WEC Energy Group (NYSE:WEC) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of WEC Energy Group (NYSE:WEC – Free Report) from a hold rating to a sell rating in a report issued on Saturday,Wall Street Zen reports.

Other equities research analysts have also recently issued research reports about the stock. Scotiabank boosted their price target on shares of WEC Energy Group from $117.00 to $128.00 and gave the stock a “sector outperform” rating in a research report on Friday. Barclays lowered their price objective on shares of WEC Energy Group from $117.00 to $108.00 and set an “equal weight” rating for the company in a research report on Monday, October 19th. Jefferies Financial Group dropped their price objective on shares of WEC Energy Group from $120.00 to $116.00 and set a “hold” rating for the company in a research note on Wednesday, October 21st. Truist Financial reduced their target price on shares of WEC Energy Group from $114.00 to $113.00 and set a “hold” rating on the stock in a report on Friday, October 16th. Finally, BMO Capital Markets restated a “market perform” rating and issued a $117.00 target price (down from $120.00) on shares of WEC Energy Group in a report on Friday, October 16th. Eight research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $118.00.

Read Our Latest Research Report on WEC Energy Group

WEC Energy Group Stock Performance

NYSE WEC opened at $117.03 on Friday. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.53 and a quick ratio of 0.39. WEC Energy Group has a 1-year low of $99.80 and a 1-year high of $119.91. The business has a 50 day simple moving average of $106.06 and a two-hundred day simple moving average of $111.49. The stock has a market capitalization of $38.13 billion, a PE ratio of 19.70, a P/E/G ratio of 2.28 and a beta of 0.45.

WEC Energy Group (NYSE:WEC – Get Free Report) last issued its quarterly earnings data on Thursday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.21. The business had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.27 billion. WEC Energy Group had a return on equity of 12.90% and a net margin of 16.69%. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.83 EPS. On average, research analysts predict that WEC Energy Group will post 5.61 EPS for the current fiscal year.

WEC Energy Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Friday, November 13th will be given 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 dividend payout ratio (DPR) is currently 69.15%.

Insider Buying and Selling

In other WEC Energy Group news, Director Ulice Payne, Jr. sold 980 shares of WEC Energy Group stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $105.58, for a total transaction of $103,468.40. Following the completion of the transaction, the director directly owned 19,588 shares of the company’s stock, valued at $2,068,101.04. The trade was a 4.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.46% of the stock is owned by insiders.

Institutional Investors Weigh In On WEC Energy Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Diversify Advisory Services LLC lifted its stake in shares of WEC Energy Group by 2.0% during the third quarter. Diversify Advisory Services LLC now owns 5,076 shares of the utilities provider’s stock worth $538,000 after buying an additional 98 shares during the period. WPG Advisers LLC grew its holdings in shares of WEC Energy Group by 37.2% during the third quarter. WPG Advisers LLC now owns 365 shares of the utilities provider’s stock valued at $37,000 after buying an additional 99 shares during the last quarter. Integrity Alliance LLC. grew its holdings in shares of WEC Energy Group by 2.2% during the third quarter. Integrity Alliance LLC. now owns 4,818 shares of the utilities provider’s stock valued at $486,000 after buying an additional 103 shares during the last quarter. Hibernia Wealth Partners LLC increased its position in shares of WEC Energy Group by 3.3% in the 1st quarter. Hibernia Wealth Partners LLC now owns 3,367 shares of the utilities provider’s stock valued at $390,000 after acquiring an additional 106 shares during the period. Finally, Gryphon Financial Partners LLC increased its position in shares of WEC Energy Group by 4.0% in the 1st quarter. Gryphon Financial Partners LLC now owns 3,056 shares of the utilities provider’s stock valued at $354,000 after acquiring an additional 118 shares during the period. Hedge funds and other institutional investors own 77.20% of the company’s stock.

About WEC Energy Group

(Get Free Report)

WEC Energy Group, Inc is an energy holding company headquartered in Milwaukee, Wisconsin. Through its operating companies, the company generates and delivers electricity and provides natural gas distribution, storage and related energy services to residential, commercial and industrial customers.

WEC Energy’s principal utility businesses include We Energies and Wisconsin Public Service in Wisconsin, Michigan Gas Utilities, Minnesota Energy Resources, Upper Michigan Energy Resources and North Dakota utility operations.

Further Reading

Analyst Recommendations for WEC Energy Group (NYSE:WEC)

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