Analysts Set WEC Energy Group, Inc. (WEC) PT at $65.43
Shares of WEC Energy Group, Inc. (NYSE:WEC) have been assigned an average rating of “Hold” from the ten research firms that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $65.43.
A number of analysts have issued reports on WEC shares. KeyCorp reaffirmed a “hold” rating on shares of WEC Energy Group in a research note on Friday, September 1st. Bank of America Corporation lifted their price objective on WEC Energy Group from $69.00 to $71.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 15th. Zacks Investment Research raised WEC Energy Group from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research note on Friday, October 27th. Finally, BidaskClub raised WEC Energy Group from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd.
In other news, VP Scott J. Lauber sold 1,240 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $70.00, for a total transaction of $86,800.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Susan H. Martin sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $66.00, for a total value of $990,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 68,962 shares of company stock worth $4,735,707. Corporate insiders own 0.97% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. ARGI Investment Services LLC bought a new position in shares of WEC Energy Group during the 2nd quarter valued at approximately $870,000. Principal Financial Group Inc. increased its position in shares of WEC Energy Group by 362.0% during the 2nd quarter. Principal Financial Group Inc. now owns 2,195,130 shares of the utilities provider’s stock valued at $134,737,000 after purchasing an additional 1,719,955 shares during the last quarter. KBC Group NV increased its position in shares of WEC Energy Group by 14.1% during the 2nd quarter. KBC Group NV now owns 33,577 shares of the utilities provider’s stock valued at $2,061,000 after purchasing an additional 4,152 shares during the last quarter. Marshall Wace North America L.P. increased its position in shares of WEC Energy Group by 493.4% during the 2nd quarter. Marshall Wace North America L.P. now owns 57,675 shares of the utilities provider’s stock valued at $3,518,000 after purchasing an additional 47,955 shares during the last quarter. Finally, Swiss National Bank increased its position in shares of WEC Energy Group by 2.2% during the 2nd quarter. Swiss National Bank now owns 1,720,581 shares of the utilities provider’s stock valued at $105,609,000 after purchasing an additional 37,600 shares during the last quarter. 71.09% of the stock is currently owned by hedge funds and other institutional investors.
WEC Energy Group (NYSE WEC) traded up $0.08 during trading hours on Monday, reaching $68.27. The company’s stock had a trading volume of 804,200 shares, compared to its average volume of 1,641,017. The company has a current ratio of 0.60, a quick ratio of 0.38 and a debt-to-equity ratio of 0.96. WEC Energy Group has a 1-year low of $54.96 and a 1-year high of $70.09. The company has a market cap of $21,570.00, a P/E ratio of 22.43, a price-to-earnings-growth ratio of 4.13 and a beta of 0.15.
WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Thursday, October 26th. The utilities provider reported $0.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.01. WEC Energy Group had a return on equity of 10.62% and a net margin of 12.79%. The business had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the previous year, the company posted $0.69 EPS. The company’s revenue was down 3.2% compared to the same quarter last year. equities research analysts expect that WEC Energy Group will post 3.09 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Tuesday, November 14th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 3.05%. The ex-dividend date is Monday, November 13th. WEC Energy Group’s dividend payout ratio is currently 68.42%.
About WEC Energy Group
WEC Energy Group, Inc was a diversified holding company with natural gas and electric utility operations, an approximately 60% equity ownership interest in American Transmission Company LLC, and non-utility electric operations through its We Power business, as of December 31, 2016. Its segments include Wisconsin; Illinois; Other States; Electric Transmission; We Power, and Corporate and Other.
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