Barclays Raises WEC Energy Group (NYSE:WEC) Price Target to $89.00

by · The Markets Daily

WEC Energy Group (NYSE:WEC – Get Free Report) had its price target upped by research analysts at Barclays from $86.00 to $89.00 in a report released on Monday, Benzinga reports. The brokerage currently has an “underweight” rating on the utilities provider’s stock. Barclays‘s target price would suggest a potential downside of 5.67% from the company’s previous close.

WEC has been the topic of several other research reports. StockNews.com cut shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Wells Fargo & Company increased their price objective on shares of WEC Energy Group from $98.00 to $103.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Scotiabank increased their price objective on shares of WEC Energy Group from $90.00 to $103.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. Jefferies Financial Group initiated coverage on shares of WEC Energy Group in a research note on Thursday, September 19th. They set a “hold” rating and a $102.00 price objective on the stock. Finally, BMO Capital Markets increased their price objective on shares of WEC Energy Group from $91.00 to $93.00 and gave the stock a “market perform” rating in a research note on Friday, August 23rd. Four analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, WEC Energy Group has a consensus rating of “Hold” and an average price target of $92.92.

View Our Latest Analysis on WEC

WEC Energy Group Stock Performance

Shares of WEC stock opened at $94.35 on Monday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.54 and a current ratio of 0.74. WEC Energy Group has a one year low of $75.13 and a one year high of $97.08. The company’s 50-day simple moving average is $92.65 and its 200-day simple moving average is $85.08. The stock has a market capitalization of $29.82 billion, a price-to-earnings ratio of 20.60, a PEG ratio of 2.46 and a beta of 0.44.

WEC Energy Group (NYSE:WEC – Get Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.67 EPS for the quarter, topping the consensus estimate of $0.63 by $0.04. WEC Energy Group had a net margin of 15.85% and a return on equity of 12.26%. The business had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter last year, the company posted $0.92 earnings per share. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. Equities analysts anticipate that WEC Energy Group will post 4.87 earnings per share for the current fiscal year.

Insider Buying and Selling at WEC Energy Group

In other WEC Energy Group news, VP Anthony Reese sold 1,362 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $88.78, for a total value of $120,918.36. Following the sale, the vice president now owns 1,462 shares in the company, valued at approximately $129,796.36. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Joshua M. Erickson sold 350 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $89.75, for a total transaction of $31,412.50. Following the transaction, the vice president now owns 2,377 shares in the company, valued at $213,335.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Anthony Reese sold 1,362 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $88.78, for a total transaction of $120,918.36. Following the transaction, the vice president now owns 1,462 shares in the company, valued at $129,796.36. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,702 shares of company stock worth $1,078,058. 0.34% of the stock is owned by company insiders.

Institutional Trading of WEC Energy Group

A number of large investors have recently added to or reduced their stakes in the business. Massmutual Trust Co. FSB ADV boosted its holdings in WEC Energy Group by 5.2% during the third quarter. Massmutual Trust Co. FSB ADV now owns 2,248 shares of the utilities provider’s stock worth $216,000 after buying an additional 111 shares in the last quarter. Bradley Foster & Sargent Inc. CT boosted its holdings in WEC Energy Group by 2.0% during the second quarter. Bradley Foster & Sargent Inc. CT now owns 6,047 shares of the utilities provider’s stock worth $474,000 after buying an additional 117 shares in the last quarter. Global X Japan Co. Ltd. boosted its holdings in WEC Energy Group by 58.1% during the second quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock worth $25,000 after buying an additional 118 shares in the last quarter. Park National Corp OH boosted its stake in WEC Energy Group by 3.4% in the 3rd quarter. Park National Corp OH now owns 3,964 shares of the utilities provider’s stock worth $381,000 after purchasing an additional 130 shares during the period. Finally, Diversified Trust Co boosted its stake in WEC Energy Group by 2.7% in the 1st quarter. Diversified Trust Co now owns 5,099 shares of the utilities provider’s stock worth $419,000 after purchasing an additional 134 shares during the period. 77.20% of the stock is currently owned by institutional investors.

WEC Energy Group Company Profile

(Get Free Report)

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.

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