Analysts Set WEC Energy Group, Inc. (NYSE:WEC) Target Price at $104.38

WEC Energy Group, Inc. (NYSE:WEC) has received an average recommendation of “Hold” from the eight ratings firms that are currently covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $104.38.

Several research firms recently commented on WEC. 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 report on Wednesday, February 5th. Barclays upgraded WEC Energy Group from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $89.00 to $93.00 in a report on Thursday, January 2nd. JPMorgan Chase & Co. upgraded WEC Energy Group from an “underweight” rating to a “neutral” rating and increased their target price for the company from $106.00 to $108.00 in a report on Tuesday, April 8th. StockNews.com raised WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, Wells Fargo & Company increased their price objective on WEC Energy Group from $112.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th.

Insider Buying and Selling at WEC Energy Group

In other WEC Energy Group news, Director Ulice Payne, Jr. sold 1,150 shares of WEC Energy Group stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $104.17, for a total transaction of $119,795.50. Following the sale, the director now directly owns 21,951 shares of the company’s stock, valued at approximately $2,286,635.67. The trade was a 4.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gale E. Klappa sold 25,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $108.62, for a total value of $2,715,500.00. Following the completion of the transaction, the director now directly owns 274,955 shares of the company’s stock, valued at $29,865,612.10. This represents a 8.33 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Larson Financial Group LLC increased its stake in shares of WEC Energy Group by 3,828.6% during the fourth 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 in the last quarter. Prudent Man Investment Management Inc. purchased a new stake in shares of WEC Energy Group in the 4th quarter worth approximately $28,000. Opal Wealth Advisors LLC bought a new position in WEC Energy Group during the 1st quarter valued at approximately $32,000. Hoey Investments Inc. purchased a new position in WEC Energy Group during the fourth quarter valued at $42,000. Finally, Human Investing LLC bought a new stake in WEC Energy Group in the fourth quarter worth $52,000. 77.20% of the stock is currently owned by institutional investors.

WEC Energy Group Stock Performance

NYSE WEC opened at $107.41 on Friday. The company has a fifty day moving average of $105.61 and a 200-day moving average of $100.02. WEC Energy Group has a 52-week low of $77.47 and a 52-week high of $111.00. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.43 and a current ratio of 0.60. The company has a market capitalization of $34.27 billion, a P/E ratio of 22.24, a P/E/G ratio of 2.60 and a beta of 0.44.

WEC Energy Group (NYSE:WEC) last released its 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 during the quarter, compared to the consensus estimate of $2.50 billion. WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. During the same quarter in the previous year, the firm earned $1.10 EPS. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. As a group, equities research analysts predict that WEC Energy Group will post 5.23 EPS for the current fiscal year.

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.