WEC Energy Group Inc. (NYSE:WEC) Receives $58.25 Average Target Price from Analysts
WEC Energy Group Inc. (NYSE:WEC) has been assigned a consensus rating of “Hold” from the ten ratings firms that are presently covering the firm. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $58.25.
A number of research analysts have commented on WEC shares. Zacks Investment Research downgraded WEC Energy Group from a “hold” rating to a “sell” rating in a report on Friday, September 16th. Argus reiterated a “buy” rating and set a $70.00 target price (up previously from $65.00) on shares of WEC Energy Group in a report on Tuesday, August 2nd.
WEC Energy Group (NYSE:WEC) opened at 61.31 on Monday. The firm has a 50-day moving average price of $61.08 and a 200 day moving average price of $61.08. The company has a market capitalization of $19.35 billion, a P/E ratio of 21.89 and a beta of 0.10. WEC Energy Group has a 52-week low of $47.98 and a 52-week high of $66.10.
WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.01. The business earned $1.60 billion during the quarter, compared to analyst estimates of $2.03 billion. WEC Energy Group had a return on equity of 10.52% and a net margin of 12.13%. WEC Energy Group’s quarterly revenue was up 61.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.58 EPS. On average, analysts predict that WEC Energy Group will post $2.93 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Friday, August 12th were paid a $0.495 dividend. The ex-dividend date of this dividend was Wednesday, August 10th. This represents a $1.98 annualized dividend and a dividend yield of 3.23%. WEC Energy Group’s payout ratio is currently 70.46%.
In related news, EVP Robert M. Garvin sold 19,225 shares of the company’s stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $61.62, for a total value of $1,184,644.50. Following the sale, the executive vice president now owns 27,710 shares in the company, valued at approximately $1,707,490.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Susan H. Martin sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $65.05, for a total value of $2,602,000.00. The disclosure for this sale can be found here. 0.81% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the company. Cantab Capital Partners LLP acquired a new position in WEC Energy Group during the second quarter valued at about $108,000. NN Investment Partners Holdings N.V. acquired a new position in WEC Energy Group during the first quarter valued at about $109,000. Financial Architects Inc boosted its position in WEC Energy Group by 240.3% in the second quarter. Financial Architects Inc now owns 2,130 shares of the company’s stock valued at $139,000 after buying an additional 1,504 shares during the period. Farmers National Bank acquired a new position in WEC Energy Group during the second quarter valued at about $144,000. Finally, Evercore Wealth Management LLC boosted its position in WEC Energy Group by 9.9% in the second quarter. Evercore Wealth Management LLC now owns 2,224 shares of the company’s stock valued at $145,000 after buying an additional 200 shares during the period. Institutional investors own 70.65% of the company’s stock.
WEC Energy Group Company Profile
WEC Energy Group, Inc, formerly Wisconsin Energy Corporation, is a holding company, which has electric and natural gas utility operations. The Company’s segments are Wisconsin, Illinois, other states, electric transmission, We Power, and corporate and other. The Company’s Wisconsin segment includes the electric and natural gas utility, and non-utility operations of Wisconsin Electric Power Company (Wisconsin Electric), Wisconsin Gas LLC (Wisconsin Gas) and Wisconsin Public Service Corporation (WPS), including Wisconsin Electric’s electric and WPS’s electric and natural gas operations in the state of Michigan.
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