WEC Energy Group (NYSE:WEC) Upgraded to “Hold” at Wall Street Zen
by Kim Johansen · The Markets DailyWall Street Zen upgraded shares of WEC Energy Group (NYSE:WEC – Free Report) from a sell rating to a hold rating in a research note released on Sunday morning,Wall Street Zen reports.
Several other equities research analysts have also recently issued reports on WEC. Royal Bank Of Canada decreased their price objective on WEC Energy Group from $124.00 to $122.00 and set a “sector perform” rating on the stock in a report on Monday, October 26th. Weiss Ratings upgraded WEC Energy Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, November 2nd. JPMorgan Chase & Co. reduced their target price on WEC Energy Group from $121.00 to $116.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 13th. Truist Financial reduced their target price on WEC Energy Group from $114.00 to $113.00 and set a “hold” rating on the stock in a research report on Friday, October 16th. Finally, Barclays decreased their price target on WEC Energy Group from $117.00 to $108.00 and set an “equal weight” rating on the stock in a research note on Monday, October 19th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $117.88.
Get Our Latest Research Report on WEC Energy Group
WEC Energy Group Stock Performance
Shares of WEC opened at $115.86 on Friday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.36 and a current ratio of 0.53. The company has a market capitalization of $38.12 billion, a price-to-earnings ratio of 21.03, a PEG ratio of 2.38 and a beta of 0.43. The company’s 50 day simple moving average is $106.86 and its 200 day simple moving average is $111.67. WEC Energy Group has a 1 year low of $99.80 and a 1 year high of $120.15.
WEC Energy Group (NYSE:WEC – Get Free Report) last announced its earnings results on Thursday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.21. The firm had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.27 billion. WEC Energy Group had a net margin of 17.54% and a return on equity of 13.49%. WEC Energy Group’s revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.83 earnings per share. On average, sell-side analysts predict that WEC Energy Group will post 5.61 EPS for the current year.
WEC Energy Group Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 13th will be given a dividend of $0.9525 per share. This represents a $3.81 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Friday, November 13th. WEC Energy Group’s payout ratio is 69.15%.
Insider Buying and Selling
In other WEC Energy Group news, Director Ulice Payne, Jr. sold 980 shares of the company’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $105.58, for a total transaction of $103,468.40. Following the completion of the sale, the director directly owned 19,588 shares in the company, valued at $2,068,101.04. This represents a 4.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.46% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On WEC Energy Group
Several hedge funds and other institutional investors have recently modified their holdings of WEC. Diversify Advisory Services LLC increased its position in shares of WEC Energy Group by 2.0% in the 3rd quarter. Diversify Advisory Services LLC now owns 5,076 shares of the utilities provider’s stock worth $538,000 after purchasing an additional 98 shares during the last quarter. WPG Advisers LLC raised its stake in shares of WEC Energy Group by 37.2% in the 3rd quarter. WPG Advisers LLC now owns 365 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 99 shares in the last quarter. American State Bank Iowa lifted its position in shares of WEC Energy Group by 1.0% during the third quarter. American State Bank Iowa now owns 9,684 shares of the utilities provider’s stock worth $976,000 after purchasing an additional 100 shares during the last quarter. Integrity Alliance LLC. lifted its position in shares of WEC Energy Group by 2.2% during the third quarter. Integrity Alliance LLC. now owns 4,818 shares of the utilities provider’s stock worth $486,000 after purchasing an additional 103 shares during the last quarter. Finally, Hibernia Wealth Partners LLC lifted its position in shares of WEC Energy Group by 3.3% during the first quarter. Hibernia Wealth Partners LLC now owns 3,367 shares of the utilities provider’s stock worth $390,000 after purchasing an additional 106 shares during the last quarter. 77.20% of the stock is owned by institutional investors and hedge funds.
WEC Energy Group Company Profile
WEC Energy Group is a regulated energy holding company based in Milwaukee, Wisconsin. Through its subsidiaries, it generates, transmits and distributes electricity and provides natural gas service to residential, commercial and industrial customers.
The company’s utility operations serve communities across Wisconsin, Illinois, Michigan and Minnesota. Its businesses include electric and gas utilities, as well as natural gas storage and related energy services.
WEC Energy Group adopted its current name in 2015, following the combination of Wisconsin Energy Corporation and Integrys Energy Group.
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