WEC Energy Group, Inc. (NYSE:WEC) Receives Average Recommendation of “Hold” from Analysts

Posted by on Jun 7th, 2023

Shares of WEC Energy Group, Inc. (NYSE:WEC – Get Rating) have been assigned a consensus recommendation of “Hold” from the thirteen ratings firms that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $100.10.

Several brokerages have recently weighed in on WEC. 888 restated a “maintains” rating on shares of WEC Energy Group in a research note on Wednesday, May 3rd. StockNews.com began coverage on shares of WEC Energy Group in a research note on Thursday, May 18th. They issued a “sell” rating for the company. JPMorgan Chase & Co. upped their target price on shares of WEC Energy Group from $99.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, April 19th. Mizuho upgraded shares of WEC Energy Group from a “neutral” rating to a “buy” rating and set a $98.00 target price for the company in a research note on Thursday, May 18th. Finally, Bank of America decreased their target price on shares of WEC Energy Group from $106.00 to $103.00 in a research note on Wednesday, May 3rd.

WEC Energy Group Price Performance

WEC Energy Group stock opened at $87.53 on Wednesday. WEC Energy Group has a 52-week low of $80.82 and a 52-week high of $108.20. The firm has a fifty day moving average of $93.51 and a 200-day moving average of $93.67. The firm has a market capitalization of $27.61 billion, a P/E ratio of 20.45, a PEG ratio of 3.29 and a beta of 0.41. The company has a quick ratio of 0.61, a current ratio of 0.75 and a debt-to-equity ratio of 1.32.

WEC Energy Group (NYSE:WEC – Get Rating) last released its quarterly earnings data on Monday, May 1st. The utilities provider reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.03. WEC Energy Group had a net margin of 14.10% and a return on equity of 11.60%. The company had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.90 billion. During the same quarter in the prior year, the business earned $1.79 earnings per share. The business’s quarterly revenue was down .7% compared to the same quarter last year. As a group, analysts predict that WEC Energy Group will post 4.6 EPS for the current year.

WEC Energy Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Investors of record on Friday, May 12th were given a $0.78 dividend. The ex-dividend date of this dividend was Thursday, May 11th. This represents a $3.12 annualized dividend and a yield of 3.56%. WEC Energy Group’s dividend payout ratio is presently 72.90%.

Insider Activity at WEC Energy Group

In related news, Director Ulice Payne, Jr. sold 1,500 shares of WEC Energy Group stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $94.36, for a total value of $141,540.00. Following the sale, the director now directly owns 21,503 shares in the company, valued at approximately $2,029,023.08. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.34% of the stock is currently owned by insiders.

Institutional Trading of WEC Energy Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Van ECK Associates Corp raised its holdings in shares of WEC Energy Group by 18.5% in the 4th quarter. Van ECK Associates Corp now owns 75,940 shares of the utilities provider’s stock worth $7,120,000 after purchasing an additional 11,855 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its position in shares of WEC Energy Group by 84.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 270,615 shares of the utilities provider’s stock worth $25,373,000 after acquiring an additional 124,253 shares in the last quarter. Metis Global Partners LLC increased its position in shares of WEC Energy Group by 39.5% in the fourth quarter. Metis Global Partners LLC now owns 6,535 shares of the utilities provider’s stock worth $613,000 after acquiring an additional 1,852 shares in the last quarter. Commonwealth Equity Services LLC increased its position in shares of WEC Energy Group by 6.7% in the fourth quarter. Commonwealth Equity Services LLC now owns 147,817 shares of the utilities provider’s stock worth $13,859,000 after acquiring an additional 9,344 shares in the last quarter. Finally, Dfpg Investments LLC purchased a new position in shares of WEC Energy Group in the fourth quarter worth approximately $220,000. 74.05% of the stock is currently owned by institutional investors.

WEC Energy Group Company Profile

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WEC Energy Group, Inc is a holding company, which engages in the generation and distribution of electricity and natural gas. It operates through the following segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure and Corporate & Other. The Wisconsin segment refers to the electric and gas utility operations.

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Analyst Recommendations for WEC Energy Group (NYSE:WEC)

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