Shares of WEC Energy Group Inc. (NYSE:WEC) have been given an average recommendation of “Hold” by the ten analysts that are currently covering the company. Seven research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $58.25.
A number of equities research analysts have recently weighed in on the stock. Argus restated a “buy” rating and issued a $70.00 price objective (up from $65.00) on shares of WEC Energy Group in a report on Tuesday, August 2nd. Zacks Investment Research upgraded shares of WEC Energy Group from a “sell” rating to a “hold” rating in a report on Friday, September 23rd.
WEC Energy Group (NYSE:WEC) opened at 61.31 on Monday. The company has a market capitalization of $19.35 billion, a PE ratio of 21.89 and a beta of 0.10. The company has a 50-day moving average price of $61.08 and a 200-day moving average price of $61.08. WEC Energy Group has a one year low of $47.98 and a one year high of $66.10.
WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.01. WEC Energy Group had a net margin of 12.13% and a return on equity of 10.52%. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period last year, the business earned $0.58 EPS. The company’s revenue was up 61.7% on a year-over-year basis. Analysts expect that WEC Energy Group will post $2.93 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Friday, August 12th were given a dividend of $0.495 per share. This represents a $1.98 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend was Wednesday, August 10th. WEC Energy Group’s payout ratio is currently 70.46%.
In other WEC Energy Group news, VP Susan H. Martin sold 40,000 shares of the firm’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $65.05, for a total transaction of $2,602,000.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Robert M. Garvin sold 19,225 shares of the firm’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $61.62, for a total transaction of $1,184,644.50. Following the transaction, the executive vice president now directly owns 27,710 shares in the company, valued at $1,707,490.20. The disclosure for this sale can be found here. Company insiders own 0.81% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Prudential Financial Inc. increased its stake in shares of WEC Energy Group by 2.6% in the first quarter. Prudential Financial Inc. now owns 414,971 shares of the company’s stock valued at $24,927,000 after buying an additional 10,600 shares during the last quarter. Stratos Wealth Partners LTD. increased its stake in shares of WEC Energy Group by 173.0% in the first quarter. Stratos Wealth Partners LTD. now owns 22,802 shares of the company’s stock valued at $1,370,000 after buying an additional 14,449 shares during the last quarter. Teachers Advisors Inc. increased its stake in shares of WEC Energy Group by 15.8% in the first quarter. Teachers Advisors Inc. now owns 441,452 shares of the company’s stock valued at $26,518,000 after buying an additional 60,274 shares during the last quarter. Ngam Advisors L.P. increased its stake in shares of WEC Energy Group by 26.4% in the first quarter. Ngam Advisors L.P. now owns 32,589 shares of the company’s stock valued at $1,958,000 after buying an additional 6,807 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. increased its stake in shares of WEC Energy Group by 14.7% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 64,772 shares of the company’s stock valued at $3,891,000 after buying an additional 8,305 shares during the last quarter. 70.65% of the stock is currently owned by institutional investors.
WEC Energy Group Company Profile
WEC Energy Group, Inc, formerly Wisconsin Energy Corporation, is a holding company, which has electric and natural gas utility operations. The Company’s segments are Wisconsin, Illinois, other states, electric transmission, We Power, and corporate and other. The Company’s Wisconsin segment includes the electric and natural gas utility, and non-utility operations of Wisconsin Electric Power Company (Wisconsin Electric), Wisconsin Gas LLC (Wisconsin Gas) and Wisconsin Public Service Corporation (WPS), including Wisconsin Electric’s electric and WPS’s electric and natural gas operations in the state of Michigan.
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