WEC Energy Group (NYSE:WEC) Price Target Increased to $106.00 by Analysts at Wells Fargo & Company

WEC Energy Group (NYSE:WEC) had its price target upped by Wells Fargo & Company from $103.00 to $106.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an overweight rating on the utilities provider’s stock.

Other equities analysts also recently issued reports about the stock. Bank of America boosted their target price on shares of WEC Energy Group from $88.00 to $90.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. Scotiabank boosted their target price on shares of WEC Energy Group from $90.00 to $103.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. StockNews.com downgraded shares of WEC Energy Group from a “hold” rating to a “sell” rating in a report on Friday, August 9th. KeyCorp boosted their target price on shares of WEC Energy Group from $98.00 to $103.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Finally, Barclays boosted their target price on shares of WEC Energy Group from $86.00 to $89.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $94.00.

WEC Energy Group Stock Up 1.6 %

NYSE:WEC opened at $98.74 on Wednesday. WEC Energy Group has a 1-year low of $75.13 and a 1-year high of $98.93. The company has a 50-day moving average of $93.73 and a 200 day moving average of $85.79. The firm has a market cap of $31.21 billion, a PE ratio of 22.80, a price-to-earnings-growth ratio of 2.48 and a beta of 0.44. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.74 and a quick ratio of 0.54.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. The company had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.87 billion. WEC Energy Group had a net margin of 15.85% and a return on equity of 12.26%. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.92 earnings per share. As a group, research analysts anticipate that WEC Energy Group will post 4.87 EPS for the current fiscal year.

Insider Activity

In other WEC Energy Group news, VP Anthony Reese sold 1,362 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $88.78, for a total transaction of $120,918.36. Following the completion of the transaction, the vice president now directly owns 1,462 shares of the company’s stock, valued at approximately $129,796.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other WEC Energy Group news, VP Anthony Reese sold 1,362 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $88.78, for a total transaction of $120,918.36. Following the completion of the transaction, the vice president now directly owns 1,462 shares of the company’s stock, valued at approximately $129,796.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Joshua M. Erickson sold 350 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $89.75, for a total transaction of $31,412.50. Following the transaction, the vice president now directly owns 2,377 shares of the company’s stock, valued at $213,335.75. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,702 shares of company stock worth $1,078,058 over the last 90 days. 0.44% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On WEC Energy Group

A number of institutional investors have recently bought and sold shares of WEC. Wellington Management Group LLP purchased a new position in WEC Energy Group during the 4th quarter worth approximately $2,639,000. Nomura Holdings Inc. purchased a new position in shares of WEC Energy Group during the 4th quarter valued at approximately $535,000. Massmutual Trust Co. FSB ADV increased its holdings in shares of WEC Energy Group by 23.3% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 2,477 shares of the utilities provider’s stock valued at $203,000 after purchasing an additional 468 shares in the last quarter. Fulton Bank N.A. increased its holdings in shares of WEC Energy Group by 16.8% during the 1st quarter. Fulton Bank N.A. now owns 2,982 shares of the utilities provider’s stock valued at $245,000 after purchasing an additional 429 shares in the last quarter. Finally, Czech National Bank increased its holdings in shares of WEC Energy Group by 0.5% during the 1st quarter. Czech National Bank now owns 55,501 shares of the utilities provider’s stock valued at $4,558,000 after purchasing an additional 255 shares in the last quarter. 77.20% of the stock is owned by hedge funds and other institutional investors.

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.