WEC Energy Group (NYSE:WEC) Sets New 52-Week High - Here's Why

Shares of WEC Energy Group, Inc. (NYSE:WEC - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $100.25 and last traded at $100.06, with a volume of 57667 shares trading hands. The stock had previously closed at $99.85.

Analysts Set New Price Targets

A number of brokerages recently commented on WEC. BMO Capital Markets raised their target price on WEC Energy Group from $91.00 to $93.00 and gave the stock a "market perform" rating in a report on Friday, August 23rd. Scotiabank raised their price objective on 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. StockNews.com downgraded WEC Energy Group from a "hold" rating to a "sell" rating in a research note on Friday, August 9th. Barclays raised their target price on shares of WEC Energy Group from $86.00 to $89.00 and gave the stock an "underweight" rating in a research note on Monday, October 7th. Finally, Jefferies Financial Group began coverage on shares of WEC Energy Group in a research report on Thursday, September 19th. They issued a "hold" rating and a $102.00 price target for the company. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $94.00.

WEC Energy Group Stock Down 0.4 %

The company has a market capitalization of $31.40 billion, a PE ratio of 21.71, a PEG ratio of 2.57 and a beta of 0.44. 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 company's 50 day moving average is $94.40 and its two-hundred day moving average is $86.20.

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

WEC Energy Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Thursday, November 14th will be paid a dividend of $0.835 per share. This represents a $3.34 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date is Thursday, November 14th. WEC Energy Group's payout ratio is 72.93%.

Insider Buying and Selling at WEC Energy Group

In other news, VP Anthony Reese sold 1,362 shares of the business's stock in a transaction dated 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 directly owns 1,462 shares in the company, valued at $129,796.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Ulice Payne, Jr. sold 750 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $88.45, for a total value of $66,337.50. Following the sale, the director now owns 21,876 shares of the company's stock, valued at approximately $1,934,932.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Anthony Reese sold 1,362 shares of the firm's stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $88.78, for a total transaction of $120,918.36. Following the completion of the sale, the vice president now owns 1,462 shares of the company's stock, valued at $129,796.36. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,702 shares of company stock worth $1,078,058 over the last 90 days. 0.34% of the stock is owned by insiders.

Hedge Funds Weigh In On WEC Energy Group

Several hedge funds have recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC purchased a new stake in WEC Energy Group in the first quarter worth $25,000. Global X Japan Co. Ltd. increased its stake in WEC Energy Group by 58.1% in 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 period. Olistico Wealth LLC bought a new stake in WEC Energy Group during the 2nd quarter valued at about $29,000. William B. Walkup & Associates Inc. purchased a new stake in WEC Energy Group in the 2nd quarter valued at about $31,000. Finally, FinTrust Capital Advisors LLC grew its stake in WEC Energy Group by 52.6% in the 1st quarter. FinTrust Capital Advisors LLC now owns 412 shares of the utilities provider's stock worth $34,000 after acquiring an additional 142 shares in the last quarter. 77.20% of the stock is currently owned by 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.