WEC Energy Group (NYSE:WEC) Downgraded by Wall Street Zen to “Sell”

Wall Street Zen lowered shares of WEC Energy Group (NYSE:WEC) from a hold rating to a sell rating in a research report released on Saturday morning.

A number of other research analysts also recently weighed in on the company. Wells Fargo & Company initiated coverage on WEC Energy Group in a research note on Monday, October 27th. They issued an “overweight” rating and a $124.00 price objective on the stock. Royal Bank Of Canada set a $131.00 target price on WEC Energy Group in a report on Monday, October 27th. Scotiabank lifted their price objective on WEC Energy Group from $129.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of WEC Energy Group in a research note on Wednesday, October 8th. Finally, Barclays boosted their price target on WEC Energy Group from $100.00 to $110.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 21st. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, WEC Energy Group currently has an average rating of “Moderate Buy” and an average target price of $120.21.

WEC Energy Group Stock Down 0.8%

WEC opened at $111.74 on Friday. WEC Energy Group has a fifty-two week low of $91.94 and a fifty-two week high of $118.18. The business has a 50-day moving average of $111.92 and a 200-day moving average of $108.68. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.50 and a quick ratio of 0.40. The company has a market capitalization of $35.97 billion, a PE ratio of 21.12, a price-to-earnings-growth ratio of 3.15 and a beta of 0.47.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings results on Tuesday, September 2nd. The utilities provider reported $1.43 earnings per share for the quarter. WEC Energy Group had a return on equity of 12.60% and a net margin of 17.75%.The company had revenue of $2.28 billion during the quarter. Equities research analysts forecast that WEC Energy Group will post 5.23 EPS for the current fiscal year.

WEC Energy Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be given a dividend of $0.8925 per share. The ex-dividend date is Friday, November 14th. This represents a $3.57 dividend on an annualized basis and a dividend yield of 3.2%. WEC Energy Group’s payout ratio is presently 67.49%.

Insider Transactions at WEC Energy Group

In related news, CEO Scott J. Lauber sold 9,231 shares of WEC Energy Group stock in a transaction on Friday, August 8th. The stock was sold at an average price of $110.88, for a total transaction of $1,023,533.28. Following the completion of the sale, the chief executive officer directly owned 56,443 shares of the company’s stock, valued at $6,258,399.84. The trade was a 14.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ulice Payne, Jr. sold 1,620 shares of WEC Energy Group stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $111.00, for a total value of $179,820.00. Following the sale, the director directly owned 20,360 shares of the company’s stock, valued at approximately $2,259,960. This trade represents a 7.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 22,741 shares of company stock worth $2,523,854. Insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Truvestments Capital LLC acquired a new position in WEC Energy Group in the first quarter valued at about $25,000. Nova Wealth Management Inc. bought a new stake in WEC Energy Group during the first quarter worth about $26,000. Bayforest Capital Ltd bought a new stake in WEC Energy Group during the second quarter worth about $26,000. CoreFirst Bank & Trust bought a new stake in WEC Energy Group during the second quarter worth about $26,000. Finally, Osterweis Capital Management Inc. bought a new stake in WEC Energy Group during the second quarter worth about $27,000. 77.20% of the stock is owned by institutional investors and hedge funds.

WEC Energy Group Company Profile

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and renewable and nonregulated renewable energy services in the United States. It operates through Wisconsin, Illinois, Other States, Electric Transmission, and Non-Utility Energy Infrastructure segments.