WEC Energy Group (NYSE:WEC) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Friday.

WEC has been the topic of several other reports. Barclays assumed coverage on shares of WEC Energy Group in a research note on Tuesday, July 10th. They set an “equal weight” rating and a $71.00 price objective on the stock. Goldman Sachs Group upgraded shares of WEC Energy Group from a “sell” rating to a “neutral” rating in a research note on Thursday, July 19th. Citigroup set a $66.00 price objective on shares of WEC Energy Group and gave the stock a “neutral” rating in a research note on Wednesday, October 3rd. Zacks Investment Research upgraded shares of WEC Energy Group from a “hold” rating to a “buy” rating and set a $77.00 price objective on the stock in a research note on Wednesday. Finally, Deutsche Bank boosted their price objective on shares of WEC Energy Group from $67.00 to $68.00 and gave the stock a “hold” rating in a research note on Wednesday, August 1st. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $70.00.

Shares of NYSE:WEC opened at $70.57 on Friday. The company has a current ratio of 0.59, a quick ratio of 0.44 and a debt-to-equity ratio of 0.95. WEC Energy Group has a one year low of $58.48 and a one year high of $70.87. The stock has a market cap of $21.86 billion, a price-to-earnings ratio of 22.47, a price-to-earnings-growth ratio of 4.75 and a beta of 0.02.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Tuesday, July 31st. The utilities provider reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.06. The company had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.57 billion. WEC Energy Group had a net margin of 16.56% and a return on equity of 11.18%. WEC Energy Group’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.63 EPS. As a group, equities analysts forecast that WEC Energy Group will post 3.32 EPS for the current fiscal year.

In related news, Director Barbara L. Bowles sold 2,500 shares of the company’s stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $66.45, for a total value of $166,125.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Frederick D. Kuester sold 168,790 shares of the company’s stock in a transaction dated Thursday, August 9th. The shares were sold at an average price of $66.94, for a total transaction of $11,298,802.60. The disclosure for this sale can be found here. 0.97% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Securian Asset Management Inc grew its stake in WEC Energy Group by 12.2% in the 2nd quarter. Securian Asset Management Inc now owns 56,293 shares of the utilities provider’s stock valued at $3,639,000 after buying an additional 6,105 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its stake in WEC Energy Group by 120.5% in the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 141,498 shares of the utilities provider’s stock valued at $9,148,000 after buying an additional 77,330 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in WEC Energy Group by 245.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,426 shares of the utilities provider’s stock valued at $351,000 after buying an additional 3,856 shares during the last quarter. Sei Investments Co. grew its stake in WEC Energy Group by 8.3% in the 2nd quarter. Sei Investments Co. now owns 266,162 shares of the utilities provider’s stock valued at $17,207,000 after buying an additional 20,323 shares during the last quarter. Finally, Bronfman E.L. Rothschild L.P. grew its stake in WEC Energy Group by 11.4% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 16,265 shares of the utilities provider’s stock valued at $1,052,000 after buying an additional 1,670 shares during the last quarter. Institutional investors and hedge funds own 73.44% of the company’s stock.

About WEC Energy Group

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and nonregulated renewable energy services in the United States. The company operates through six segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure, and Corporate and Other.

Further Reading: Retained Earnings

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for WEC Energy Group (NYSE:WEC)

Receive News & Ratings for WEC Energy Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WEC Energy Group and related companies with MarketBeat.com's FREE daily email newsletter.