Brokerages Set WEC Energy Group, Inc. (NYSE:WEC) Price Target at $101.88

WEC Energy Group, Inc. (NYSE:WEC) has received a consensus rating of “Hold” from the eight brokerages that are presently covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $101.88.

Several equities analysts have commented on the stock. Scotiabank upped their price objective on shares of WEC Energy Group from $103.00 to $110.00 and gave the company a “sector outperform” rating in a report on Monday, December 9th. Wells Fargo & Company increased their price target on shares of WEC Energy Group from $112.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. Bank of America upgraded shares of WEC Energy Group from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $90.00 to $98.00 in a research report on Thursday, December 12th. Barclays raised WEC Energy Group from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $89.00 to $93.00 in a research report on Thursday, January 2nd. Finally, BMO Capital Markets lifted their price target on WEC Energy Group from $95.00 to $100.00 and gave the stock a “market perform” rating in a report on Wednesday, February 5th.

WEC Energy Group Trading Up 0.3 %

Shares of NYSE:WEC opened at $107.83 on Tuesday. WEC Energy Group has a 52-week low of $77.47 and a 52-week high of $110.19. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.43 and a current ratio of 0.60. The company has a market capitalization of $34.06 billion, a P/E ratio of 22.33, a price-to-earnings-growth ratio of 2.60 and a beta of 0.45. The company has a 50-day simple moving average of $102.36 and a 200 day simple moving average of $98.39.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.06). The business had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.50 billion. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. The business’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.10 earnings per share. Sell-side analysts forecast that WEC Energy Group will post 5.23 earnings per share for the current year.

Insider Transactions at WEC Energy Group

In other news, Director Ulice Payne, Jr. sold 1,150 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $104.17, for a total value of $119,795.50. Following the completion of the transaction, the director now directly owns 21,951 shares in the company, valued at approximately $2,286,635.67. The trade was a 4.98 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gale E. Klappa sold 25,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $108.62, for a total transaction of $2,715,500.00. Following the sale, the director now owns 274,955 shares in the company, valued at $29,865,612.10. This represents a 8.33 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by insiders.

Institutional Investors Weigh In On WEC Energy Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Larson Financial Group LLC raised its holdings in shares of WEC Energy Group by 3,828.6% during the 4th quarter. Larson Financial Group LLC now owns 275 shares of the utilities provider’s stock worth $26,000 after buying an additional 268 shares in the last quarter. Prudent Man Investment Management Inc. bought a new position in WEC Energy Group in the fourth quarter valued at about $28,000. Coastline Trust Co acquired a new position in WEC Energy Group during the third quarter worth about $29,000. Hoey Investments Inc. bought a new position in shares of WEC Energy Group in the fourth quarter worth about $42,000. Finally, Human Investing LLC acquired a new stake in shares of WEC Energy Group in the 4th quarter valued at approximately $52,000. 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.