WEC Energy Group, Inc. (NYSE:WEC) Receives Consensus Rating of “Hold” from Analysts
WEC Energy Group, Inc. (NYSE:WEC) has received a consensus rating of “Hold” from the ten ratings firms that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $62.50.
A number of research analysts have issued reports on WEC shares. Zacks Investment Research upgraded shares of WEC Energy Group from a “sell” rating to a “hold” rating in a report on Thursday, June 22nd. BidaskClub upgraded shares of WEC Energy Group from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Goldman Sachs Group, Inc. (The) restated a “sell” rating and issued a $58.00 target price (down from $59.00) on shares of WEC Energy Group in a report on Monday, June 26th. Wolfe Research restated a “peer perform” rating on shares of WEC Energy Group in a report on Monday, April 24th. Finally, Barclays PLC restated an “equal weight” rating and issued a $68.00 target price (up from $61.00) on shares of WEC Energy Group in a report on Sunday, April 23rd.
Shares of WEC Energy Group (NYSE:WEC) opened at 63.84 on Friday. The company’s 50-day moving average is $62.52 and its 200 day moving average is $60.98. WEC Energy Group has a 52-week low of $53.66 and a 52-week high of $64.94. The firm has a market capitalization of $20.15 billion, a PE ratio of 20.93 and a beta of 0.11.
WEC Energy Group (NYSE:WEC) last released its earnings results on Wednesday, July 26th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.05. The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.58 billion. WEC Energy Group had a net margin of 12.72% and a return on equity of 10.75%. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.57 EPS. Equities analysts expect that WEC Energy Group will post $3.11 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Monday, August 14th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date of this dividend is Thursday, August 10th. WEC Energy Group’s dividend payout ratio is currently 68.42%.
In other news, VP Susan H. Martin sold 15,470 shares of the company’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $62.50, for a total transaction of $966,875.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.97% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of WEC. Coastline Trust Co increased its stake in WEC Energy Group by 47.8% in the first quarter. Coastline Trust Co now owns 9,279 shares of the utilities provider’s stock worth $563,000 after buying an additional 3,000 shares during the period. First Financial Corp IN acquired a new stake in WEC Energy Group during the first quarter worth about $413,000. Somerset Trust Co increased its stake in WEC Energy Group by 1.9% in the first quarter. Somerset Trust Co now owns 10,955 shares of the utilities provider’s stock worth $664,000 after buying an additional 203 shares during the period. Reilly Financial Advisors LLC increased its stake in WEC Energy Group by 9.7% in the first quarter. Reilly Financial Advisors LLC now owns 21,921 shares of the utilities provider’s stock worth $1,329,000 after buying an additional 1,930 shares during the period. Finally, Tompkins Financial Corp increased its stake in WEC Energy Group by 12,160.9% in the first quarter. Tompkins Financial Corp now owns 5,640 shares of the utilities provider’s stock worth $339,000 after buying an additional 5,594 shares during the period. 70.72% of the stock is owned by institutional investors.
WEC Energy Group Company Profile
WEC Energy Group, Inc was a diversified holding company with natural gas and electric utility operations, an approximately 60% equity ownership interest in American Transmission Company LLC, and non-utility electric operations through its We Power business, as of December 31, 2016. Its segments include Wisconsin; Illinois; Other States; Electric Transmission; We Power, and Corporate and Other.
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