WEC Energy Group, Inc. (NYSE:WEC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.

According to Zacks, “Shares of WEC Energy have outperformed the industry in the last twelve months. Thanks to ongoing improvement in economic conditions in its service territories, WEC Energy at present is serving more customers than the year-ago level. Also, more than 99% of its earnings come from regulated operations, which provided excellent visibility on its future performance. WEC Energy Group’s investments in infrastructure projects will help it to meet increasing customer demand and improve service reliability. However, in first-half 2017 electricity delivered to residential customers and large commercial and industrial customers declined from the year-ago period. Regulatory compliance and any delay in the completion of ongoing capital projects could increase expenses and reduce profitability.”

Several other research firms have also issued reports on WEC. BidaskClub raised shares of WEC Energy Group from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. Goldman Sachs Group, Inc. (The) reissued a “sell” rating and issued a $58.00 price objective (down previously from $59.00) on shares of WEC Energy Group in a research report on Monday, June 26th. Finally, Ladenburg Thalmann Financial Services increased their price objective on shares of WEC Energy Group from $62.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday, June 9th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $62.86.

Shares of WEC Energy Group (NYSE WEC) traded up 0.26% during mid-day trading on Monday, hitting $65.27. The company had a trading volume of 491,060 shares. WEC Energy Group has a 52-week low of $53.66 and a 52-week high of $65.46. The firm has a market capitalization of $20.60 billion, a price-to-earnings ratio of 21.40 and a beta of 0.11. The firm has a 50-day moving average price of $63.25 and a 200 day moving average price of $61.46.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Wednesday, July 26th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.05. WEC Energy Group had a net margin of 12.72% and a return on equity of 10.75%. The company had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the prior year, the business earned $0.57 earnings per share. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. Analysts expect that WEC Energy Group will post $3.11 earnings per share for the current year.

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In other news, VP Scott J. Lauber sold 1,500 shares of the company’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $65.00, for a total value of $97,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gale E. Klappa sold 100,500 shares of the company’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $64.42, for a total transaction of $6,474,210.00. The disclosure for this sale can be found here. Insiders sold 177,190 shares of company stock valued at $11,445,484 over the last 90 days. Insiders own 0.97% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Oakworth Capital Inc. increased its position in shares of WEC Energy Group by 8.8% in the second quarter. Oakworth Capital Inc. now owns 1,632 shares of the utilities provider’s stock valued at $100,000 after buying an additional 132 shares during the period. Trust Co. of Vermont increased its position in shares of WEC Energy Group by 12.1% in the first quarter. Trust Co. of Vermont now owns 1,737 shares of the utilities provider’s stock valued at $106,000 after buying an additional 187 shares during the period. Delphi Private Advisors LLC increased its position in shares of WEC Energy Group by 182.3% in the second quarter. Delphi Private Advisors LLC now owns 1,976 shares of the utilities provider’s stock valued at $120,000 after buying an additional 1,276 shares during the period. Country Trust Bank increased its position in shares of WEC Energy Group by 5.7% in the second quarter. Country Trust Bank now owns 2,066 shares of the utilities provider’s stock valued at $127,000 after buying an additional 112 shares during the period. Finally, Captrust Financial Advisors purchased a new position in shares of WEC Energy Group during the second quarter valued at $132,000. Institutional investors and hedge funds own 70.76% of the company’s stock.

WEC Energy Group Company Profile

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.

Analyst Recommendations for WEC Energy Group (NYSE:WEC)

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