WEC Energy Group (NYSE:WEC) Sets New 1-Year High - Here's What Happened

Shares of WEC Energy Group, Inc. (NYSE:WEC - Get Free Report) reached a new 52-week high during trading on Tuesday . The stock traded as high as $105.29 and last traded at $104.89, with a volume of 2480352 shares traded. The stock had previously closed at $104.05.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on WEC shares. BMO Capital Markets raised their target price on shares of 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. Barclays raised 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 report on Thursday, January 2nd. KeyCorp increased their price target on WEC Energy Group from $108.00 to $109.00 and gave the company an "overweight" rating in a research note on Wednesday, December 4th. StockNews.com downgraded WEC Energy Group from a "hold" rating to a "sell" rating in a research note on Thursday, February 6th. Finally, Bank of America raised WEC Energy Group from an "underperform" rating to a "neutral" rating and upped their price objective for the stock from $90.00 to $98.00 in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, WEC Energy Group currently has a consensus rating of "Hold" and an average price target of $101.88.

WEC Energy Group Trading Up 1.1 %

The stock has a market cap of $33.77 billion, a P/E ratio of 22.10, a P/E/G ratio of 2.60 and a beta of 0.49. The company has a 50-day moving average price of $98.69 and a two-hundred day moving average price of $96.81. The company has a current ratio of 0.60, a quick ratio of 0.43 and a debt-to-equity ratio of 1.37.

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 net margin of 17.75% and a return on equity of 12.39%. The firm had revenue of $2.28 billion during the quarter, compared to analysts' expectations of $2.50 billion. During the same period in the prior year, the company posted $1.10 EPS. The company's revenue was up 3.0% compared to the same quarter last year. On average, research analysts expect that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

WEC Energy Group Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 14th will be paid a dividend of $0.835 per share. The ex-dividend date is Friday, February 14th. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.13%. WEC Energy Group's dividend payout ratio is 73.91%.

Insider Transactions at WEC Energy Group

In related news, Director Ulice Payne, Jr. sold 1,150 shares of the firm's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $104.17, for a total value of $119,795.50. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.44% of the company's stock.

Hedge Funds Weigh In On WEC Energy Group

Hedge funds have recently added to or reduced their stakes in the stock. Larson Financial Group LLC raised its stake in shares of WEC Energy Group by 3,828.6% during the fourth quarter. Larson Financial Group LLC now owns 275 shares of the utilities provider's stock valued at $26,000 after acquiring an additional 268 shares in the last quarter. Prudent Man Investment Management Inc. bought a new stake in WEC Energy Group during the 4th quarter valued at $28,000. Coastline Trust Co purchased a new stake in shares of WEC Energy Group in the 3rd quarter worth $29,000. Hoey Investments Inc. bought a new position in shares of WEC Energy Group during the 4th quarter worth $42,000. Finally, Ashton Thomas Securities LLC purchased a new position in shares of WEC Energy Group during the third quarter valued at $45,000. 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.