WEC Energy Group (NYSE:WEC) Price Target Increased to $93.00 by Analysts at BMO Capital Markets

WEC Energy Group (NYSE:WEC) had its price objective increased by analysts at BMO Capital Markets from $91.00 to $93.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “market perform” rating on the utilities provider’s stock. BMO Capital Markets’ price objective indicates a potential upside of 0.04% from the stock’s current price.

Several other equities analysts also recently commented on WEC. Barclays increased their price target on WEC Energy Group from $80.00 to $86.00 and gave the company an “underweight” rating in a report on Tuesday, August 6th. KeyCorp lowered their target price on shares of WEC Energy Group from $96.00 to $95.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. 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 research report on Tuesday. StockNews.com lowered shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Finally, Wells Fargo & Company upped their price target on WEC Energy Group from $98.00 to $103.00 and gave the company an “overweight” rating in a report on Wednesday. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, WEC Energy Group has an average rating of “Hold” and a consensus target price of $88.85.

WEC Energy Group Trading Up 1.3 %

WEC Energy Group stock opened at $92.96 on Friday. The firm’s 50 day moving average price is $83.14 and its two-hundred day moving average price is $81.55. The firm has a market cap of $29.36 billion, a price-to-earnings ratio of 20.30, a price-to-earnings-growth ratio of 2.31 and a beta of 0.41. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.54 and a current ratio of 0.74. WEC Energy Group has a 1 year low of $75.13 and a 1 year high of $93.08.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. The firm had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.87 billion. WEC Energy Group had a return on equity of 12.26% and a net margin of 15.85%. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period last year, the company posted $0.92 EPS. On average, research analysts predict that WEC Energy Group will post 4.88 EPS for the current fiscal year.

Insider Buying and Selling at WEC Energy Group

In other news, VP Joshua M. Erickson sold 350 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $89.75, for a total transaction of $31,412.50. Following the sale, the vice president now owns 2,377 shares of the company’s stock, valued at $213,335.75. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, VP Joshua M. Erickson sold 350 shares of the 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 completion of the sale, the vice president now directly owns 2,377 shares of the company’s stock, valued at approximately $213,335.75. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ulice Payne, Jr. sold 750 shares of WEC Energy Group stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $88.45, for a total transaction of $66,337.50. Following the completion of the transaction, the director now directly owns 21,876 shares in the company, valued at approximately $1,934,932.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,462 shares of company stock valued at $218,668. Corporate insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On WEC Energy Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WEC. Northwest Bank & Trust Co bought a new stake in shares of WEC Energy Group in the fourth quarter valued at about $25,000. Opal Wealth Advisors LLC acquired a new stake in WEC Energy Group in the 1st quarter valued at approximately $25,000. Global X Japan Co. Ltd. raised its position 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 valued at $25,000 after buying an additional 118 shares during the last quarter. Olistico Wealth LLC bought a new stake in WEC Energy Group in the 2nd quarter valued at approximately $29,000. Finally, First United Bank & Trust acquired a new position in WEC Energy Group during the 4th quarter worth approximately $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.