WEC Energy Group, Inc. (WEC) Upgraded at BidaskClub
WEC Energy Group, Inc. (NYSE:WEC) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.
Several other research firms have also recently weighed in on WEC. Zacks Investment Research upgraded shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Thursday, June 22nd. Goldman Sachs Group, Inc. (The) restated a “sell” rating and issued a $58.00 price objective (down previously from $59.00) on shares of WEC Energy Group in a research report on Monday, June 26th. Ladenburg Thalmann Financial Services boosted their price objective on shares of WEC Energy Group from $62.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday, June 9th. Finally, Wolfe Research restated a “peer perform” rating on shares of WEC Energy Group in a research report on Monday, April 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $62.86.
Shares of WEC Energy Group (WEC) traded down 0.53% during trading on Tuesday, reaching $64.40. The company had a trading volume of 363,175 shares. The firm has a 50-day moving average of $62.85 and a 200-day moving average of $61.30. The company has a market cap of $20.32 billion, a P/E ratio of 21.11 and a beta of 0.11. WEC Energy Group has a 12-month low of $53.66 and a 12-month high of $64.94.
WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Wednesday, July 26th. The utilities provider reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.05. WEC Energy Group had a net margin of 12.72% and a return on equity of 10.75%. The firm had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter in the previous year, the company posted $0.57 EPS. WEC Energy Group’s revenue was up 1.8% on a year-over-year basis. On average, equities research analysts anticipate that WEC Energy Group will post $3.11 EPS for the current year.
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In other news, Director Gale E. Klappa sold 100,500 shares of the business’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $64.42, for a total value of $6,474,210.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Susan H. Martin sold 15,470 shares of the business’s stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $62.50, for a total transaction of $966,875.00. The disclosure for this sale can be found here. Insiders sold a total of 158,118 shares of company stock valued at $10,167,711 in the last three months. 0.97% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in WEC. Oakworth Capital Inc. raised its position in shares of WEC Energy Group by 8.8% in the second quarter. Oakworth Capital Inc. now owns 1,632 shares of the utilities provider’s stock valued at $100,000 after buying an additional 132 shares during the period. Trust Co. of Vermont raised its position in shares of WEC Energy Group by 12.1% in the first quarter. Trust Co. of Vermont now owns 1,737 shares of the utilities provider’s stock valued at $106,000 after buying an additional 187 shares during the period. Delphi Private Advisors LLC raised its position in shares of WEC Energy Group by 182.3% in the second quarter. Delphi Private Advisors LLC now owns 1,976 shares of the utilities provider’s stock valued at $120,000 after buying an additional 1,276 shares during the period. Country Trust Bank raised its position in shares of WEC Energy Group by 5.7% in the second quarter. Country Trust Bank now owns 2,066 shares of the utilities provider’s stock valued at $127,000 after buying an additional 112 shares during the period. Finally, Captrust Financial Advisors purchased a new position in shares of WEC Energy Group during the second quarter valued at about $132,000. 70.78% 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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