WEC Energy Group (NYSE:WEC) Stock Rating Lowered by Wall Street Zen

WEC Energy Group (NYSE:WEC) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

A number of other research analysts also recently issued reports on the stock. Wells Fargo & Company initiated coverage on shares of WEC Energy Group in a research report on Monday, October 27th. They set an “overweight” rating and a $124.00 price objective on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of WEC Energy Group in a research report on Wednesday, October 8th. Royal Bank Of Canada set a $131.00 price objective on shares of WEC Energy Group in a research report on Monday, October 27th. LADENBURG THALM/SH SH raised shares of WEC Energy Group from a “neutral” rating to a “buy” rating in a research report on Monday, October 13th. Finally, Cowen initiated coverage on shares of WEC Energy Group in a research report on Wednesday, October 15th. They set a “hold” rating on the stock. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, WEC Energy Group currently has an average rating of “Moderate Buy” and an average price target of $120.21.

WEC Energy Group Trading Down 0.8%

NYSE:WEC opened at $111.74 on Friday. The company has a quick ratio of 0.33, a current ratio of 0.50 and a debt-to-equity ratio of 1.29. The company has a fifty day moving average of $111.92 and a 200 day moving average of $108.69. The firm has a market capitalization of $35.97 billion, a P/E ratio of 21.12, a P/E/G ratio of 3.15 and a beta of 0.48. WEC Energy Group has a 52 week low of $91.94 and a 52 week high of $118.18.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data on Tuesday, September 2nd. The utilities provider reported $1.43 earnings per share (EPS) for the quarter. The business had revenue of $2.28 billion for the quarter. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.60%. On average, research analysts predict that WEC Energy Group will post 5.23 earnings per share for the current year.

Insider Activity

In related news, Director Ulice Payne, Jr. sold 1,620 shares of the stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $111.00, for a total transaction of $179,820.00. Following the sale, the director directly owned 20,360 shares of the company’s stock, valued at approximately $2,259,960. This represents a 7.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Scott J. Lauber sold 9,231 shares of the stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $110.88, for a total transaction of $1,023,533.28. Following the sale, the chief executive officer directly owned 56,443 shares in the company, valued at $6,258,399.84. This trade represents a 14.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On WEC Energy Group

Several hedge funds and other institutional investors have recently bought and sold shares of WEC. Vanguard Group Inc. grew its holdings in WEC Energy Group by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 39,945,761 shares of the utilities provider’s stock valued at $4,162,348,000 after buying an additional 816,243 shares in the last quarter. Geode Capital Management LLC grew its holdings in WEC Energy Group by 2.8% during the 2nd quarter. Geode Capital Management LLC now owns 8,594,608 shares of the utilities provider’s stock valued at $892,020,000 after buying an additional 235,653 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in WEC Energy Group by 34.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,213,304 shares of the utilities provider’s stock valued at $567,727,000 after buying an additional 1,349,522 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in WEC Energy Group by 16.6% during the 1st quarter. JPMorgan Chase & Co. now owns 5,103,604 shares of the utilities provider’s stock valued at $556,191,000 after buying an additional 726,267 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in WEC Energy Group by 0.8% during the 1st quarter. Ameriprise Financial Inc. now owns 4,274,385 shares of the utilities provider’s stock valued at $466,451,000 after buying an additional 33,810 shares in the last quarter. Institutional investors own 77.20% of the company’s stock.

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.