WEC Energy Group (NYSE:WEC) Hits New 1-Year High Following Analyst Upgrade

Shares of WEC Energy Group, Inc. (NYSE:WEC) reached a new 52-week high during trading on Tuesday after KeyCorp raised their price target on the stock from $98.00 to $103.00. KeyCorp currently has an overweight rating on the stock. WEC Energy Group traded as high as $96.94 and last traded at $96.85, with a volume of 539884 shares changing hands. The stock had previously closed at $96.18.

Several other equities research analysts have also recently weighed in on the stock. Barclays increased their price target on shares of WEC Energy Group from $80.00 to $86.00 and gave the company an “underweight” rating in a research report on Tuesday, August 6th. Jefferies Financial Group started coverage on shares of WEC Energy Group in a research report on Thursday, September 19th. They set a “hold” rating and a $102.00 price target for the company. Bank of America raised their target price on shares of WEC Energy Group from $88.00 to $90.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. Wells Fargo & Company lifted their price target on shares of WEC Energy Group from $98.00 to $103.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Finally, BMO Capital Markets lifted their price target on shares of WEC Energy Group from $91.00 to $93.00 and gave the stock a “market perform” rating in a research note on Friday, August 23rd. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $91.69.

Insider Transactions at WEC Energy Group

In other news, VP Mary Beth Straka sold 3,240 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $93.04, for a total value of $301,449.60. Following the transaction, the vice president now owns 3,662 shares of the company’s stock, valued at $340,712.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other WEC Energy Group news, VP Mary Beth Straka sold 3,240 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $93.04, for a total transaction of $301,449.60. Following the completion of the transaction, the vice president now owns 3,662 shares in the company, valued at $340,712.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Joshua M. Erickson sold 350 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $89.75, for a total transaction of $31,412.50. Following the transaction, the vice president now owns 2,377 shares of the company’s stock, valued at approximately $213,335.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,702 shares of company stock valued at $1,078,058. 0.34% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On WEC Energy Group

Several hedge funds and other institutional investors have recently made changes to their positions in WEC. Bradley Foster & Sargent Inc. CT increased its holdings in shares of WEC Energy Group by 2.0% during the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 6,047 shares of the utilities provider’s stock valued at $474,000 after purchasing an additional 117 shares in the last quarter. Global X Japan Co. Ltd. increased its holdings in WEC Energy Group by 58.1% in the 2nd quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 118 shares in the last quarter. Park National Corp OH increased its holdings in WEC Energy Group by 3.4% in the 3rd quarter. Park National Corp OH now owns 3,964 shares of the utilities provider’s stock worth $381,000 after acquiring an additional 130 shares in the last quarter. Diversified Trust Co increased its holdings in WEC Energy Group by 2.7% in the 1st quarter. Diversified Trust Co now owns 5,099 shares of the utilities provider’s stock worth $419,000 after acquiring an additional 134 shares in the last quarter. Finally, MPS Loria Financial Planners LLC increased its holdings in WEC Energy Group by 2.1% in the 1st quarter. MPS Loria Financial Planners LLC now owns 6,704 shares of the utilities provider’s stock worth $551,000 after acquiring an additional 135 shares in the last quarter. Hedge funds and other institutional investors own 77.20% of the company’s stock.

WEC Energy Group Stock Performance

The company has a market cap of $30.58 billion, a PE ratio of 21.12, a price-to-earnings-growth ratio of 2.45 and a beta of 0.44. The firm’s fifty day moving average is $91.70 and its 200 day moving average is $84.66. The company has a current ratio of 0.74, a quick ratio of 0.54 and a debt-to-equity ratio of 1.37.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.67 EPS for the quarter, topping the consensus estimate of $0.63 by $0.04. The company had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.87 billion. WEC Energy Group had a net margin of 15.85% and a return on equity of 12.26%. The firm’s revenue was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.92 EPS. As a group, research analysts predict that WEC Energy Group, Inc. will post 4.87 EPS for the current fiscal year.

WEC Energy Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 14th were paid a dividend of $0.835 per share. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $3.34 annualized dividend and a yield of 3.45%. WEC Energy Group’s dividend payout ratio (DPR) is presently 72.93%.

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.