Analysts Set WEC Energy Group, Inc. (NYSE:WEC) Price Target at $104.38

Shares of WEC Energy Group, Inc. (NYSE:WEC) have received an average recommendation of “Hold” from the eight ratings firms that are presently covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $104.38.

A number of analysts have recently weighed in on WEC shares. Barclays raised WEC Energy Group from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $89.00 to $93.00 in a research note on Thursday, January 2nd. Wells Fargo & Company upped their price objective on shares of WEC Energy Group from $112.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. JPMorgan Chase & Co. upgraded WEC Energy Group from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $106.00 to $108.00 in a report on Tuesday, April 8th. BMO Capital Markets increased their price objective on WEC Energy Group from $95.00 to $100.00 and gave the stock a “market perform” rating in a report on Wednesday, February 5th. Finally, StockNews.com cut WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Thursday, February 6th.

Insider Transactions at WEC Energy Group

In other news, Director Ulice Payne, Jr. sold 1,150 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $104.17, for a total transaction of $119,795.50. Following the transaction, the director now directly owns 21,951 shares of the company’s stock, valued at $2,286,635.67. This represents a 4.98 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gale E. Klappa sold 25,000 shares of the company’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $108.62, for a total value of $2,715,500.00. Following the sale, the director now owns 274,955 shares of the company’s stock, valued at approximately $29,865,612.10. This trade represents a 8.33 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is owned by insiders.

Institutional Trading of WEC Energy Group

Several large investors have recently added to or reduced their stakes in the business. Annex Advisory Services LLC raised its holdings in WEC Energy Group by 6.5% in the 4th quarter. Annex Advisory Services LLC now owns 110,644 shares of the utilities provider’s stock worth $10,405,000 after purchasing an additional 6,785 shares during the period. Matrix Trust Co purchased a new position in WEC Energy Group during the fourth quarter valued at approximately $1,538,000. Gateway Investment Advisers LLC boosted its position in shares of WEC Energy Group by 20.9% in the fourth quarter. Gateway Investment Advisers LLC now owns 453,945 shares of the utilities provider’s stock worth $42,689,000 after purchasing an additional 78,580 shares during the period. PFW Advisors LLC bought a new stake in shares of WEC Energy Group during the 4th quarter valued at $1,073,000. Finally, Walkner Condon Financial Advisors LLC purchased a new stake in WEC Energy Group in the 4th quarter worth $271,000. 77.20% of the stock is currently owned by institutional investors.

WEC Energy Group Price Performance

WEC stock opened at $108.40 on Friday. The firm has a 50 day simple moving average of $105.35 and a two-hundred day simple moving average of $99.91. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.60 and a quick ratio of 0.43. The stock has a market cap of $34.59 billion, a PE ratio of 22.44, a P/E/G ratio of 2.60 and a beta of 0.44. WEC Energy Group has a one year low of $77.47 and a one year high of $111.00.

WEC Energy Group (NYSE:WEC) last released its earnings results on Tuesday, February 4th. The utilities provider reported $1.43 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.06). The business had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.50 billion. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. WEC Energy Group’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.10 EPS. On average, analysts predict that WEC Energy Group will post 5.23 EPS for the current fiscal year.

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.