WEC Energy Group (NYSE:WEC) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of WEC Energy Group (NYSE:WEC) from a sell rating to a hold rating in a research note published on Thursday.

WEC has been the topic of several other reports. The Goldman Sachs Group assumed coverage on shares of WEC Energy Group in a research report on Wednesday, April 10th. They set a neutral rating and a $88.00 price target on the stock. Scotiabank cut their price target on shares of WEC Energy Group from $96.00 to $90.00 and set a sector outperform rating on the stock in a research report on Monday, April 22nd. JPMorgan Chase & Co. cut shares of WEC Energy Group from a neutral rating to an underweight rating and cut their price target for the stock from $90.00 to $84.00 in a research report on Friday, February 2nd. KeyCorp boosted their price target on shares of WEC Energy Group from $95.00 to $96.00 and gave the stock an overweight rating in a research report on Friday, April 19th. Finally, Royal Bank of Canada cut their price objective on WEC Energy Group from $95.00 to $90.00 and set a sector perform rating for the company in a research report on Thursday, February 8th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $86.29.

WEC Energy Group Stock Down 0.2 %

WEC traded down $0.15 during trading on Thursday, hitting $85.43. The company had a trading volume of 2,226,079 shares, compared to its average volume of 1,839,917. The company has a market capitalization of $26.98 billion, a PE ratio of 18.65, a PEG ratio of 2.45 and a beta of 0.40. WEC Energy Group has a one year low of $75.13 and a one year high of $94.96. The firm’s 50-day moving average price is $81.38 and its 200 day moving average price is $81.52. The company has a quick ratio of 0.42, a current ratio of 0.55 and a debt-to-equity ratio of 1.24.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $1.97 EPS for the quarter, beating the consensus estimate of $1.90 by $0.07. The business had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.92 billion. WEC Energy Group had a net margin of 16.67% and a return on equity of 13.01%. The firm’s revenue was down 7.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.61 EPS. As a group, equities analysts expect that WEC Energy Group will post 4.87 earnings per share for the current year.

WEC Energy Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Tuesday, May 14th will be issued a dividend of $0.835 per share. The ex-dividend date is Monday, May 13th. This represents a $3.34 annualized dividend and a dividend yield of 3.91%. WEC Energy Group’s dividend payout ratio is presently 72.93%.

Insider Activity at WEC Energy Group

In other WEC Energy Group news, Chairman Gale E. Klappa sold 37,180 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $78.69, for a total transaction of $2,925,694.20. Following the transaction, the chairman now owns 274,782 shares in the company, valued at approximately $21,622,595.58. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Scott J. Lauber sold 2,830 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $78.89, for a total value of $223,258.70. Following the transaction, the chief executive officer now owns 43,125 shares in the company, valued at $3,402,131.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Gale E. Klappa sold 37,180 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $78.69, for a total value of $2,925,694.20. Following the completion of the transaction, the chairman now owns 274,782 shares in the company, valued at approximately $21,622,595.58. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Northwest Bank & Trust Co acquired a new position in WEC Energy Group during the 4th quarter worth about $25,000. Opal Wealth Advisors LLC bought a new stake in WEC Energy Group during the 1st quarter valued at $25,000. Tennessee Valley Asset Management Partners bought a new stake in shares of WEC Energy Group in the 4th quarter worth $26,000. Valued Wealth Advisors LLC bought a new stake in shares of WEC Energy Group in the 4th quarter worth $28,000. Finally, First United Bank & Trust purchased a new position in shares of WEC Energy Group in the 4th quarter worth about $30,000. Institutional investors 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.