WEC Energy Group (NYSE:WEC) Hits New 52-Week High - Should You Buy?

Shares of WEC Energy Group, Inc. (NYSE:WEC - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $97.33 and last traded at $96.90, with a volume of 126672 shares changing hands. The stock had previously closed at $96.30.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Wells Fargo & Company lifted their price objective on WEC Energy Group from $98.00 to $103.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 21st. KeyCorp lifted their price target on WEC Energy Group from $98.00 to $103.00 and gave the stock an "overweight" rating in a report on Monday, September 30th. Barclays upped their price objective on shares of WEC Energy Group from $86.00 to $89.00 and gave the company an "underweight" rating in a report on Monday, October 7th. Bank of America raised their price objective on shares of WEC Energy Group from $88.00 to $90.00 and gave the stock an "underperform" rating in a research report on Thursday, August 29th. Finally, StockNews.com lowered shares of WEC Energy Group from a "hold" rating to a "sell" rating in a report on Friday, August 9th. Four research analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $93.73.

WEC Energy Group Trading Up 1.0 %

The company has a quick ratio of 0.54, a current ratio of 0.74 and a debt-to-equity ratio of 1.37. The business has a 50-day simple moving average of $93.36 and a 200-day simple moving average of $85.59. The company has a market cap of $30.70 billion, a PE ratio of 21.03, a price-to-earnings-growth ratio of 2.42 and a beta of 0.44.

WEC Energy Group (NYSE:WEC - Get Free Report) last posted its earnings results on Wednesday, July 31st. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.04. The firm had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.87 billion. WEC Energy Group had a return on equity of 12.26% and a net margin of 15.85%. WEC Energy Group's revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.92 EPS. On average, analysts predict that WEC Energy Group, Inc. will post 4.87 EPS for the current fiscal year.

WEC Energy Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 14th were given a dividend of $0.835 per share. The ex-dividend date was Wednesday, August 14th. This represents a $3.34 annualized dividend and a dividend yield of 3.44%. WEC Energy Group's dividend payout ratio is presently 72.93%.

Insider Activity at WEC Energy Group

In related news, VP Mary Beth Straka sold 3,240 shares of the business's stock in a transaction on Friday, August 30th. The shares were sold at an average price of $93.04, for a total value of $301,449.60. Following the completion of the sale, the vice president now directly owns 3,662 shares of the company's stock, valued at $340,712.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP William J. Guc sold 6,000 shares of WEC Energy Group stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $92.99, for a total value of $557,940.00. Following the transaction, the vice president now directly owns 7,702 shares of the company's stock, valued at $716,208.98. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Mary Beth Straka sold 3,240 shares of the company's stock in a transaction on Friday, August 30th. The shares were sold at an average price of $93.04, for a total transaction of $301,449.60. Following the completion of the sale, the vice president now owns 3,662 shares of the company's stock, valued at approximately $340,712.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,702 shares of company stock valued at $1,078,058 in the last ninety days. Insiders own 0.34% of the company's stock.

Institutional Investors Weigh In On WEC Energy Group

A number of institutional investors and hedge funds have recently made changes to their positions in WEC. Massmutual Trust Co. FSB ADV raised its stake in shares of 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 purchasing an additional 111 shares during the last quarter. Bradley Foster & Sargent Inc. CT increased its stake in WEC Energy Group by 2.0% in the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 6,047 shares of the utilities provider's stock valued at $474,000 after buying an additional 117 shares during the period. Global X Japan Co. Ltd. raised its position in WEC Energy Group by 58.1% during the 2nd 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 during the last quarter. Park National Corp OH lifted its stake in shares of 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 acquiring an additional 130 shares during the period. Finally, Diversified Trust Co boosted its holdings in shares of WEC Energy Group by 2.7% in the first quarter. Diversified Trust Co now owns 5,099 shares of the utilities provider's stock valued at $419,000 after acquiring an additional 134 shares in the last quarter. 77.20% of the stock is owned by hedge funds and other institutional investors.

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.