WEC Energy Group Inc (WEC) Receives $66.00 Average Target Price from Analysts
Shares of WEC Energy Group Inc (NYSE:WEC) have been assigned a consensus recommendation of “Hold” from the thirteen analysts that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $66.00.
Several analysts recently commented on WEC shares. Credit Suisse Group started coverage on WEC Energy Group in a report on Thursday, December 7th. They set a “neutral” rating and a $70.00 target price on the stock. Zacks Investment Research raised WEC Energy Group from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a report on Saturday, January 6th. Bank of America raised their target price on WEC Energy Group from $69.00 to $71.00 and gave the stock a “neutral” rating in a report on Wednesday, November 15th. Wells Fargo & Co dropped their target price on WEC Energy Group from $73.00 to $71.00 and set a “market perform” rating on the stock in a report on Thursday, February 1st. Finally, UBS Group started coverage on WEC Energy Group in a report on Friday, February 2nd. They issued a “neutral” rating and a $65.00 price objective on the stock.
WEC Energy Group (NYSE WEC) traded down $0.16 during trading on Wednesday, reaching $59.47. The company had a trading volume of 1,957,129 shares, compared to its average volume of 2,090,000. The firm has a market capitalization of $18,770.00, a price-to-earnings ratio of 18.94, a price-to-earnings-growth ratio of 4.28 and a beta of 0.12. WEC Energy Group has a 12-month low of $58.04 and a 12-month high of $70.09. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.43 and a current ratio of 0.57.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 1st. Shareholders of record on Wednesday, February 14th were issued a $0.5525 dividend. This is a positive change from WEC Energy Group’s previous quarterly dividend of $0.52. This represents a $2.21 annualized dividend and a yield of 3.72%. The ex-dividend date was Tuesday, February 13th. WEC Energy Group’s dividend payout ratio (DPR) is presently 70.38%.
In other WEC Energy Group news, Director Barbara L. Bowles sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $60.19, for a total value of $120,380.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.97% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Cable Hill Partners LLC grew its holdings in WEC Energy Group by 3,307.8% in the third quarter. Cable Hill Partners LLC now owns 1,738 shares of the utilities provider’s stock valued at $109,000 after purchasing an additional 1,687 shares during the period. Advisory Services Network LLC lifted its position in shares of WEC Energy Group by 157.2% in the fourth quarter. Advisory Services Network LLC now owns 1,690 shares of the utilities provider’s stock valued at $112,000 after acquiring an additional 1,033 shares in the last quarter. Financial Gravity Companies Inc. purchased a new position in shares of WEC Energy Group in the fourth quarter valued at approximately $122,000. Hanson & Doremus Investment Management purchased a new position in shares of WEC Energy Group in the fourth quarter valued at approximately $133,000. Finally, Calton & Associates Inc. purchased a new position in shares of WEC Energy Group in the fourth quarter valued at approximately $175,000. 72.92% of the stock is currently owned by institutional investors.
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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