Brokerages Set WEC Energy Group, Inc. (NYSE:WEC) Target Price at $86.29

Shares of WEC Energy Group, Inc. (NYSE:WEC) have been assigned an average recommendation of “Hold” from the twelve brokerages that are currently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation, five have given a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $86.29.

A number of research firms have issued reports on WEC. Barclays reduced their target price on shares of WEC Energy Group from $79.00 to $75.00 and set an “underweight” rating on the stock in a report on Thursday, February 8th. BMO Capital Markets increased their price objective on shares of WEC Energy Group from $89.00 to $90.00 and gave the company a “market perform” rating in a research report on Thursday, May 2nd. Wells Fargo & Company lowered their price objective on shares of WEC Energy Group from $93.00 to $91.00 and set an “overweight” rating for the company in a research report on Friday, February 2nd. The Goldman Sachs Group initiated coverage on shares of WEC Energy Group in a research report on Wednesday, April 10th. They issued a “neutral” rating and a $88.00 price objective for the company. Finally, StockNews.com raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Thursday, May 9th.

WEC Energy Group Price Performance

WEC Energy Group stock opened at $80.70 on Wednesday. WEC Energy Group has a 52 week low of $75.13 and a 52 week high of $93.37. The company has a quick ratio of 0.42, a current ratio of 0.55 and a debt-to-equity ratio of 1.24. The firm’s 50-day simple moving average is $81.96 and its 200 day simple moving average is $81.61. The firm has a market capitalization of $25.49 billion, a PE ratio of 17.62, a P/E/G ratio of 2.13 and a beta of 0.40.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $1.97 EPS for the quarter, topping the consensus estimate of $1.90 by $0.07. The business had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.92 billion. WEC Energy Group had a net margin of 16.67% and a return on equity of 13.01%. The business’s revenue for the quarter was down 7.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.61 EPS. On average, equities research analysts predict that WEC Energy Group will post 4.86 EPS for the current fiscal year.

WEC Energy Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 14th will be paid a $0.835 dividend. This represents a $3.34 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date is Monday, May 13th. WEC Energy Group’s payout ratio is 72.93%.

Insider Buying and Selling at WEC Energy Group

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Northwest Bank & Trust Co acquired a new stake in WEC Energy Group during the 4th quarter worth about $25,000. Opal Wealth Advisors LLC acquired a new stake in WEC Energy Group during the 1st quarter worth about $25,000. Tennessee Valley Asset Management Partners acquired a new stake in WEC Energy Group during the 4th quarter worth about $26,000. Valued Wealth Advisors LLC acquired a new stake in WEC Energy Group during the 4th quarter worth about $28,000. Finally, First United Bank & Trust acquired a new stake in WEC Energy Group during the 4th quarter worth about $30,000. 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.