WEC Energy Group (NYSE:WEC) Sets New 52-Week High – Here’s Why

WEC Energy Group, Inc. (NYSE:WEC) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $101.68 and last traded at $101.55, with a volume of 1197420 shares traded. The stock had previously closed at $101.35.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on WEC shares. StockNews.com upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Scotiabank raised their price objective on WEC Energy Group from $90.00 to $103.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. KeyCorp raised their price objective on WEC Energy Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Jefferies Financial Group started coverage on WEC Energy Group in a research note on Thursday, September 19th. They set a “hold” rating and a $102.00 price objective on the stock. Finally, Wells Fargo & Company raised their target price on WEC Energy Group from $103.00 to $106.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, WEC Energy Group has an average rating of “Hold” and an average target price of $94.45.

WEC Energy Group Trading Up 0.2 %

The business’s 50 day moving average is $96.92 and its two-hundred day moving average is $89.14. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.37. The firm has a market capitalization of $32.13 billion, a P/E ratio of 24.83, a PEG ratio of 2.73 and a beta of 0.44.

WEC Energy Group (NYSE:WEC) last released its earnings results on Thursday, October 31st. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.12. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.93 billion. WEC Energy Group had a return on equity of 11.72% and a net margin of 15.14%. WEC Energy Group’s revenue was down 4.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.00 earnings per share. Analysts expect that WEC Energy Group, Inc. will post 4.87 EPS for the current year.

WEC Energy Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Thursday, November 14th will be paid a $0.835 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.34 dividend on an annualized basis and a yield of 3.29%. WEC Energy Group’s dividend payout ratio is currently 81.66%.

Insider Buying and Selling

In other WEC Energy Group news, Director Gale E. Klappa sold 40,269 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $99.56, for a total transaction of $4,009,181.64. Following the completion of the sale, the director now directly owns 273,248 shares in the company, valued at approximately $27,204,570.88. This trade represents a 12.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Mary Beth Straka sold 3,240 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $93.04, for a total value of $301,449.60. Following the sale, the vice president now owns 3,662 shares of the company’s stock, valued at $340,712.48. The trade was a 46.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,034 shares of company stock valued at $5,168,029. 0.44% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On WEC Energy Group

A number of institutional investors have recently bought and sold shares of WEC. Global X Japan Co. Ltd. lifted its holdings in shares of WEC Energy Group by 58.1% during the 2nd quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock valued at $25,000 after buying an additional 118 shares during the last quarter. Olistico Wealth LLC acquired a new stake in WEC Energy Group in the 2nd quarter worth approximately $29,000. Coastline Trust Co acquired a new stake in WEC Energy Group in the 3rd quarter worth approximately $29,000. William B. Walkup & Associates Inc. acquired a new stake in WEC Energy Group in the 2nd quarter worth approximately $31,000. Finally, Triad Wealth Partners LLC acquired a new stake in WEC Energy Group in the 2nd quarter worth approximately $36,000. 77.20% of the stock is currently owned by institutional investors and hedge funds.

About WEC Energy Group

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.