WEC Energy Group (NYSE:WEC) Hits New 12-Month High - Here's Why

Shares of WEC Energy Group, Inc. (NYSE:WEC - Get Free Report) hit a new 52-week high on Thursday . The stock traded as high as $111.00 and last traded at $109.11, with a volume of 151886 shares trading hands. The stock had previously closed at $108.84.

Analyst Ratings Changes

Several brokerages have commented on WEC. StockNews.com cut shares of WEC Energy Group from a "hold" rating to a "sell" rating in a research report on Thursday, February 6th. BMO Capital Markets increased 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. Bank of America upgraded shares of WEC Energy Group from an "underperform" rating to a "neutral" rating and lifted their price target for the stock from $90.00 to $98.00 in a research report on Thursday, December 12th. JPMorgan Chase & Co. upgraded WEC Energy Group from an "underweight" rating to a "neutral" rating and increased their price objective for the company from $106.00 to $108.00 in a research report on Tuesday. Finally, Barclays raised WEC Energy Group from an "underweight" rating to an "equal weight" rating and boosted their target price for the stock from $89.00 to $93.00 in a research report on Thursday, January 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $102.56.

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WEC Energy Group Stock Performance

The company has a current ratio of 0.60, a quick ratio of 0.43 and a debt-to-equity ratio of 1.37. The firm's fifty day moving average price is $104.58 and its 200 day moving average price is $99.44. The firm has a market capitalization of $33.27 billion, a PE ratio of 21.58, a PEG ratio of 2.60 and a beta of 0.44.

WEC Energy Group (NYSE:WEC - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share for the quarter, missing analysts' consensus estimates of $1.49 by ($0.06). The firm had revenue of $2.28 billion for the quarter, compared to analysts' expectations of $2.50 billion. WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. The firm's revenue for the quarter was up 3.0% on a year-over-year basis. During the same period last year, the business earned $1.10 earnings per share. On average, research analysts anticipate that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

Insider Activity at WEC Energy Group

In other news, Director Gale E. Klappa sold 25,000 shares of the company's stock in a transaction dated Tuesday, March 4th. The stock was 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 owns 274,955 shares in the company, valued at approximately $29,865,612.10. This represents a 8.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Ulice Payne, Jr. sold 1,150 shares of the 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 directly owns 21,951 shares in the company, valued at approximately $2,286,635.67. This represents a 4.98 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is owned by company insiders.

Institutional Investors Weigh In On WEC Energy Group

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Larson Financial Group LLC boosted its stake in WEC Energy Group by 3,828.6% during the 4th quarter. Larson Financial Group LLC now owns 275 shares of the utilities provider's stock valued at $26,000 after purchasing an additional 268 shares during the period. Prudent Man Investment Management Inc. acquired a new stake in shares of WEC Energy Group in the fourth quarter worth $28,000. Hoey Investments Inc. bought a new position in WEC Energy Group during the fourth quarter worth $42,000. Human Investing LLC acquired a new position in WEC Energy Group during the 4th quarter valued at $52,000. Finally, Cullen Frost Bankers Inc. boosted its holdings in WEC Energy Group by 140.8% in the 4th quarter. Cullen Frost Bankers Inc. now owns 590 shares of the utilities provider's stock valued at $55,000 after purchasing an additional 345 shares during the period. 77.20% of the stock is 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.