WEC Energy Group (NYSE:WEC) Price Target Raised to $103.00 at KeyCorp

WEC Energy Group (NYSE:WEC) had its price target boosted by KeyCorp from $98.00 to $103.00 in a report published on Monday, Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

Several other research analysts also recently weighed in on the stock. Wells Fargo & Company lifted their target price on shares of WEC Energy Group from $98.00 to $103.00 and gave the stock an overweight rating in a research report on Wednesday, August 21st. Barclays lifted their target price on shares of WEC Energy Group from $80.00 to $86.00 and gave the stock an underweight rating in a research report on Tuesday, August 6th. Scotiabank lifted 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, August 20th. BMO Capital Markets lifted their target price on shares of 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, StockNews.com downgraded shares of WEC Energy Group from a hold rating to a sell rating in a research report on Friday, August 9th. Four research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, WEC Energy Group has an average rating of Hold and a consensus price target of $91.69.

WEC Energy Group Stock Up 1.0 %

WEC stock opened at $96.18 on Monday. WEC Energy Group has a 52 week low of $75.13 and a 52 week high of $96.65. The company has a market capitalization of $30.40 billion, a price-to-earnings ratio of 21.00, a price-to-earnings-growth ratio of 2.45 and a beta of 0.44. The firm’s 50-day moving average is $91.40 and its two-hundred day moving average is $84.55. The company has a current ratio of 0.74, a quick ratio of 0.54 and a debt-to-equity ratio of 1.37.

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

WEC Energy Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 14th were given a $0.835 dividend. This represents a $3.34 annualized dividend and a yield of 3.47%. The ex-dividend date was Wednesday, August 14th. WEC Energy Group’s dividend payout ratio is 72.93%.

Insiders Place Their Bets

In other WEC Energy Group news, VP Mary Beth Straka sold 3,240 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $93.04, for a total value of $301,449.60. Following the completion of the sale, the vice president now directly owns 3,662 shares of the company’s stock, valued at $340,712.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Ulice Payne, Jr. sold 750 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $88.45, for a total value of $66,337.50. Following the completion of the sale, the director now directly owns 21,876 shares in the company, valued at $1,934,932.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Mary Beth Straka sold 3,240 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $93.04, for a total transaction of $301,449.60. Following the completion of the sale, the vice president now owns 3,662 shares of the company’s stock, valued at $340,712.48. The disclosure for this sale can be found here. Insiders sold 11,702 shares of company stock valued at $1,078,058 over the last ninety days. Corporate insiders own 0.34% of the company’s stock.

Institutional Trading of WEC Energy Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. Bradley Foster & Sargent Inc. CT lifted its stake in shares of WEC Energy Group by 2.0% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 6,047 shares of the utilities provider’s stock worth $474,000 after buying an additional 117 shares during the last quarter. Global X Japan Co. Ltd. lifted its stake in shares of WEC Energy Group by 58.1% in the second quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock worth $25,000 after buying an additional 118 shares during the last quarter. Diversified Trust Co lifted its stake in shares of WEC Energy Group by 2.7% in the first quarter. Diversified Trust Co now owns 5,099 shares of the utilities provider’s stock worth $419,000 after buying an additional 134 shares during the last quarter. MPS Loria Financial Planners LLC lifted its stake in shares of WEC Energy Group by 2.1% in the first quarter. MPS Loria Financial Planners LLC now owns 6,704 shares of the utilities provider’s stock worth $551,000 after buying an additional 135 shares during the last quarter. Finally, FinTrust Capital Advisors LLC lifted its stake in shares of WEC Energy Group by 52.6% in the first quarter. FinTrust Capital Advisors LLC now owns 412 shares of the utilities provider’s stock worth $34,000 after buying an additional 142 shares during the last quarter. 77.20% of the stock is currently owned by institutional investors and hedge funds.

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.