WEC Energy Group Inc. (WEC) Stock Rating Reaffirmed by KeyCorp
WEC Energy Group Inc. (NYSE:WEC)‘s stock had its “hold” rating restated by equities research analysts at KeyCorp in a research report issued on Wednesday.
A number of other analysts also recently issued reports on the company. Zacks Investment Research raised WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Friday, September 23rd. Argus reissued a “buy” rating and set a $70.00 price target (up previously from $65.00) on shares of WEC Energy Group in a research report on Tuesday, August 2nd. Finally, Guggenheim initiated coverage on WEC Energy Group in a research report on Thursday, November 3rd. They set a “buy” rating and a $63.00 price target on the stock. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $59.40.
WEC Energy Group (NYSE:WEC) opened at 55.45 on Wednesday. The stock has a 50 day moving average price of $58.63 and a 200-day moving average price of $60.89. WEC Energy Group has a one year low of $47.98 and a one year high of $66.10. The firm has a market capitalization of $17.50 billion, a PE ratio of 19.03 and a beta of 0.06.
WEC Energy Group (NYSE:WEC) last released its earnings results on Wednesday, October 26th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.08. The business had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $2.15 billion. WEC Energy Group had a return on equity of 10.76% and a net margin of 12.58%. WEC Energy Group’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.61 earnings per share. On average, equities analysts forecast that WEC Energy Group will post $2.94 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Monday, November 14th will be paid a $0.495 dividend. This represents a $1.98 annualized dividend and a dividend yield of 3.57%. The ex-dividend date of this dividend is Wednesday, November 9th. WEC Energy Group’s dividend payout ratio (DPR) is currently 68.04%.
In related news, EVP Robert M. Garvin sold 19,225 shares of the business’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 completion of the sale, the executive vice president now directly owns 27,710 shares in the company, valued at $1,707,490.20. The sale was disclosed in a filing with the SEC, which is available at this link. 0.81% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the stock. Cantab Capital Partners LLP bought a new stake in shares of WEC Energy Group during the second quarter valued at about $108,000. Country Trust Bank boosted its stake in shares of WEC Energy Group by 6.9% in the third quarter. Country Trust Bank now owns 2,036 shares of the company’s stock valued at $122,000 after buying an additional 132 shares during the period. Washington Trust Bank boosted its stake in shares of WEC Energy Group by 73.6% in the third quarter. Washington Trust Bank now owns 2,135 shares of the company’s stock valued at $128,000 after buying an additional 905 shares during the period. Financial Architects Inc boosted its stake in shares of 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. Finally, Farmers National Bank bought a new stake in shares of WEC Energy Group during the second quarter valued at about $144,000. Institutional investors and hedge funds own 70.67% 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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