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 report released on Friday morning, Benzinga reports. KeyCorp currently has an overweight rating on the utilities provider’s stock.

Other analysts have also issued reports about the company. JPMorgan Chase & Co. lowered WEC Energy Group from a neutral rating to an underweight rating and dropped their target price for the stock from $90.00 to $84.00 in a report on Friday, February 2nd. The Goldman Sachs Group began coverage on WEC Energy Group in a report on Wednesday, April 10th. They set a neutral rating and a $88.00 target price on the stock. Barclays dropped their target price on WEC Energy Group from $79.00 to $75.00 and set an underweight rating on the stock in a report on Thursday, February 8th. Royal Bank of Canada dropped their target price on WEC Energy Group from $95.00 to $90.00 and set a sector perform rating on the stock in a report on Thursday, February 8th. Finally, StockNews.com lowered WEC Energy Group from a hold rating to a sell rating in a report on Saturday, January 13th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average target price of $86.38.

WEC Energy Group Trading 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 stock has a market cap of $25.73 billion, a price-to-earnings ratio of 19.33, a PEG ratio of 2.80 and a beta of 0.40. The company has a quick ratio of 0.40, a current ratio of 0.55 and a debt-to-equity ratio of 1.29. The business has a 50-day moving average price of $79.78 and a 200-day moving average price of $81.34.

WEC Energy Group (NYSE:WEC) last announced 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 return on equity of 12.17% and a net margin of 14.98%. The firm had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.82 billion. During the same period last year, the business posted $0.80 earnings per share. The company’s revenue for the quarter was down 13.3% compared to the same quarter last year. Equities analysts predict that WEC Energy Group will post 4.88 EPS for the current year.

WEC Energy Group Announces Dividend

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

Insider Transactions at WEC Energy Group

In related news, Chairman Gale E. Klappa sold 37,180 shares of WEC Energy Group stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $78.69, for a total transaction of $2,925,694.20. Following the transaction, the chairman now owns 274,782 shares in the company, valued at $21,622,595.58. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other WEC Energy Group news, CEO Scott J. Lauber sold 2,830 shares of WEC Energy Group stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $78.89, for a total value of $223,258.70. Following the sale, the chief executive officer now owns 43,125 shares in the company, valued at $3,402,131.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Gale E. Klappa sold 37,180 shares of WEC Energy Group stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $78.69, for a total value of $2,925,694.20. Following the completion of the sale, the chairman now directly owns 274,782 shares of the company’s stock, valued at $21,622,595.58. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On WEC Energy Group

A number of institutional investors have recently modified their holdings of the company. Geode Capital Management LLC grew its stake in shares of WEC Energy Group by 1.0% in the first quarter. Geode Capital Management LLC now owns 6,805,548 shares of the utilities provider’s stock valued at $643,696,000 after buying an additional 69,710 shares in the last quarter. Deutsche Bank AG grew its stake in WEC Energy Group by 3.0% during the 3rd quarter. Deutsche Bank AG now owns 5,495,925 shares of the utilities provider’s stock worth $442,697,000 after purchasing an additional 158,652 shares in the last quarter. JPMorgan Chase & Co. grew its stake in WEC Energy Group by 3.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,295,729 shares of the utilities provider’s stock worth $346,021,000 after purchasing an additional 142,412 shares in the last quarter. Invesco Ltd. grew its stake in WEC Energy Group by 3.8% during the 3rd quarter. Invesco Ltd. now owns 4,216,264 shares of the utilities provider’s stock worth $339,620,000 after purchasing an additional 155,437 shares in the last quarter. Finally, Northern Trust Corp grew its stake in WEC Energy Group by 2.9% during the 4th quarter. Northern Trust Corp now owns 4,071,148 shares of the utilities provider’s stock worth $342,669,000 after purchasing an additional 116,219 shares in the last quarter. 77.20% of the stock is owned by institutional investors and hedge funds.

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.