WEC Energy Group Inc (NYSE:WEC) Receives Average Rating of “Hold” from Brokerages

WEC Energy Group Inc (NYSE:WEC) has received an average rating of “Hold” from the thirteen analysts that are presently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $85.11.

WEC has been the subject of a number of research analyst reports. Credit Suisse Group reduced their price objective on WEC Energy Group from $85.00 to $81.00 and set an “underperform” rating for the company in a report on Wednesday, November 13th. Guggenheim cut WEC Energy Group from a “buy” rating to a “neutral” rating in a report on Wednesday, September 4th. They noted that the move was a valuation call. ValuEngine cut WEC Energy Group from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. assumed coverage on WEC Energy Group in a research note on Tuesday, October 8th. They issued a “neutral” rating and a $99.00 price target for the company. Finally, UBS Group boosted their price target on WEC Energy Group from $87.00 to $94.00 and gave the company a “neutral” rating in a research note on Friday, September 6th.

Shares of NYSE:WEC traded up $0.40 during trading on Tuesday, reaching $89.18. 911,648 shares of the stock were exchanged, compared to its average volume of 1,252,166. WEC Energy Group has a 12 month low of $66.75 and a 12 month high of $98.19. The firm has a market cap of $28.00 billion, a PE ratio of 26.70, a PEG ratio of 4.09 and a beta of -0.03. The stock has a 50-day moving average price of $89.76 and a 200-day moving average price of $89.19. The company has a current ratio of 0.63, a quick ratio of 0.42 and a debt-to-equity ratio of 1.07.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data on Wednesday, November 6th. The utilities provider reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.03. WEC Energy Group had a return on equity of 10.91% and a net margin of 14.32%. The company had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter in the previous year, the company posted $0.74 earnings per share. The business’s revenue was down 2.2% on a year-over-year basis. On average, sell-side analysts expect that WEC Energy Group will post 3.53 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Friday, February 14th will be given a dividend of $0.6325 per share. This is an increase from WEC Energy Group’s previous quarterly dividend of $0.59. This represents a $2.53 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend is Thursday, February 13th. WEC Energy Group’s payout ratio is currently 70.66%.

In other WEC Energy Group news, Director Barbara L. Bowles sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $88.07, for a total transaction of $88,070.00. 0.75% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of WEC Energy Group by 1.7% during the second quarter. Vanguard Group Inc. now owns 39,434,643 shares of the utilities provider’s stock worth $3,287,666,000 after buying an additional 659,769 shares in the last quarter. BlackRock Inc. increased its holdings in WEC Energy Group by 2.0% in the second quarter. BlackRock Inc. now owns 28,158,196 shares of the utilities provider’s stock valued at $2,347,547,000 after purchasing an additional 550,839 shares during the period. State Street Corp increased its holdings in WEC Energy Group by 1.8% in the third quarter. State Street Corp now owns 16,914,958 shares of the utilities provider’s stock valued at $1,608,613,000 after purchasing an additional 299,918 shares during the period. Magellan Asset Management Ltd increased its holdings in WEC Energy Group by 456.9% in the second quarter. Magellan Asset Management Ltd now owns 6,826,069 shares of the utilities provider’s stock valued at $569,089,000 after purchasing an additional 5,600,357 shares during the period. Finally, Wells Fargo & Company MN increased its holdings in WEC Energy Group by 2.1% in the second quarter. Wells Fargo & Company MN now owns 6,691,060 shares of the utilities provider’s stock valued at $557,833,000 after purchasing an additional 135,323 shares during the period. Institutional investors own 77.06% of the company’s stock.

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.

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Analyst Recommendations for WEC Energy Group (NYSE:WEC)

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