WEC Energy Group, Inc. (NYSE:WEC) Given Average Rating of "Hold" by Brokerages

WEC Energy Group, Inc. (NYSE:WEC - Get Free Report) has been given an average rating of "Hold" by the eight ratings firms that are presently covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $104.38.

WEC has been the subject of a number of research reports. Wells Fargo & Company boosted their target price on shares of WEC Energy Group from $112.00 to $115.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 5th. StockNews.com raised WEC Energy Group from a "sell" rating to a "hold" rating in a report on Wednesday. JPMorgan Chase & Co. raised WEC Energy Group from an "underweight" rating to a "neutral" rating and lifted their price target for the stock from $106.00 to $108.00 in a research note on Tuesday, April 8th. BMO Capital Markets increased their price objective on WEC Energy Group from $95.00 to $100.00 and gave the company a "market perform" rating in a research note on Wednesday, February 5th. Finally, Barclays raised shares of WEC Energy Group from an "underweight" rating to an "equal weight" rating and lifted their target price for the stock from $89.00 to $93.00 in a research note on Thursday, January 2nd.

WEC Energy Group Price Performance

Shares of NYSE:WEC traded up $1.66 during trading on Friday, reaching $109.02. 216,011 shares of the company's stock traded hands, compared to its average volume of 2,137,789. The firm has a market cap of $34.79 billion, a PE ratio of 22.60, a P/E/G ratio of 2.60 and a beta of 0.44. WEC Energy Group has a fifty-two week low of $77.47 and a fifty-two week high of $111.00. The company has a quick ratio of 0.43, a current ratio of 0.60 and a debt-to-equity ratio of 1.37. The company has a 50-day simple moving average of $105.61 and a 200-day simple moving average of $100.02.

WEC Energy Group (NYSE:WEC - Get Free Report) last announced its earnings results on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.06). WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. The business had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same period in the previous year, the company earned $1.10 earnings per share. The company's quarterly revenue was up 3.0% compared to the same quarter last year. As a group, analysts predict that WEC Energy Group will post 5.23 earnings per share for the current year.

Insider Activity at WEC Energy Group

In other WEC Energy Group news, Director Gale E. Klappa sold 25,000 shares of WEC Energy Group stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $108.62, for a total transaction of $2,715,500.00. Following the completion of the sale, the director now directly owns 274,955 shares in the company, valued at $29,865,612.10. This trade represents a 8.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ulice Payne, Jr. sold 1,150 shares of WEC Energy Group stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $104.17, for a total transaction of $119,795.50. Following the completion of the sale, the director now owns 21,951 shares of the company's stock, valued at $2,286,635.67. This trade represents a 4.98 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by insiders.

Institutional Investors Weigh In On WEC Energy Group

A number of hedge funds have recently added to or reduced their stakes in WEC. Dynamic Advisor Solutions LLC purchased a new stake in shares of WEC Energy Group during the 1st quarter worth $522,000. Vaughan Nelson Investment Management L.P. acquired a new position in shares of WEC Energy Group during the 1st quarter worth about $42,527,000. Opal Wealth Advisors LLC purchased a new position in shares of WEC Energy Group in the 1st quarter valued at about $32,000. IAG Wealth Partners LLC raised its position in shares of WEC Energy Group by 3.0% during the 1st quarter. IAG Wealth Partners LLC now owns 6,072 shares of the utilities provider's stock worth $662,000 after acquiring an additional 179 shares in the last quarter. Finally, Campbell Newman Asset Management Inc. purchased a new stake in WEC Energy Group during the first quarter worth approximately $23,219,000. 77.20% of the stock is currently owned by institutional investors and hedge funds.

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.