WEC Energy Group (NYSE:WEC) Price Target Raised to $96.00

WEC Energy Group (NYSE:WEC) had its price objective increased by stock analysts at KeyCorp from $95.00 to $96.00 in a report issued on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the utilities provider’s stock. KeyCorp’s target price would suggest a potential upside of 19.34% from the company’s previous close.

Several other brokerages have also commented on WEC. Barclays dropped their price target on shares of WEC Energy Group from $79.00 to $75.00 and set an “underweight” rating on the stock in a research note on Thursday, February 8th. Wells Fargo & Company dropped their price target on shares of WEC Energy Group from $93.00 to $91.00 and set an “overweight” rating on the stock in a research note on Friday, February 2nd. JPMorgan Chase & Co. lowered shares of WEC Energy Group from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $90.00 to $84.00 in a research note on Friday, February 2nd. The Goldman Sachs Group assumed coverage on shares of WEC Energy Group in a research note on Wednesday, April 10th. They set a “neutral” rating and a $88.00 price target on the stock. Finally, StockNews.com lowered shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Saturday, January 13th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $86.38.

WEC Energy Group Stock Up 1.0 %

WEC Energy Group stock opened at $80.44 on Friday. The firm has a market cap of $25.37 billion, a PE ratio of 19.06, a P/E/G ratio of 2.77 and a beta of 0.40. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.40 and a current ratio of 0.55. The firm’s 50 day moving average price is $79.70 and its two-hundred day moving average price is $81.31. WEC Energy Group has a twelve month low of $75.13 and a twelve month high of $98.80.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Thursday, February 1st. The utilities provider reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.02. The firm had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.82 billion. WEC Energy Group had a net margin of 14.98% and a return on equity of 12.17%. The company’s revenue for the quarter was down 13.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.80 EPS. On average, research analysts predict that WEC Energy Group will post 4.88 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Scott J. Lauber sold 2,830 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $78.89, for a total transaction of $223,258.70. Following the completion of the sale, the chief executive officer now owns 43,125 shares in the company, valued at approximately $3,402,131.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Chairman Gale E. Klappa sold 37,180 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $78.69, for a total transaction of $2,925,694.20. Following the completion of the sale, the chairman now owns 274,782 shares in the company, valued at approximately $21,622,595.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Scott J. Lauber sold 2,830 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $78.89, for a total transaction of $223,258.70. Following the sale, the chief executive officer now owns 43,125 shares of the company’s stock, valued at approximately $3,402,131.25. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On WEC Energy Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quilter Plc acquired a new stake in WEC Energy Group in the 1st quarter valued at about $234,348,000. Achmea Investment Management B.V. acquired a new stake in WEC Energy Group in the 1st quarter valued at about $27,000. Opal Wealth Advisors LLC acquired a new stake in WEC Energy Group in the 1st quarter valued at about $25,000. Northwest Bank & Trust Co acquired a new stake in WEC Energy Group in the 4th quarter valued at about $25,000. Finally, Tennessee Valley Asset Management Partners acquired a new stake in WEC Energy Group in the 4th quarter valued at about $26,000. 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.