Shares of NYSE WEC opened at $96.31 on Monday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.54 and a current ratio of 0.74. WEC Energy Group has a 1 year low of $75.13 and a 1 year high of $97.08. The stock’s 50-day simple moving average is $92.21 and its 200-day simple moving average is $84.83. The firm has a market cap of $30.42 billion, a price-to-earnings ratio of 21.03, a PEG ratio of 2.45 and a beta of 0.44.

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

WEC Energy Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 14th were paid a $0.835 dividend. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $3.34 annualized dividend and a dividend yield of 3.47%. WEC Energy Group’s payout ratio is currently 72.93%.

Insider Activity

In related news, VP William J. Guc sold 6,000 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was 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 other news, VP Mary Beth Straka sold 3,240 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $93.04, for a total value of $301,449.60. Following the completion of the sale, the vice president now directly owns 3,662 shares of the company’s stock, valued at approximately $340,712.48. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP William J. Guc sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $92.99, for a total transaction of $557,940.00. Following the transaction, the vice president now owns 7,702 shares in the company, valued at approximately $716,208.98. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,702 shares of company stock valued at $1,078,058. Insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On WEC Energy Group

Several hedge funds have recently made changes to their positions in WEC. Confluence Investment Management LLC acquired a new position in shares of WEC Energy Group in the 1st quarter valued at $127,945,000. Envestnet Asset Management Inc. boosted its holdings in shares of WEC Energy Group by 93.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,665,038 shares of the utilities provider’s stock worth $140,146,000 after buying an additional 803,718 shares during the period. American Century Companies Inc. increased its position in shares of WEC Energy Group by 36.7% in the second quarter. American Century Companies Inc. now owns 2,566,001 shares of the utilities provider’s stock worth $201,328,000 after acquiring an additional 688,812 shares in the last quarter. Earnest Partners LLC raised its holdings in shares of WEC Energy Group by 36.0% during the first quarter. Earnest Partners LLC now owns 1,748,141 shares of the utilities provider’s stock valued at $143,557,000 after acquiring an additional 462,646 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of WEC Energy Group in the 1st quarter valued at approximately $23,297,000. Institutional investors and hedge funds 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.