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

WEC Energy Group (NYSE:WEC) had its price objective raised by BMO Capital Markets from $91.00 to $93.00 in a report published on Friday morning, Benzinga reports. BMO Capital Markets currently has a market perform rating on the utilities provider’s stock.

A number of other equities research analysts also recently weighed in on WEC. Barclays lifted their target price 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 downgraded WEC Energy Group from a hold rating to a sell rating in a report on Friday, August 9th. KeyCorp dropped their target price on WEC Energy Group from $96.00 to $95.00 and set an overweight rating for the company in a report on Monday, July 22nd. Wells Fargo & Company lifted their target price on WEC Energy Group from $98.00 to $103.00 and gave the stock an overweight rating in a report on Wednesday. Finally, Scotiabank lifted their target price on WEC Energy Group from $90.00 to $103.00 and gave the stock a sector outperform rating in a report on Tuesday. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $88.85.

WEC Energy Group Trading Down 0.3 %

Shares of WEC Energy Group stock opened at $92.66 on Friday. The business has a fifty day simple moving average of $83.42 and a two-hundred day simple moving average of $81.65. WEC Energy Group has a 1 year low of $75.13 and a 1 year high of $93.28. The company has a market capitalization of $29.26 billion, a price-to-earnings ratio of 20.23, a P/E/G ratio of 2.31 and a beta of 0.41. 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 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. WEC Energy Group had a return on equity of 12.26% and a net margin of 15.85%. The business had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter last year, the firm posted $0.92 EPS. The company’s quarterly revenue was down 3.2% on a year-over-year basis. Research analysts forecast that WEC Energy Group will post 4.88 EPS for the current year.

WEC Energy Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 14th will be given a $0.835 dividend. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date of this dividend is Wednesday, August 14th. WEC Energy Group’s payout ratio is currently 72.93%.

Insider Buying and Selling at WEC Energy Group

In other WEC Energy Group news, VP Joshua M. Erickson sold 350 shares of WEC Energy Group stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $89.75, for a total value of $31,412.50. Following the transaction, the vice president now owns 2,377 shares in the company, valued at $213,335.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other WEC Energy Group news, Director Ulice Payne, Jr. sold 750 shares of WEC Energy Group stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $88.45, for a total value of $66,337.50. Following the transaction, the director now owns 21,876 shares in the company, valued at $1,934,932.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Joshua M. Erickson sold 350 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $89.75, for a total value of $31,412.50. Following the sale, the vice president now owns 2,377 shares in the company, valued at $213,335.75. The disclosure for this sale can be found here. Insiders have sold a total of 2,462 shares of company stock worth $218,668 over the last 90 days. Insiders own 0.34% of the company’s stock.

Institutional Trading of WEC Energy Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Northwest Bank & Trust Co bought a new stake in shares of WEC Energy Group during the fourth quarter worth about $25,000. Opal Wealth Advisors LLC bought a new stake in shares of WEC Energy Group during the first quarter worth about $25,000. Global X Japan Co. Ltd. grew its holdings in shares of WEC Energy Group by 58.1% during the second 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 during the last quarter. Olistico Wealth LLC bought a new stake in shares of WEC Energy Group during the second quarter worth about $29,000. Finally, First United Bank & Trust bought a new stake in shares of WEC Energy Group during the fourth quarter worth about $30,000. 77.20% of the stock is currently owned by 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.