WEC Energy Group (WEC) PT Raised to $73.00

WEC Energy Group (NYSE:WEC) had its price target lifted by Barclays from $71.00 to $73.00 in a research note published on Monday. The firm currently has a hold rating on the utilities provider’s stock.

A number of other equities analysts also recently commented on WEC. Deutsche Bank upped their price objective on shares of WEC Energy Group from $67.00 to $68.00 and gave the stock a hold rating in a research report on Wednesday, August 1st. Zacks Investment Research downgraded shares of WEC Energy Group from a buy rating to a hold rating in a research report on Thursday, August 9th. Howard Weil initiated coverage on shares of WEC Energy Group in a research report on Tuesday, September 4th. They set a sector outperform rating and a $72.00 price objective for the company. Scotia Howard Weill initiated coverage on shares of WEC Energy Group in a research report on Tuesday, September 4th. They set a sector outperform rating and a $72.00 price objective for the company. Finally, Wells Fargo & Co upped their price objective on shares of WEC Energy Group from $71.00 to $75.00 and gave the stock an outperform rating in a research report on Monday, September 17th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $70.40.

Shares of WEC Energy Group stock opened at $70.78 on Monday. The firm has a market cap of $22.79 billion, a price-to-earnings ratio of 22.54, a PEG ratio of 4.95 and a beta of -0.03. The company has a quick ratio of 0.34, a current ratio of 0.51 and a debt-to-equity ratio of 0.93. WEC Energy Group has a one year low of $58.48 and a one year high of $72.63.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data on Wednesday, October 31st. The utilities provider reported $0.74 EPS for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.03. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.66 billion. WEC Energy Group had a net margin of 16.82% and a return on equity of 11.18%. WEC Energy Group’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.68 EPS. On average, equities research analysts forecast that WEC Energy Group will post 3.33 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Saturday, December 1st. Stockholders of record on Wednesday, November 14th will be paid a dividend of $0.5525 per share. The ex-dividend date of this dividend is Tuesday, November 13th. This represents a $2.21 dividend on an annualized basis and a dividend yield of 3.12%. WEC Energy Group’s dividend payout ratio (DPR) is presently 70.38%.

In other news, Chairman Gale E. Klappa sold 146,618 shares of the company’s stock in a transaction on Tuesday, November 20th. The shares were sold at an average price of $71.68, for a total transaction of $10,509,578.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.97% of the company’s stock.

Large investors have recently bought and sold shares of the company. Braun Bostich & Associates Inc. grew its stake in WEC Energy Group by 1,300.0% in the 2nd quarter. Braun Bostich & Associates Inc. now owns 1,764 shares of the utilities provider’s stock valued at $114,000 after acquiring an additional 1,638 shares during the last quarter. Centaurus Financial Inc. acquired a new stake in WEC Energy Group in the 2nd quarter valued at about $141,000. Bridgeworth LLC acquired a new stake in WEC Energy Group in the 2nd quarter valued at about $156,000. Flagship Harbor Advisors LLC acquired a new stake in WEC Energy Group in the 2nd quarter valued at about $164,000. Finally, Cornerstone Wealth Management LLC acquired a new stake in WEC Energy Group in the 2nd quarter valued at about $200,000. 73.01% of the stock is currently 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 nonregulated renewable energy services in the United States. The company operates through six segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure, and Corporate and Other.

See Also: Outstanding Shares and The Effect on Share Price

Analyst Recommendations for WEC Energy Group (NYSE:WEC)

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