WEC Energy Group, Inc. (NYSE:WEC) Receives $120.21 Consensus Price Target from Brokerages

Shares of WEC Energy Group, Inc. (NYSE:WEC) have earned an average rating of “Moderate Buy” from the sixteen analysts that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation, five have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $120.2143.

Several equities research analysts recently commented on the company. Wells Fargo & Company assumed coverage on WEC Energy Group in a report on Monday, October 27th. They set an “overweight” rating and a $124.00 target price on the stock. Scotiabank lifted their price target on WEC Energy Group from $129.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, October 31st. Cowen began coverage on WEC Energy Group in a research note on Wednesday, October 15th. They issued a “hold” rating on the stock. BMO Capital Markets upped their price objective on WEC Energy Group from $114.00 to $120.00 and gave the company a “market perform” rating in a report on Tuesday, October 21st. Finally, BTIG Research raised WEC Energy Group to a “strong-buy” rating in a research note on Wednesday, October 22nd.

WEC Energy Group Stock Performance

WEC stock opened at $111.24 on Friday. The company has a market capitalization of $36.18 billion, a P/E ratio of 21.03, a PEG ratio of 2.81 and a beta of 0.48. The company has a 50-day simple moving average of $113.16 and a 200 day simple moving average of $109.03. WEC Energy Group has a fifty-two week low of $91.94 and a fifty-two week high of $118.18. The company has a quick ratio of 0.33, a current ratio of 0.50 and a debt-to-equity ratio of 1.29.

WEC Energy Group (NYSE:WEC) last released its earnings results on Tuesday, September 2nd. The utilities provider reported $1.43 EPS for the quarter. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.60%. The firm had revenue of $2.28 billion for the quarter. Sell-side analysts predict that WEC Energy Group will post 5.23 earnings per share for the current fiscal year.

WEC Energy Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be given a dividend of $0.8925 per share. The ex-dividend date is Friday, November 14th. This represents a $3.57 annualized dividend and a dividend yield of 3.2%. WEC Energy Group’s dividend payout ratio (DPR) is 67.49%.

Institutional Trading of WEC Energy Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in WEC Energy Group by 0.8% in the third quarter. Vanguard Group Inc. now owns 40,280,324 shares of the utilities provider’s stock worth $4,615,722,000 after buying an additional 334,563 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of WEC Energy Group by 2.8% during the 2nd quarter. Geode Capital Management LLC now owns 8,594,608 shares of the utilities provider’s stock valued at $892,020,000 after acquiring an additional 235,653 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of WEC Energy Group by 34.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,213,304 shares of the utilities provider’s stock worth $567,727,000 after acquiring an additional 1,349,522 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of WEC Energy Group by 16.6% in the 1st quarter. JPMorgan Chase & Co. now owns 5,103,604 shares of the utilities provider’s stock worth $556,191,000 after acquiring an additional 726,267 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of WEC Energy Group by 0.8% in the 1st quarter. Ameriprise Financial Inc. now owns 4,274,385 shares of the utilities provider’s stock worth $466,451,000 after acquiring an additional 33,810 shares during the last quarter. 77.20% of the stock is owned by institutional investors and hedge funds.

About WEC Energy Group

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.