WEC Energy Group (NYSE:WEC) PT Raised to $96.00 at KeyCorp

WEC Energy Group (NYSE:WEC) had its target price increased by KeyCorp from $95.00 to $96.00 in a research report report published on Friday morning, Benzinga reports. The brokerage currently has an overweight rating on the utilities provider’s stock.

Several other equities research analysts also recently issued reports on the stock. StockNews.com downgraded shares of WEC Energy Group from a hold rating to a sell rating in a research report on Saturday, January 13th. The Goldman Sachs Group assumed coverage on shares of WEC Energy Group in a report on Wednesday, April 10th. They set a neutral rating and a $88.00 target price for the company. JPMorgan Chase & Co. cut shares of WEC Energy Group from a neutral rating to an underweight rating and reduced their target price for the stock from $90.00 to $84.00 in a report on Friday, February 2nd. Bank of America restated an underperform rating and set a $78.00 target price (down previously from $84.00) on shares of WEC Energy Group in a report on Thursday, January 4th. Finally, Wells Fargo & Company reduced their target price on shares of WEC Energy Group from $93.00 to $91.00 and set an overweight rating for the company in a report on Friday, February 2nd. Four research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, WEC Energy Group has a consensus rating of Hold and an average price target of $86.38.

WEC Energy Group Stock Up 1.4 %

Shares of NYSE:WEC opened at $81.56 on Friday. WEC Energy Group has a 52 week low of $75.13 and a 52 week high of $98.80. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.40 and a current ratio of 0.55. The company has a market capitalization of $25.73 billion, a PE ratio of 19.33, a PEG ratio of 2.84 and a beta of 0.40. The company has a 50 day moving average price of $79.78 and a two-hundred day moving average price of $81.38.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data on Thursday, February 1st. The utilities provider reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.02. WEC Energy Group had a net margin of 14.98% and a return on equity of 12.17%. The company had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.82 billion. During the same quarter in the prior year, the firm earned $0.80 earnings per share. The firm’s revenue was down 13.3% compared to the same quarter last year. Analysts forecast that WEC Energy Group will post 4.88 earnings per share for the current year.

WEC Energy Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 14th will be given a dividend of $0.835 per share. This represents a $3.34 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date of this dividend is Monday, May 13th. WEC Energy Group’s dividend payout ratio is 79.15%.

Insider Buying and Selling

In related news, Chairman Gale E. Klappa sold 37,180 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $78.69, for a total transaction of $2,925,694.20. Following the transaction, the chairman now directly owns 274,782 shares of the company’s stock, valued at $21,622,595.58. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Chairman Gale E. Klappa sold 37,180 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $78.69, for a total transaction of $2,925,694.20. Following the transaction, the chairman now directly owns 274,782 shares of the company’s stock, valued at $21,622,595.58. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Scott J. Lauber sold 2,830 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $78.89, for a total transaction of $223,258.70. Following the transaction, the chief executive officer now directly owns 43,125 shares in the company, valued at $3,402,131.25. The disclosure for this sale can be found here. 0.34% of the stock is owned by insiders.

Hedge Funds Weigh In On WEC Energy Group

Several hedge funds have recently bought and sold shares of WEC. Confluence Investment Management LLC bought a new position in WEC Energy Group in the 1st quarter valued at about $127,945,000. American Century Companies Inc. increased its holdings in WEC Energy Group by 5,257.7% in the 3rd quarter. American Century Companies Inc. now owns 1,465,114 shares of the utilities provider’s stock valued at $118,015,000 after buying an additional 1,437,768 shares during the period. Clearbridge Investments LLC increased its holdings in WEC Energy Group by 763.5% in the 4th quarter. Clearbridge Investments LLC now owns 1,332,587 shares of the utilities provider’s stock valued at $112,164,000 after buying an additional 1,178,270 shares during the period. Renaissance Technologies LLC increased its holdings in WEC Energy Group by 563.3% in the 1st quarter. Renaissance Technologies LLC now owns 1,320,077 shares of the utilities provider’s stock valued at $131,757,000 after buying an additional 1,121,075 shares during the period. Finally, Envestnet Asset Management Inc. increased its holdings in WEC Energy Group by 93.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 1,665,038 shares of the utilities provider’s stock valued at $140,146,000 after buying an additional 803,718 shares during the period. 77.20% of the stock is owned by institutional investors.

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.