WEC Energy Group, Inc. (NYSE:WEC) Receives $86.17 Consensus Target Price from Brokerages

Shares of WEC Energy Group, Inc. (NYSE:WEC) have received an average rating of “Hold” from the ten analysts that are currently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $86.17.

Several analysts have recently weighed in on the stock. Barclays reduced their price objective on shares of WEC Energy Group from $79.00 to $75.00 and set an “underweight” rating for the company in a research report on Thursday, February 8th. Royal Bank of Canada dropped their price objective on WEC Energy Group from $95.00 to $90.00 and set a “sector perform” rating on the stock in a report on Thursday, February 8th. StockNews.com downgraded WEC Energy Group from a “hold” rating to a “sell” rating in a report on Saturday, January 13th. Wells Fargo & Company dropped their price target on WEC Energy Group from $93.00 to $91.00 and set an “overweight” rating on the stock in a research note on Friday, February 2nd. Finally, JPMorgan Chase & Co. cut WEC Energy Group from a “neutral” rating to an “underweight” rating and reduced their price objective for the company from $90.00 to $84.00 in a research note on Friday, February 2nd.

Insider Activity at WEC Energy Group

In other news, Chairman Gale E. Klappa sold 37,180 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $78.69, for a total value of $2,925,694.20. Following the completion of the sale, the chairman now owns 274,782 shares in the company, valued at approximately $21,622,595.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other WEC Energy Group news, CEO Scott J. Lauber sold 2,830 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $78.89, for a total value of $223,258.70. Following the completion of the sale, the chief executive officer now owns 43,125 shares of the company’s stock, valued at $3,402,131.25. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Gale E. Klappa sold 37,180 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $78.69, for a total transaction of $2,925,694.20. Following the sale, the chairman now owns 274,782 shares in the company, valued at $21,622,595.58. The disclosure for this sale can be found here. 0.44% of the stock is currently owned by insiders.

Institutional Trading of WEC Energy Group

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Quilter Plc purchased a new stake in shares of WEC Energy Group during the 1st quarter worth approximately $234,348,000. Achmea Investment Management B.V. acquired a new position in WEC Energy Group during the first quarter worth $27,000. Northwest Bank & Trust Co purchased a new stake in shares of WEC Energy Group in the 4th quarter worth about $25,000. Tennessee Valley Asset Management Partners purchased a new stake in shares of WEC Energy Group in the fourth quarter valued at about $26,000. Finally, First Manhattan Co. boosted its stake in shares of WEC Energy Group by 102.0% during the fourth quarter. First Manhattan Co. now owns 303 shares of the utilities provider’s stock valued at $28,000 after acquiring an additional 153 shares during the last quarter. Institutional investors and hedge funds own 77.20% of the company’s stock.

WEC Energy Group Stock Performance

NYSE:WEC opened at $81.33 on Tuesday. The firm has a market capitalization of $25.65 billion, a PE ratio of 19.27, a price-to-earnings-growth ratio of 2.80 and a beta of 0.40. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.55 and a quick ratio of 0.40. The business’s fifty day moving average price is $79.67 and its 200 day moving average price is $81.44. WEC Energy Group has a 12 month low of $75.13 and a 12 month high of $99.15.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Thursday, February 1st. The utilities provider reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.02. The business had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.82 billion. WEC Energy Group had a return on equity of 12.17% and a net margin of 14.98%. The business’s revenue for the quarter was down 13.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.80 EPS. On average, sell-side analysts anticipate that WEC Energy Group will post 4.88 earnings per share for the current fiscal year.

About WEC Energy Group

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