WEC Energy Group Inc. (WEC) Stock Price Down 1.9%
WEC Energy Group Inc. (NYSE:WEC)’s share price traded down 1.9% during trading on Friday . The stock traded as low as $62.58 and last traded at $62.62, with a volume of 912,385 shares changing hands. The stock had previously closed at $63.85.
Several equities analysts have recently commented on the stock. Argus restated a “buy” rating and issued a $70.00 target price (up from $65.00) on shares of WEC Energy Group in a research report on Tuesday. Deutsche Bank AG restated a “hold” rating and issued a $61.00 target price on shares of WEC Energy Group in a research report on Tuesday, April 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $58.25.
The firm has a market cap of $19.75 billion and a PE ratio of 22.34. The firm has a 50 day moving average price of $64.25 and a 200-day moving average price of $59.70.
WEC Energy Group (NYSE:WEC) last issued its earnings results on Wednesday, July 27th. The company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.01. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $2.03 billion. WEC Energy Group’s revenue for the quarter was up 61.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.58 EPS. On average, equities research analysts predict that WEC Energy Group Inc. will post $2.93 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Friday, August 12th will be given a dividend of $0.495 per share. The ex-dividend date is Wednesday, August 10th. This represents a $1.98 dividend on an annualized basis and a yield of 3.16%.
In other news, VP Joan M. Shafer sold 15,990 shares of the firm’s stock in a transaction that occurred on Wednesday, May 25th. The shares were sold at an average price of $58.67, for a total value of $938,133.30. Following the completion of the transaction, the vice president now directly owns 23,831 shares in the company, valued at $1,398,164.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Susan H. Martin sold 9,920 shares of the firm’s stock in a transaction that occurred on Monday, May 9th. The shares were sold at an average price of $59.89, for a total transaction of $594,108.80. Following the completion of the transaction, the vice president now owns 17,868 shares of the company’s stock, valued at $1,070,114.52. The disclosure for this sale can be found here.
A number of large investors recently made changes to their positions in WEC. Jennison Associates LLC raised its stake in shares of WEC Energy Group by 24.8% in the fourth quarter. Jennison Associates LLC now owns 889,634 shares of the company’s stock valued at $45,647,000 after buying an additional 177,056 shares during the last quarter. Morgan Stanley raised its stake in shares of WEC Energy Group by 13.6% in the fourth quarter. Morgan Stanley now owns 865,905 shares of the company’s stock valued at $44,428,000 after buying an additional 103,758 shares during the last quarter. Jennison Associates bought a new stake in shares of WEC Energy Group during the third quarter valued at about $37,211,000. I.G. Investment Management LTD. raised its stake in shares of WEC Energy Group by 5.7% in the fourth quarter. I.G. Investment Management LTD. now owns 624,700 shares of the company’s stock valued at $32,053,000 after buying an additional 33,600 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of WEC Energy Group by 2.0% in the fourth quarter. Principal Financial Group Inc. now owns 447,288 shares of the company’s stock valued at $22,951,000 after buying an additional 8,644 shares during the last quarter.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.