KeyCorp Increases WEC Energy Group (NYSE:WEC) Price Target to $103.00

WEC Energy Group (NYSE:WEC) had its price objective increased by investment analysts at KeyCorp from $98.00 to $103.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the utilities provider’s stock. KeyCorp’s target price indicates a potential upside of 6.46% from the stock’s current price.

A number of other brokerages also recently issued reports on WEC. Jefferies Financial Group assumed coverage on WEC Energy Group in a research report on Thursday, September 19th. They set a “hold” rating and a $102.00 price target on the stock. BMO Capital Markets increased their target price on WEC Energy Group from $91.00 to $93.00 and gave the stock a “market perform” rating in a report on Friday, August 23rd. Barclays boosted their price target on WEC Energy Group from $80.00 to $86.00 and gave the company an “underweight” rating in a research note on Tuesday, August 6th. Scotiabank increased their price objective on shares of WEC Energy Group from $90.00 to $103.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. Finally, Bank of America raised their target price on shares of WEC Energy Group from $88.00 to $90.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $91.69.

WEC Energy Group Stock Up 0.6 %

WEC opened at $96.75 on Monday. The stock has a fifty day moving average of $91.70 and a 200-day moving average of $84.66. The company has a market capitalization of $30.58 billion, a P/E ratio of 21.12, a P/E/G ratio of 2.45 and a beta of 0.44. WEC Energy Group has a fifty-two week low of $75.13 and a fifty-two week high of $97.08. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.54 and a current ratio of 0.74.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.04. WEC Energy Group had a net margin of 15.85% and a return on equity of 12.26%. The business had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter in the previous year, the company earned $0.92 EPS. The business’s revenue was down 3.2% on a year-over-year basis. On average, equities analysts expect that WEC Energy Group will post 4.87 EPS for the current year.

Insider Buying and Selling at WEC Energy Group

In related news, VP Joshua M. Erickson sold 350 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $89.75, for a total transaction of $31,412.50. Following the sale, the vice president now owns 2,377 shares in the company, valued at approximately $213,335.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP Joshua M. Erickson sold 350 shares of WEC Energy Group stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $89.75, for a total transaction of $31,412.50. Following the sale, the vice president now directly owns 2,377 shares in the company, valued at approximately $213,335.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Anthony Reese sold 1,362 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $88.78, for a total transaction of $120,918.36. Following the sale, the vice president now directly owns 1,462 shares in the company, valued at $129,796.36. The disclosure for this sale can be found here. Insiders have sold 11,702 shares of company stock worth $1,078,058 over the last quarter. Corporate insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Park National Corp OH raised its holdings in WEC Energy Group by 3.4% during the 3rd quarter. Park National Corp OH now owns 3,964 shares of the utilities provider’s stock worth $381,000 after purchasing an additional 130 shares during the last quarter. Neville Rodie & Shaw Inc. acquired a new position in WEC Energy Group in the third quarter valued at $200,000. Sanctuary Advisors LLC bought a new stake in WEC Energy Group during the second quarter valued at $6,445,000. Strategic Investment Solutions Inc. IL bought a new position in shares of WEC Energy Group in the 2nd quarter worth about $38,000. Finally, Clearbridge Investments LLC lifted its stake in shares of WEC Energy Group by 1.7% in the 2nd quarter. Clearbridge Investments LLC now owns 1,355,909 shares of the utilities provider’s stock valued at $106,385,000 after purchasing an additional 22,026 shares during the period. 77.20% of the stock is owned by institutional investors and hedge funds.

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.