Wall Street Zen upgraded shares of WEC Energy Group (NYSE:WEC – Free Report) from a sell rating to a hold rating in a report released on Sunday,Wall Street Zen reports.
A number of other research analysts also recently commented on WEC. Barclays cut their target price on shares of WEC Energy Group from $117.00 to $108.00 and set an “equal weight” rating on the stock in a research report on Monday, October 19th. Royal Bank Of Canada lowered their price target on shares of WEC Energy Group from $124.00 to $122.00 and set a “sector perform” rating for the company in a research report on Monday, October 26th. BMO Capital Markets reiterated a “market perform” rating and set a $117.00 price objective (down from $120.00) on shares of WEC Energy Group in a research note on Friday, October 16th. JPMorgan Chase & Co. cut their price objective on shares of WEC Energy Group from $121.00 to $116.00 and set a “neutral” rating on the stock in a report on Tuesday, October 13th. Finally, The Goldman Sachs Group reduced their price objective on shares of WEC Energy Group from $110.00 to $107.00 in a research note on Thursday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $117.88.
Check Out Our Latest Report on WEC Energy Group
WEC Energy Group Stock Down 0.2%
Shares of NYSE:WEC opened at $116.93 on Friday. WEC Energy Group has a 1 year low of $99.80 and a 1 year high of $120.15. The business has a 50 day simple moving average of $107.29 and a two-hundred day simple moving average of $111.74. The firm has a market capitalization of $38.47 billion, a PE ratio of 19.66, a price-to-earnings-growth ratio of 2.41 and a beta of 0.43. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.53 and a quick ratio of 0.36.
WEC Energy Group (NYSE:WEC – Get Free Report) last released its earnings results on Thursday, October 29th. The utilities provider reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.21. WEC Energy Group had a return on equity of 13.49% and a net margin of 17.54%. The firm had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter in the prior year, the firm posted $0.83 earnings per share. The company’s quarterly revenue was up 8.9% on a year-over-year basis. On average, equities analysts predict that WEC Energy Group will post 5.61 EPS for the current year.
WEC Energy Group Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 13th will be issued a $0.9525 dividend. The ex-dividend date is Friday, November 13th. This represents a $3.81 dividend on an annualized basis and a yield of 3.3%. WEC Energy Group’s payout ratio is currently 69.15%.
Institutional Trading of WEC Energy Group
A number of institutional investors have recently modified their holdings of the company. Private Advisor Group LLC raised its stake in WEC Energy Group by 44.3% in the third quarter. Private Advisor Group LLC now owns 35,632 shares of the utilities provider’s stock valued at $3,591,000 after buying an additional 10,940 shares in the last quarter. Landscape Capital Management L.L.C. purchased a new stake in WEC Energy Group during the 3rd quarter worth about $515,000. Public Sector Pension Investment Board boosted its position in shares of WEC Energy Group by 97.4% during the 3rd quarter. Public Sector Pension Investment Board now owns 183,596 shares of the utilities provider’s stock worth $19,458,000 after acquiring an additional 90,589 shares in the last quarter. South Dakota Investment Council acquired a new position in shares of WEC Energy Group during the 3rd quarter worth about $884,000. Finally, Rothschild Investment LLC acquired a new position in shares of WEC Energy Group during the 3rd quarter worth about $2,730,000. 77.20% of the stock is currently owned by institutional investors.
WEC Energy Group Company Profile
WEC Energy Group is a regulated energy holding company based in Milwaukee, Wisconsin. Through its subsidiaries, it generates, transmits and distributes electricity and provides natural gas service to residential, commercial and industrial customers. The company’s utility operations serve communities across Wisconsin, Illinois, Michigan and Minnesota. Its businesses include electric and gas utilities, as well as natural gas storage and related energy services. WEC Energy Group adopted its current name in 2015, following the combination of Wisconsin Energy Corporation and Integrys Energy Group.
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