WEC Energy Group (NYSE:WEC) PT Lowered to $95.00 at KeyCorp

WEC Energy Group (NYSE:WEC) had its price objective trimmed by KeyCorp from $96.00 to $95.00 in a research report report published on Monday morning, Benzinga reports. The brokerage currently has an overweight rating on the utilities provider’s stock. KeyCorp also issued estimates for WEC Energy Group’s Q2 2024 earnings at $0.64 EPS, Q3 2024 earnings at $1.11 EPS, Q4 2024 earnings at $1.16 EPS and FY2028 earnings at $6.26 EPS.

Several other equities research analysts have also commented on WEC. StockNews.com upgraded WEC Energy Group from a sell rating to a hold rating in a research report on Thursday, May 9th. The Goldman Sachs Group started coverage on WEC Energy Group in a research report on Wednesday, April 10th. They set a neutral rating and a $88.00 target price on the stock. Barclays upped their target price on WEC Energy Group from $78.00 to $80.00 and gave the company an underweight rating in a research report on Monday. Scotiabank cut their target price on WEC Energy Group from $96.00 to $90.00 and set a sector outperform rating on the stock in a research report on Monday, April 22nd. Finally, BMO Capital Markets cut their target price on WEC Energy Group from $90.00 to $87.00 and set a market perform rating on the stock in a research report on Monday. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, WEC Energy Group has an average rating of Hold and a consensus target price of $86.00.

WEC Energy Group Trading Up 2.2 %

NYSE WEC opened at $83.57 on Monday. The business’s 50-day moving average price is $80.13 and its two-hundred day moving average price is $80.54. WEC Energy Group has a 12 month low of $75.13 and a 12 month high of $93.37. The firm has a market capitalization of $26.39 billion, a PE ratio of 18.25, a price-to-earnings-growth ratio of 2.12 and a beta of 0.41. 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 released its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $1.97 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.92 billion. During the same quarter in the previous year, the company posted $1.61 EPS. The business’s revenue was down 7.2% on a year-over-year basis. On average, analysts expect that WEC Energy Group will post 4.88 EPS for the current year.

WEC Energy Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 14th will be given a dividend of $0.835 per share. This represents a $3.34 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date is Wednesday, August 14th. WEC Energy Group’s payout ratio is 72.93%.

Institutional Trading of WEC Energy Group

A number of institutional investors and hedge funds have recently modified their holdings of WEC. Confluence Investment Management LLC purchased a new stake in WEC Energy Group in the first quarter worth $127,945,000. Clearbridge Investments LLC increased its position in WEC Energy Group by 763.5% in the fourth quarter. Clearbridge Investments LLC now owns 1,332,587 shares of the utilities provider’s stock worth $112,164,000 after buying an additional 1,178,270 shares during the last quarter. Envestnet Asset Management Inc. increased its position in WEC Energy Group by 93.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,665,038 shares of the utilities provider’s stock worth $140,146,000 after buying an additional 803,718 shares during the last quarter. Earnest Partners LLC boosted its holdings in shares of WEC Energy Group by 36.0% in the first quarter. Earnest Partners LLC now owns 1,748,141 shares of the utilities provider’s stock worth $143,557,000 after acquiring an additional 462,646 shares during the period. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings in shares of WEC Energy Group by 2,122.2% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 441,603 shares of the utilities provider’s stock worth $37,170,000 after acquiring an additional 421,731 shares during the period. 77.20% of the stock is owned by hedge funds and other institutional investors.

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.