WEC Energy Group (NYSE:WEC) Reaches New 12-Month High – What’s Next?

WEC Energy Group, Inc. (NYSE:WEC) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $107.17 and last traded at $107.49, with a volume of 84151 shares traded. The stock had previously closed at $106.69.

Analyst Upgrades and Downgrades

Several analysts have issued reports on WEC shares. Wells Fargo & Company upped their price target on shares of WEC Energy Group from $112.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. Scotiabank upped their price target on shares of WEC Energy Group from $103.00 to $110.00 and gave the stock a “sector outperform” rating in a research report on Monday, December 9th. BMO Capital Markets upped their price target on shares of WEC Energy Group from $95.00 to $100.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 5th. Bank of America upgraded shares of WEC Energy Group from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $90.00 to $98.00 in a report on Thursday, December 12th. Finally, KeyCorp upped their price objective on shares of WEC Energy Group from $108.00 to $109.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $101.88.

WEC Energy Group Price Performance

The company has a quick ratio of 0.43, a current ratio of 0.60 and a debt-to-equity ratio of 1.37. The company’s 50 day moving average is $98.94 and its 200 day moving average is $97.04. The firm has a market capitalization of $34.18 billion, a price-to-earnings ratio of 22.27, a P/E/G ratio of 2.60 and a beta of 0.49.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Tuesday, February 4th. The utilities provider reported $1.43 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.06). WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. The business had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same quarter last year, the company posted $1.10 earnings per share. The company’s revenue was up 3.0% on a year-over-year basis. On average, equities research analysts anticipate that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

WEC Energy Group Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Friday, February 14th were issued a $0.835 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.10%. WEC Energy Group’s dividend payout ratio (DPR) is currently 73.91%.

Insider Transactions at WEC Energy Group

In related news, Director Ulice Payne, Jr. sold 1,150 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $104.17, for a total value of $119,795.50. Following the completion of the transaction, the director now owns 21,951 shares in the company, valued at $2,286,635.67. This trade represents a 4.98 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.34% of the company’s stock.

Institutional Trading of WEC Energy Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in WEC Energy Group during the 4th quarter valued at approximately $11,596,000. Talaria Asset Management Pty Ltd acquired a new stake in shares of WEC Energy Group during the 4th quarter worth approximately $53,970,000. LifeWealth Investments LLC acquired a new stake in shares of WEC Energy Group during the 4th quarter worth approximately $200,000. Heck Capital Advisors LLC acquired a new stake in shares of WEC Energy Group during the 4th quarter worth approximately $1,139,000. Finally, Great Valley Advisor Group Inc. grew its position in shares of WEC Energy Group by 12.5% during the 4th quarter. Great Valley Advisor Group Inc. now owns 47,517 shares of the utilities provider’s stock worth $4,468,000 after buying an additional 5,289 shares during the period. Institutional investors and hedge funds own 77.20% of the company’s stock.

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.