Analysts Set WEC Energy Group, Inc. (WEC) PT at $62.50
WEC Energy Group, Inc. (NYSE:WEC) has been assigned an average rating of “Hold” from the ten brokerages that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $62.50.
A number of research analysts have weighed in on the stock. BidaskClub downgraded shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Ladenburg Thalmann Financial Services upped their price target on shares of WEC Energy Group from $62.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday, June 9th. Wolfe Research restated a “peer perform” rating on shares of WEC Energy Group in a research report on Monday, April 24th. Barclays PLC restated an “equal weight” rating and set a $68.00 price target (up previously from $61.00) on shares of WEC Energy Group in a research report on Sunday, April 23rd. Finally, Zacks Investment Research downgraded shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Monday, April 17th.
Shares of WEC Energy Group (WEC) traded up 0.66% during midday trading on Friday, reaching $64.47. The company’s stock had a trading volume of 1,101,025 shares. The firm has a market capitalization of $20.35 billion, a P/E ratio of 21.14 and a beta of 0.11. The stock has a 50-day moving average of $62.56 and a 200 day moving average of $61.11. WEC Energy Group has a 12-month low of $53.66 and a 12-month high of $64.94.
WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data on Wednesday, July 26th. The utilities provider reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. The business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.58 billion. WEC Energy Group had a net margin of 12.72% and a return on equity of 10.75%. The company’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.57 earnings per share. Equities research analysts predict that WEC Energy Group will post $3.11 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Monday, August 14th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, August 10th. This represents a $2.08 annualized dividend and a dividend yield of 3.23%. WEC Energy Group’s dividend payout ratio (DPR) is presently 68.42%.
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In related news, VP Susan H. Martin sold 15,470 shares of the company’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $62.50, for a total transaction of $966,875.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.97% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the stock. Oakworth Capital Inc. boosted its stake in shares of WEC Energy Group by 8.8% in the second quarter. Oakworth Capital Inc. now owns 1,632 shares of the utilities provider’s stock valued at $100,000 after buying an additional 132 shares in the last quarter. Trust Co. of Vermont boosted its stake in shares of WEC Energy Group by 12.1% in the first quarter. Trust Co. of Vermont now owns 1,737 shares of the utilities provider’s stock valued at $106,000 after buying an additional 187 shares in the last quarter. Delphi Private Advisors LLC boosted its stake in shares of WEC Energy Group by 182.3% in the second quarter. Delphi Private Advisors LLC now owns 1,976 shares of the utilities provider’s stock valued at $120,000 after buying an additional 1,276 shares in the last quarter. Country Trust Bank boosted its stake in shares of WEC Energy Group by 5.7% in the second quarter. Country Trust Bank now owns 2,066 shares of the utilities provider’s stock valued at $127,000 after buying an additional 112 shares in the last quarter. Finally, Captrust Financial Advisors acquired a new stake in shares of WEC Energy Group during the second quarter valued at about $132,000. 70.78% of the stock is owned by institutional investors.
WEC Energy Group Company Profile
WEC Energy Group, Inc was a diversified holding company with natural gas and electric utility operations, an approximately 60% equity ownership interest in American Transmission Company LLC, and non-utility electric operations through its We Power business, as of December 31, 2016. Its segments include Wisconsin; Illinois; Other States; Electric Transmission; We Power, and Corporate and Other.
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