WEC Energy Group (NYSE:WEC – Get a Free Report) was downgraded to a “sell” rating by research analysts at StockNews.com in a research note issued to investors on Friday.
Several other research firms have also recently commented on WEC. KeyCorp decreased their price target on WEC Energy Group from $96.00 to $95.00 and gave the company an “overweight” rating in a research note on Monday, July 22nd. Wells Fargo & Company increased their price target on shares of WEC Energy Group from $93.00 to $98.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Barclays increased their price target on shares of WEC Energy Group from $80.00 to $86.00 and gave the company an “underweight” rating in a research report on Tuesday. BMO Capital Markets increased their price target on shares of WEC Energy Group from $87.00 to $91.00 and gave the stock a “market perform” rating in a report on Thursday, August 1st. Finally, Scotiabank decreased their price target on shares of WEC Energy Group from $96.00 to $90.00 and assigned a “sector outperform” rating on the stock in a report on Monday, April 22. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating. The company has an average rating of “Hold” and an average price target of $87.31, according to data from MarketBeat.
Check out our latest research report on WEC Energy Group
Price development of WEC Energy Group shares
WEC stock opened at $87.81 on Friday. The company has a debt-to-equity ratio of 1.37, a price-to-earnings ratio of 0.54 and a current ratio of 0.74. The company has a market cap of $27.73 billion, a price-to-earnings ratio of 19.17, a PEG ratio of 2.28 and a beta of 0.41. WEC Energy Group has a 52-week low of $75.13 and a 52-week high of $92.23. The company’s 50-day moving average is $81.19 and its 200-day moving average is $80.86.
WEC Energy Group (NYSE:WEC – Get Free Report) last released its quarterly earnings results on Wednesday, July 31. The energy provider reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $1.77 billion for the quarter, compared to analyst expectations of $1.87 billion. In the same quarter last year, the company reported earnings per share of $0.92. WEC Energy Group’s revenue declined 3.2% year-over-year. As a group, equities analysts forecast that WEC Energy Group will report earnings per share of $4.88 for the current year.
Insider activity
In other WEC Energy Group news, Vice President Anthony Reese sold 1,362 shares of WEC Energy Group stock in a transaction that occurred on Wednesday, August 7. The shares were sold at an average price of $88.78, for a total transaction of $120,918.36. Following the completion of the sale, the vice president now directly owns 1,462 shares of the company’s stock, valued at $129,796.36. The sale was disclosed in a document filed with the SEC, which is available on the SEC’s website. In other news, Vice President Anthony Reese sold 1,362 shares of the company’s stock in a transaction that occurred on Wednesday, August 7. The shares were 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 of the company’s stock, valued at approximately $129,796.36. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Vice President Joshua M. Erickson sold 350 shares of WEC Energy Group stock in a transaction dated Monday, August 5. The shares were sold at an average price of $89.75, for a total value of $31,412.50. Following the sale, the Vice President now directly owns 2,377 shares of the company’s stock, valued at approximately $213,335.75. The disclosure regarding this sale can be found here. Company insiders own 0.34% of the company’s stock.
Institutional inflows and outflows
A number of institutional investors and hedge funds have recently bought and sold shares of WEC. Principal Securities Inc. acquired a new stake in shares of WEC Energy Group during the 4th quarter valued at about $983,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of WEC Energy Group by 6.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 316,255 shares of the utility company’s stock valued at $27,391,000 after acquiring an additional 19,867 shares during the last quarter. Vaughan David Investments LLC IL increased its holdings in shares of WEC Energy Group by 3.4% during the 4th quarter. Vaughan David Investments LLC IL now owns 428,408 shares of the utility company’s stock valued at $36,059,000 after acquiring an additional 14,084 shares during the same period. Alley Investment Management Company LLC increased its stake in shares of WEC Energy Group by 324.5% in the 4th quarter. Alley Investment Management Company LLC now owns 39,256 shares of the utility company’s stock worth $3,304,000 after acquiring an additional 30,009 shares in the last quarter. Finally, Advisory Services Network LLC increased its stake in WEC Energy Group by 34.0% in the 4th quarter. Advisory Services Network LLC now owns 37,561 shares of the utility company’s stock worth $3,162,000 after acquiring an additional 9,526 shares during the same period. 77.20% of the shares are currently owned by institutional investors.
About WEC Energy Group
(Get free report)
WEC Energy Group, Inc., through its subsidiaries, provides regulated natural gas and electricity, as well as renewable and non-regulated renewable energy services in the United States. The Company operates through the Wisconsin, Illinois, Other States, Electric Transmission and Non-Public Energy Infrastructure segments.
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