Credit Suisse Group Begins Coverage on WEC Energy Group (WEC)

Credit Suisse Group began coverage on shares of WEC Energy Group (NYSE:WEC) in a report released on Thursday. The brokerage set a “neutral” rating on the utilities provider’s stock.

Other equities research analysts have also recently issued reports about the company. BidaskClub upgraded WEC Energy Group from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. Zacks Investment Research upgraded WEC Energy Group from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Friday, October 27th. KeyCorp reiterated a “hold” rating on shares of WEC Energy Group in a report on Friday, October 20th. Finally, Bank of America increased their price objective on WEC Energy Group from $69.00 to $71.00 and gave the stock a “neutral” rating in a report on Wednesday, November 15th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $65.43.

WEC Energy Group (WEC) opened at $68.42 on Thursday. The company has a current ratio of 0.60, a quick ratio of 0.38 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $21,642.18, a PE ratio of 22.56, a PEG ratio of 4.16 and a beta of 0.15. WEC Energy Group has a 1 year low of $55.57 and a 1 year high of $70.09.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data on Thursday, October 26th. The utilities provider reported $0.68 EPS for the quarter, beating the consensus estimate of $0.67 by $0.01. The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.68 billion. WEC Energy Group had a return on equity of 10.62% and a net margin of 12.79%. The company’s revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.69 EPS. sell-side analysts anticipate that WEC Energy Group will post 3.09 earnings per share for the current fiscal year.

In other news, Chairman Gale E. Klappa sold 52,722 shares of the stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $69.40, for a total value of $3,658,906.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Scott J. Lauber sold 1,240 shares of the stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $70.00, for a total value of $86,800.00. The disclosure for this sale can be found here. 0.97% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in the company. Hudock Capital Group LLC increased its position in WEC Energy Group by 0.4% during the 2nd quarter. Hudock Capital Group LLC now owns 4,322 shares of the utilities provider’s stock valued at $265,000 after buying an additional 17 shares in the last quarter. MAI Capital Management increased its holdings in shares of WEC Energy Group by 1.1% in the 2nd quarter. MAI Capital Management now owns 4,210 shares of the utilities provider’s stock worth $258,000 after purchasing an additional 45 shares in the last quarter. Eaton Vance Management increased its holdings in shares of WEC Energy Group by 0.5% in the 2nd quarter. Eaton Vance Management now owns 12,090 shares of the utilities provider’s stock worth $742,000 after purchasing an additional 65 shares in the last quarter. Conning Inc. increased its holdings in shares of WEC Energy Group by 0.4% in the 2nd quarter. Conning Inc. now owns 18,498 shares of the utilities provider’s stock worth $1,135,000 after purchasing an additional 74 shares in the last quarter. Finally, Capital Advisors Inc. OK increased its holdings in shares of WEC Energy Group by 2.1% in the 2nd quarter. Capital Advisors Inc. OK now owns 3,705 shares of the utilities provider’s stock worth $227,000 after purchasing an additional 77 shares in the last quarter. 72.60% of the stock is owned by hedge funds and other institutional investors.

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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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