WEC Energy Group (NYSE:WEC) Price Target Raised to $104.00 at BMO Capital Markets

WEC Energy Group (NYSE:WEC) had its target price increased by equities research analysts at BMO Capital Markets from $97.00 to $104.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “market perform” rating on the utilities provider’s stock. BMO Capital Markets’ price target suggests a potential upside of 4.12% from the stock’s previous close.

Several other equities analysts also recently commented on WEC. KeyCorp raised their target price on shares of WEC Energy Group from $103.00 to $108.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. StockNews.com upgraded shares of WEC Energy Group from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Wells Fargo & Company increased their price target on shares of WEC Energy Group from $103.00 to $106.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Jefferies Financial Group assumed coverage on WEC Energy Group in a research report on Thursday, September 19th. They issued a “hold” rating and a $102.00 price target for the company. Finally, Bank of America raised their price objective on WEC Energy Group from $88.00 to $90.00 and gave the company an “underperform” rating in a research note on Thursday, August 29th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $95.45.

WEC Energy Group Stock Down 1.2 %

WEC stock traded down $1.17 on Monday, reaching $99.88. 373,583 shares of the company traded hands, compared to its average volume of 2,128,996. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.65 and a quick ratio of 0.46. The firm has a fifty day simple moving average of $97.33 and a 200-day simple moving average of $89.49. WEC Energy Group has a one year low of $75.13 and a one year high of $102.79. The company has a market cap of $31.60 billion, a P/E ratio of 24.42, a price-to-earnings-growth ratio of 2.75 and a beta of 0.46.

WEC Energy Group (NYSE:WEC) last issued its earnings results on Thursday, October 31st. The utilities provider reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.12. WEC Energy Group had a return on equity of 11.72% and a net margin of 15.14%. The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.93 billion. During the same quarter in the previous year, the firm earned $1.00 EPS. WEC Energy Group’s revenue was down 4.8% on a year-over-year basis. Research analysts anticipate that WEC Energy Group will post 4.87 earnings per share for the current year.

Insider Activity

In related news, CEO Scott J. Lauber sold 6,720 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $100.89, for a total transaction of $677,980.80. Following the sale, the chief executive officer now owns 45,709 shares in the company, valued at approximately $4,611,581.01. This trade represents a 12.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gale E. Klappa sold 40,269 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $99.56, for a total transaction of $4,009,181.64. Following the completion of the transaction, the director now owns 273,248 shares of the company’s stock, valued at approximately $27,204,570.88. This trade represents a 12.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 48,794 shares of company stock valued at $4,866,579 in the last ninety days. Insiders own 0.44% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Global X Japan Co. Ltd. lifted its stake in WEC Energy Group by 58.1% in the 2nd quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 118 shares in the last quarter. Olistico Wealth LLC acquired a new position in WEC Energy Group during the second quarter worth $29,000. Coastline Trust Co purchased a new stake in WEC Energy Group in the 3rd quarter valued at $29,000. William B. Walkup & Associates Inc. purchased a new position in shares of WEC Energy Group during the 2nd quarter worth $31,000. Finally, Triad Wealth Partners LLC purchased a new position in shares of WEC Energy Group during the 2nd quarter worth $36,000. 77.20% of the stock is owned by hedge funds and other institutional investors.

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.