WEC Energy Group (WEC) Given New $73.00 Price Target at Barclays
WEC Energy Group (NYSE:WEC) had its price target hoisted by equities research analysts at Barclays from $71.00 to $73.00 in a report released on Monday. The brokerage presently has a “hold” rating on the utilities provider’s stock. Barclays’ price objective would indicate a potential upside of 0.93% from the stock’s previous close.
WEC has been the subject of a number of other research reports. Credit Suisse Group upped their target price on WEC Energy Group from $69.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, November 1st. Wells Fargo & Co upped their target price on WEC Energy Group from $71.00 to $75.00 and gave the stock an “outperform” rating in a report on Monday, September 17th. ValuEngine upgraded WEC Energy Group from a “hold” rating to a “buy” rating in a report on Monday, November 12th. Deutsche Bank upped their target price on WEC Energy Group from $67.00 to $68.00 and gave the stock a “hold” rating in a report on Wednesday, August 1st. Finally, Citigroup set a $66.00 target price on WEC Energy Group and gave the stock a “neutral” rating in a report on Wednesday, October 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $70.40.
NYSE:WEC traded up $0.73 during midday trading on Monday, hitting $72.33. The stock had a trading volume of 294,217 shares, compared to its average volume of 2,388,637. WEC Energy Group has a one year low of $58.48 and a one year high of $72.09. The stock has a market cap of $22.37 billion, a P/E ratio of 23.04, a price-to-earnings-growth ratio of 4.86 and a beta of -0.03. The company has a quick ratio of 0.34, a current ratio of 0.51 and a debt-to-equity ratio of 0.93.
Several institutional investors and hedge funds have recently modified their holdings of WEC. Braun Bostich & Associates Inc. lifted its holdings in shares of WEC Energy Group by 1,300.0% during the 2nd quarter. Braun Bostich & Associates Inc. now owns 1,764 shares of the utilities provider’s stock valued at $114,000 after purchasing an additional 1,638 shares during the last quarter. Centaurus Financial Inc. purchased a new stake in shares of WEC Energy Group during the 2nd quarter valued at $141,000. Bridgeworth LLC purchased a new stake in shares of WEC Energy Group during the 2nd quarter valued at $156,000. Flagship Harbor Advisors LLC purchased a new stake in shares of WEC Energy Group during the 2nd quarter valued at $164,000. Finally, Cornerstone Wealth Management LLC purchased a new stake in shares of WEC Energy Group during the 2nd quarter valued at $200,000. Hedge funds and other institutional investors own 73.01% 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.
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