WEC Energy Group, Inc. (NYSE:WEC) Given Consensus Recommendation of “Hold” by Brokerages

WEC Energy Group, Inc. (NYSE:WEC) has earned an average rating of “Hold” from the twelve brokerages that are covering the company, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $91.31.

Several research firms have weighed in on WEC. Scotiabank increased their price target on shares of WEC Energy Group from $90.00 to $103.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. Barclays lifted their price target on WEC Energy Group from $80.00 to $86.00 and gave the stock an “underweight” rating in a report on Tuesday, August 6th. StockNews.com lowered WEC Energy Group from a “hold” rating to a “sell” rating in a report on Friday, August 9th. BMO Capital Markets increased their price objective on WEC Energy Group from $91.00 to $93.00 and gave the stock a “market perform” rating in a research report on Friday, August 23rd. Finally, Jefferies Financial Group started coverage on shares of WEC Energy Group in a research report on Thursday, September 19th. They issued a “hold” rating and a $102.00 target price for the company.

Insider Buying and Selling

In other WEC Energy Group news, VP William J. Guc sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $92.99, for a total transaction of $557,940.00. Following the completion of the transaction, the vice president now directly owns 7,702 shares in the company, valued at $716,208.98. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, VP Anthony Reese sold 1,362 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $88.78, for a total value of $120,918.36. Following the sale, the vice president now directly owns 1,462 shares of the company’s stock, valued at $129,796.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP William J. Guc sold 6,000 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $92.99, for a total value of $557,940.00. Following the transaction, the vice president now directly owns 7,702 shares of the company’s stock, valued at approximately $716,208.98. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,702 shares of company stock worth $1,078,058. Corporate insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On WEC Energy Group

A number of hedge funds have recently made changes to their positions in WEC. Vantage Financial Partners LLC boosted its position in WEC Energy Group by 25.2% in the fourth quarter. Vantage Financial Partners LLC now owns 7,685 shares of the utilities provider’s stock valued at $647,000 after buying an additional 1,547 shares in the last quarter. TrinityPoint Wealth LLC grew its position in WEC Energy Group by 83.6% during the 4th quarter. TrinityPoint Wealth LLC now owns 10,326 shares of the utilities provider’s stock worth $869,000 after acquiring an additional 4,703 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in WEC Energy Group by 132.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 540 shares of the utilities provider’s stock worth $45,000 after purchasing an additional 308 shares in the last quarter. SageView Advisory Group LLC bought a new position in WEC Energy Group in the fourth quarter valued at about $737,000. Finally, Advisory Services Network LLC boosted its stake in shares of WEC Energy Group by 34.0% during the fourth quarter. Advisory Services Network LLC now owns 37,561 shares of the utilities provider’s stock valued at $3,162,000 after purchasing an additional 9,526 shares in the last quarter. 77.20% of the stock is currently owned by institutional investors and hedge funds.

WEC Energy Group Price Performance

NYSE:WEC opened at $95.26 on Tuesday. The company has a quick ratio of 0.54, a current ratio of 0.74 and a debt-to-equity ratio of 1.37. WEC Energy Group has a 12-month low of $75.13 and a 12-month high of $96.65. The stock’s 50 day moving average price is $91.11 and its two-hundred day moving average price is $84.39. The firm has a market capitalization of $30.09 billion, a price-to-earnings ratio of 20.80, a P/E/G ratio of 2.43 and a beta of 0.44.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.04. The business had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.87 billion. WEC Energy Group had a return on equity of 12.26% and a net margin of 15.85%. The company’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.92 EPS. On average, analysts anticipate that WEC Energy Group will post 4.87 earnings per share for the current year.

WEC Energy Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 14th were issued a dividend of $0.835 per share. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date of this dividend was Wednesday, August 14th. WEC Energy Group’s dividend payout ratio (DPR) is presently 72.93%.

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.