WEC Energy Group (NYSE:WEC) Lifted to Hold at StockNews.com

WEC Energy Group (NYSE:WEC) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Thursday.

WEC has been the topic of several other research reports. The Goldman Sachs Group assumed coverage on WEC Energy Group in a research note on Wednesday, April 10th. They issued a “neutral” rating and a $88.00 price target on the stock. KeyCorp boosted their price target on shares of WEC Energy Group from $95.00 to $96.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Wells Fargo & Company decreased their price objective on shares of WEC Energy Group from $93.00 to $91.00 and set an “overweight” rating on the stock in a report on Friday, February 2nd. Barclays dropped their target price on shares of WEC Energy Group from $79.00 to $75.00 and set an “underweight” rating for the company in a report on Thursday, February 8th. Finally, Royal Bank of Canada decreased their price target on WEC Energy Group from $95.00 to $90.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 8th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $86.29.

WEC Energy Group Price Performance

WEC stock traded up $0.69 during midday trading on Thursday, reaching $85.60. The stock had a trading volume of 1,542,679 shares, compared to its average volume of 2,117,048. WEC Energy Group has a 52-week low of $75.13 and a 52-week high of $95.70. The company has a market cap of $27.03 billion, a price-to-earnings ratio of 18.69, a price-to-earnings-growth ratio of 2.37 and a beta of 0.40. The company’s fifty day simple moving average is $81.09 and its 200 day simple moving average is $81.46. The company has a current ratio of 0.55, a quick ratio of 0.42 and a debt-to-equity ratio of 1.24.

WEC Energy Group (NYSE:WEC) last issued its earnings results on Wednesday, May 1st. The utilities provider reported $1.97 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.07. WEC Energy Group had a return on equity of 13.01% and a net margin of 16.67%. The business had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.92 billion. During the same period in the previous year, the firm posted $1.61 EPS. The business’s revenue for the quarter was down 7.2% compared to the same quarter last year. As a group, sell-side analysts predict that WEC Energy Group will post 4.87 earnings per share for the current fiscal year.

Insider Transactions at WEC Energy Group

In other news, CEO Scott J. Lauber sold 2,830 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $78.89, for a total value of $223,258.70. Following the completion of the sale, the chief executive officer now owns 43,125 shares in the company, valued at approximately $3,402,131.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Scott J. Lauber sold 2,830 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 43,125 shares of the company’s stock, valued at approximately $3,402,131.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Gale E. Klappa sold 37,180 shares of WEC Energy Group stock in a transaction that occurred 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 owns 274,782 shares in the company, valued at $21,622,595.58. The disclosure for this sale can be found here. Company insiders own 0.44% of the company’s stock.

Institutional Investors Weigh In On WEC Energy Group

Institutional investors and hedge funds have recently modified their holdings of the company. Orion Portfolio Solutions LLC grew its stake in WEC Energy Group by 43.2% in the 1st quarter. Orion Portfolio Solutions LLC now owns 44,749 shares of the utilities provider’s stock valued at $3,675,000 after acquiring an additional 13,504 shares during the last quarter. Blair William & Co. IL raised its position in shares of WEC Energy Group by 0.8% during the 1st quarter. Blair William & Co. IL now owns 45,339 shares of the utilities provider’s stock worth $3,723,000 after purchasing an additional 347 shares during the last quarter. HBK Sorce Advisory LLC lifted its stake in WEC Energy Group by 19.1% in the 1st quarter. HBK Sorce Advisory LLC now owns 4,056 shares of the utilities provider’s stock valued at $333,000 after buying an additional 650 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in WEC Energy Group by 23.4% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 390,184 shares of the utilities provider’s stock valued at $32,042,000 after buying an additional 73,929 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System raised its holdings in shares of WEC Energy Group by 20.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 423,718 shares of the utilities provider’s stock worth $34,796,000 after acquiring an additional 71,439 shares during the last quarter. Institutional investors and hedge funds own 77.20% of the company’s stock.

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.