WEC Energy Group (NYSE:WEC) Price Target Increased to $98.00 by Analysts at KeyCorp

WEC Energy Group (NYSE:WEC) had its price objective raised by KeyCorp from $95.00 to $98.00 in a research note released on Monday morning, Benzinga reports. KeyCorp currently has an overweight rating on the utilities provider’s stock.

A number of other brokerages have also issued reports on WEC. BMO Capital Markets increased their price target on WEC Energy Group from $91.00 to $93.00 and gave the company a market perform rating in a research note on Friday, August 23rd. Scotiabank lifted their target price on WEC Energy Group from $90.00 to $103.00 and gave the stock a sector outperform rating in a report on Tuesday, August 20th. Wells Fargo & Company boosted their price target on shares of WEC Energy Group from $98.00 to $103.00 and gave the stock an overweight rating in a research report on Wednesday, August 21st. Barclays raised their price objective on shares of WEC Energy Group from $80.00 to $86.00 and gave the company an underweight rating in a research report on Tuesday, August 6th. Finally, StockNews.com downgraded shares of WEC Energy Group from a hold rating to a sell rating in a report on Friday, August 9th. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $90.42.

WEC Energy Group Price Performance

Shares of NYSE WEC opened at $95.25 on Monday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.74 and a quick ratio of 0.54. The firm has a market capitalization of $30.08 billion, a PE ratio of 20.80, a P/E/G ratio of 2.47 and a beta of 0.44. WEC Energy Group has a 1-year low of $75.13 and a 1-year high of $96.65. The business’s fifty day moving average price is $89.21 and its two-hundred day moving average price is $83.75.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. WEC Energy Group had a return on equity of 12.26% and a net margin of 15.85%. The business had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same period in the prior year, the company posted $0.92 EPS. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, research analysts expect that WEC Energy Group will post 4.88 EPS for the current year.

WEC Energy Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 14th were issued a dividend of $0.835 per share. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.51%. WEC Energy Group’s dividend payout ratio is 72.93%.

Insider Activity at WEC Energy Group

In other WEC Energy Group news, VP Mary Beth Straka sold 3,240 shares of WEC Energy Group stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $93.04, for a total transaction of $301,449.60. Following the transaction, the vice president now owns 3,662 shares of the company’s stock, valued at approximately $340,712.48. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Ulice Payne, Jr. sold 750 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $88.45, for a total value of $66,337.50. Following the transaction, the director now directly owns 21,876 shares of the company’s stock, valued at $1,934,932.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Mary Beth Straka sold 3,240 shares of WEC Energy Group stock in a transaction on Friday, August 30th. The shares were sold at an average price of $93.04, for a total value of $301,449.60. Following the sale, the vice president now directly owns 3,662 shares of the company’s stock, valued at approximately $340,712.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,702 shares of company stock valued at $1,078,058. Company insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On WEC Energy Group

A number of hedge funds and other institutional investors have recently made changes to their positions in WEC. Northwest Bank & Trust Co acquired a new position in WEC Energy Group in the fourth quarter worth approximately $25,000. Opal Wealth Advisors LLC acquired a new position in shares of WEC Energy Group during the 1st quarter worth $25,000. Global X Japan Co. Ltd. raised its holdings in shares of WEC Energy Group by 58.1% during the 2nd quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 118 shares in the last quarter. Olistico Wealth LLC bought a new position in shares of WEC Energy Group during the 2nd quarter valued at $29,000. Finally, William B. Walkup & Associates Inc. acquired a new stake in shares of WEC Energy Group in the 2nd quarter valued at $31,000. 77.20% of the stock is owned by hedge funds and other institutional investors.

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.