Wells Fargo & Company Increases WEC Energy Group (NYSE:WEC) Price Target to $106.00

WEC Energy Group (NYSE:WEC) had its target price upped by equities research analysts at Wells Fargo & Company from $103.00 to $106.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the utilities provider’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 6.92% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the company. KeyCorp increased their target price on WEC Energy Group from $98.00 to $103.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Scotiabank lifted their price objective 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. BMO Capital Markets raised their price target on shares of WEC Energy Group from $91.00 to $93.00 and gave the company a “market perform” rating in a research report on Friday, August 23rd. Barclays boosted their price objective on WEC Energy Group from $86.00 to $89.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Finally, StockNews.com downgraded WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $94.00.

WEC Energy Group Trading Up 0.4 %

NYSE:WEC opened at $99.14 on Wednesday. The firm has a fifty day simple moving average of $93.96 and a two-hundred day simple moving average of $85.88. WEC Energy Group has a 12 month low of $75.13 and a 12 month high of $99.33. The stock has a market capitalization of $31.31 billion, a price-to-earnings ratio of 21.65, a PEG ratio of 2.48 and a beta of 0.44. 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 issued its earnings results on Wednesday, July 31st. The utilities provider reported $0.67 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 company had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same period last year, the business posted $0.92 EPS. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. Analysts expect that WEC Energy Group will post 4.87 EPS for the current fiscal year.

Insider Activity

In related news, VP Joshua M. Erickson sold 350 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $89.75, for a total value of $31,412.50. Following the transaction, the vice president now directly owns 2,377 shares of the company’s stock, valued at approximately $213,335.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Joshua M. Erickson sold 350 shares of WEC Energy Group stock in a transaction that occurred on Monday, August 5th. The shares were 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 of the company’s stock, valued at approximately $213,335.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Anthony Reese sold 1,362 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $88.78, for a total value of $120,918.36. Following the completion of the transaction, the vice president now owns 1,462 shares in the company, valued at approximately $129,796.36. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,702 shares of company stock valued at $1,078,058 in the last ninety days. 0.34% of the stock is currently owned by insiders.

Institutional Investors Weigh In On WEC Energy Group

Several large investors have recently added to or reduced their stakes in WEC. Opal Wealth Advisors LLC bought a new position in WEC Energy Group during the first quarter worth about $25,000. Global X Japan Co. Ltd. boosted its holdings 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 worth $25,000 after buying an additional 118 shares during the period. Olistico Wealth LLC purchased a new position in WEC Energy Group in the 2nd quarter valued at approximately $29,000. William B. Walkup & Associates Inc. bought a new stake in WEC Energy Group during the 2nd quarter valued at $31,000. Finally, FinTrust Capital Advisors LLC lifted its position in shares of WEC Energy Group by 52.6% during the first quarter. FinTrust Capital Advisors LLC now owns 412 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 142 shares in the last quarter. Hedge funds and other institutional investors own 77.20% of the company’s stock.

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.