WEC Energy Group (NYSE:WEC) Price Target Cut to $113.00 by Analysts at JPMorgan Chase & Co.

WEC Energy Group (NYSE:WEC) had its price target cut by equities research analysts at JPMorgan Chase & Co. from $121.00 to $113.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the utilities provider’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 8.88% from the stock’s current price.

A number of other research analysts also recently commented on the company. Barclays increased their price objective on WEC Energy Group from $100.00 to $110.00 and gave the company an “equal weight” rating in a report on Tuesday, October 21st. Wells Fargo & Company started coverage on WEC Energy Group in a report on Monday, October 27th. They issued an “overweight” rating and a $124.00 price target for the company. Scotiabank boosted their price objective on shares of WEC Energy Group from $129.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, October 31st. Mizuho set a $125.00 target price on shares of WEC Energy Group in a research report on Monday, October 27th. Finally, BTIG Research raised shares of WEC Energy Group to a “strong-buy” rating in a research report on Wednesday, October 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $120.57.

WEC Energy Group Price Performance

Shares of NYSE:WEC traded up $0.13 during midday trading on Thursday, hitting $103.79. The company had a trading volume of 862,016 shares, compared to its average volume of 2,188,795. The business’s 50-day simple moving average is $112.32 and its 200-day simple moving average is $109.18. The stock has a market cap of $33.76 billion, a price-to-earnings ratio of 19.61, a price-to-earnings-growth ratio of 2.64 and a beta of 0.56. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.50 and a quick ratio of 0.33. WEC Energy Group has a twelve month low of $91.94 and a twelve month high of $118.18.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Tuesday, September 2nd. The utilities provider reported $1.43 EPS for the quarter. The company had revenue of $2.28 billion for the quarter. WEC Energy Group had a return on equity of 12.60% and a net margin of 17.75%. On average, research analysts predict that WEC Energy Group will post 5.23 earnings per share for the current year.

Hedge Funds Weigh In On WEC Energy Group

A number of hedge funds and other institutional investors have recently bought and sold shares of WEC. Vanguard Group Inc. raised its position in WEC Energy Group by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 40,280,324 shares of the utilities provider’s stock worth $4,615,722,000 after buying an additional 334,563 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of WEC Energy Group by 2.8% during the second quarter. Geode Capital Management LLC now owns 8,594,608 shares of the utilities provider’s stock worth $892,020,000 after acquiring an additional 235,653 shares during the period. Ameriprise Financial Inc. raised its holdings in WEC Energy Group by 0.8% during the first quarter. Ameriprise Financial Inc. now owns 4,274,385 shares of the utilities provider’s stock worth $466,451,000 after purchasing an additional 33,810 shares in the last quarter. Northern Trust Corp lifted its position in WEC Energy Group by 4.9% in the first quarter. Northern Trust Corp now owns 4,003,464 shares of the utilities provider’s stock valued at $436,298,000 after purchasing an additional 188,057 shares during the period. Finally, Envestnet Asset Management Inc. lifted its position in WEC Energy Group by 12.4% in the third quarter. Envestnet Asset Management Inc. now owns 3,046,591 shares of the utilities provider’s stock valued at $349,109,000 after purchasing an additional 337,300 shares during the period. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

WEC Energy Group Company Profile

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.