WEC Energy Group’s (WEC) Equal Weight Rating Reiterated at Barclays PLC
Barclays PLC reiterated their equal weight rating on shares of WEC Energy Group Inc (NYSE:WEC) in a research note released on Sunday. They currently have a $68.00 price objective on the utilities provider’s stock, up from their prior price objective of $61.00.
A number of other research firms also recently issued reports on WEC. Zacks Investment Research raised shares of WEC Energy Group from a sell rating to a hold rating in a report on Thursday, March 23rd. Deutsche Bank AG boosted their price target on shares of WEC Energy Group from $60.00 to $62.00 and gave the stock a hold rating in a research note on Tuesday, April 11th. Wolfe Research downgraded shares of WEC Energy Group from an outperform rating to a market perform rating in a research note on Thursday, February 2nd. Finally, Mizuho downgraded shares of WEC Energy Group from a buy rating to a neutral rating and lowered their price target for the stock from $63.00 to $59.00 in a research note on Thursday, February 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $64.50.
Shares of WEC Energy Group (NYSE:WEC) traded up 0.89% during midday trading on Friday, hitting $60.30. The company had a trading volume of 2,712,141 shares. The company’s 50-day moving average price is $60.22 and its 200 day moving average price is $58.39. WEC Energy Group has a 12-month low of $53.66 and a 12-month high of $66.10. The company has a market capitalization of $19.03 billion, a price-to-earnings ratio of 20.37 and a beta of 0.06.
WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Wednesday, February 1st. The utilities provider reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by $0.01. WEC Energy Group had a return on equity of 10.63% and a net margin of 12.58%. The company had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same period in the prior year, the firm posted $0.63 earnings per share. The business’s revenue was up 6.2% on a year-over-year basis. Equities research analysts predict that WEC Energy Group will post $3.10 earnings per share for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 1st. Shareholders of record on Friday, May 12th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.45%. The ex-dividend date is Wednesday, May 10th. WEC Energy Group’s dividend payout ratio is presently 70.51%.
In other WEC Energy Group news, VP Scott J. Lauber sold 6,650 shares of the business’s stock in a transaction on Monday, March 27th. The shares were sold at an average price of $61.50, for a total value of $408,975.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gale E. Klappa sold 41,060 shares of the business’s stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $60.24, for a total transaction of $2,473,454.40. The disclosure for this sale can be found here. Insiders own 0.81% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Northwest Quadrant Wealth Management LLC acquired a new stake in WEC Energy Group during the fourth quarter valued at $103,000. NN Investment Partners Holdings N.V. increased its stake in WEC Energy Group by 22.0% in the fourth quarter. NN Investment Partners Holdings N.V. now owns 2,221 shares of the utilities provider’s stock valued at $130,000 after buying an additional 400 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in WEC Energy Group during the fourth quarter valued at $135,000. First Command Bank acquired a new stake in WEC Energy Group during the fourth quarter valued at $136,000. Finally, Van ECK Associates Corp increased its stake in WEC Energy Group by 24.7% in the fourth quarter. Van ECK Associates Corp now owns 2,329 shares of the utilities provider’s stock valued at $137,000 after buying an additional 461 shares in the last quarter. 69.55% of the stock is owned by institutional investors and hedge funds.
About WEC Energy Group
WEC Energy Group, Inc was a diversified holding company with natural gas and electric utility operations, an approximately 60% equity ownership interest in American Transmission Company LLC, and non-utility electric operations through its We Power business, as of December 31, 2016. Its segments include Wisconsin; Illinois; Other States; Electric Transmission; We Power, and Corporate and Other.
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