Deutsche Bank reiterated their hold rating on shares of Wisconsin Energy Corp. (NYSE:WEC) in a research note released on Wednesday morning, Stock Ratings News reports. They currently have a $43.00 target price on the stock, up from their previous target price of $42.00.
“With utilities set to finish the year last among sectors for the second straight year, it is surely tempting to argue for a rebound in 2014. But with the Fed exit still in front of us and a continuing overhang from challenging power business fundamentals, investors have plenty of reason to proceed with caution. Compared to April when Fed taper talk began, utilities are at least much better relative value (P/E parity vs. ~20% premium) and closer to their lows in terms of mutual fund positioning. A market growth stall might be utilities’ best hope for a winning 2014; in the meantime, we continue to counsel selectivity, mostly favoring better growth or value catalysts over pure defensiveness and yield.,” Deutsche Bank’s analyst commented.
Other equities research analysts have also recently issued reports about the stock. Analysts at CRT Capital initiated coverage on shares of Wisconsin Energy Corp. in a research note to investors on Tuesday, November 5th. They set a buy rating on the stock. Separately, analysts at Zacks reiterated a neutral rating on shares of Wisconsin Energy Corp. in a research note to investors on Thursday, October 31st. They now have a $44.00 price target on the stock. Finally, analysts at Barclays raised their price target on shares of Wisconsin Energy Corp. from $44.00 to $47.00 in a research note to investors on Thursday, October 31st. They now have an overweight rating on the stock. Eleven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Wisconsin Energy Corp. currently has a consensus rating of Hold and a consensus price target of $44.70.
Shares of Wisconsin Energy Corp. (NYSE:WEC) traded up 0.62% on Wednesday, hitting $40.82. 277,831 shares of the company’s stock traded hands. Wisconsin Energy Corp. has a one year low of $36.16 and a one year high of $45.00. The stock has a 50-day moving average of $41.88 and a 200-day moving average of $41.46. The company has a market cap of $9.247 billion and a price-to-earnings ratio of 17.58.
Wisconsin Energy Corp. (NYSE:WEC) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.60 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.56 by $0.04. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the previous year, the company posted $0.67 earnings per share. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. On average, analysts predict that Wisconsin Energy Corp. will post $2.46 earnings per share for the current fiscal year.
Wisconsin Energy Corporation is a diversified holding company. The Company operates primarily through two segments: a utility energy segment and a non-utility energy segment.
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