WEC Energy Group (NYSE:WEC) had its price objective increased by investment analysts at Argus from $100.00 to $105.00 in a research note issued to investors on Tuesday, The Fly reports. The brokerage currently has a “buy” rating on the utilities provider’s stock. Argus’ price objective indicates a potential upside of 6.30% from the stock’s previous close.
Several other analysts also recently weighed in on WEC. JPMorgan Chase & Co. reduced their price objective on shares of WEC Energy Group from $95.00 to $87.00 and set a “neutral” rating for the company in a research report on Wednesday, May 27th. Zacks Investment Research raised shares of WEC Energy Group from a “hold” rating to a “buy” rating and set a $97.00 price target on the stock in a research note on Monday, June 1st. UBS Group lowered their price target on shares of WEC Energy Group from $93.00 to $91.00 and set a “neutral” rating on the stock in a research note on Monday, June 22nd. Atlantic Securities initiated coverage on shares of WEC Energy Group in a research note on Friday, September 4th. They set an “overweight” rating and a $112.00 price target on the stock. Finally, KeyCorp increased their price objective on shares of WEC Energy Group from $99.00 to $102.00 and gave the company an “overweight” rating in a research note on Friday, September 11th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. WEC Energy Group presently has an average rating of “Hold” and an average target price of $91.25.
NYSE WEC opened at $98.78 on Tuesday. The company has a quick ratio of 0.36, a current ratio of 0.49 and a debt-to-equity ratio of 1.02. WEC Energy Group has a 52 week low of $68.01 and a 52 week high of $109.53. The stock has a market capitalization of $31.16 billion, a PE ratio of 26.70, a price-to-earnings-growth ratio of 4.34 and a beta of 0.16. The firm has a 50 day moving average of $94.08 and a two-hundred day moving average of $91.73.
WEC Energy Group (NYSE:WEC) last posted its quarterly earnings results on Tuesday, August 4th. The utilities provider reported $0.76 EPS for the quarter, topping the consensus estimate of $0.69 by $0.07. WEC Energy Group had a net margin of 16.26% and a return on equity of 11.36%. The company had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter in the previous year, the business posted $0.74 EPS. The firm’s revenue was down 2.6% on a year-over-year basis. On average, equities research analysts expect that WEC Energy Group will post 3.75 earnings per share for the current fiscal year.
In other WEC Energy Group news, CEO Charles R. Matthews sold 14,481 shares of the company’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $95.05, for a total value of $1,376,419.05. Following the transaction, the chief executive officer now directly owns 16,223 shares in the company, valued at approximately $1,541,996.15. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.31% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the company. Woodley Farra Manion Portfolio Management Inc. lifted its holdings in shares of WEC Energy Group by 1.3% during the 2nd quarter. Woodley Farra Manion Portfolio Management Inc. now owns 43,142 shares of the utilities provider’s stock worth $3,781,000 after acquiring an additional 547 shares during the period. Viking Fund Management LLC lifted its holdings in shares of WEC Energy Group by 9.8% during the 2nd quarter. Viking Fund Management LLC now owns 45,000 shares of the utilities provider’s stock worth $3,944,000 after acquiring an additional 4,000 shares during the period. OPSEU Pension Plan Trust Fund purchased a new position in shares of WEC Energy Group during the 1st quarter worth about $2,084,000. Dai Ichi Life Insurance Company Ltd lifted its holdings in shares of WEC Energy Group by 5.0% during the 2nd quarter. Dai Ichi Life Insurance Company Ltd now owns 89,863 shares of the utilities provider’s stock worth $7,876,000 after acquiring an additional 4,304 shares during the period. Finally, Advisory Services Network LLC lifted its holdings in shares of WEC Energy Group by 1.8% during the 2nd quarter. Advisory Services Network LLC now owns 7,157 shares of the utilities provider’s stock worth $627,000 after acquiring an additional 125 shares during the period. Institutional investors and hedge funds own 73.05% of the company’s stock.
WEC Energy Group Company Profile
WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and nonregulated renewable energy services in the United States. The company operates through six segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure, and Corporate and Other.
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