WEC Energy Group (NYSE:WEC) Price Target Lowered to $87.00 at BMO Capital Markets

WEC Energy Group (NYSE:WEC) had its target price lowered by BMO Capital Markets from $90.00 to $87.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a market perform rating on the utilities provider’s stock.

WEC has been the topic of a number of other research reports. KeyCorp increased their target price on WEC Energy Group from $95.00 to $96.00 and gave the stock an overweight rating in a report on Friday, April 19th. Scotiabank reduced their price objective on WEC Energy Group from $96.00 to $90.00 and set a sector outperform rating on the stock in a research note on Monday, April 22nd. The Goldman Sachs Group began coverage on shares of WEC Energy Group in a research note on Wednesday, April 10th. They set a neutral rating and a $88.00 target price for the company. Finally, StockNews.com upgraded shares of WEC Energy Group from a sell rating to a hold rating in a research report on Thursday, May 9th. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $86.00.

WEC Energy Group Stock Performance

Shares of WEC opened at $83.32 on Monday. The firm has a market cap of $26.31 billion, a price-to-earnings ratio of 18.19, a PEG ratio of 2.11 and a beta of 0.41. The company has a quick ratio of 0.42, a current ratio of 0.55 and a debt-to-equity ratio of 1.24. The business’s 50 day moving average is $80.09 and its two-hundred day moving average is $80.56. WEC Energy Group has a 52-week low of $75.13 and a 52-week high of $93.37.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $1.97 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.07. The firm had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.92 billion. WEC Energy Group had a net margin of 16.67% and a return on equity of 13.01%. The firm’s revenue was down 7.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.61 EPS. Analysts forecast that WEC Energy Group will post 4.88 EPS for the current fiscal year.

WEC Energy Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Wednesday, August 14th will be given a dividend of $0.835 per share. The ex-dividend date is Wednesday, August 14th. This represents a $3.34 annualized dividend and a dividend yield of 4.01%. WEC Energy Group’s dividend payout ratio is presently 72.93%.

Institutional Trading of WEC Energy Group

Several large investors have recently added to or reduced their stakes in the business. Northwest Bank & Trust Co bought a new position in shares of WEC Energy Group in the fourth quarter worth $25,000. Opal Wealth Advisors LLC bought a new position in WEC Energy Group in the 1st quarter valued at about $25,000. Tennessee Valley Asset Management Partners bought a new position in WEC Energy Group in the 4th quarter valued at about $26,000. Olistico Wealth LLC acquired a new position in WEC Energy Group during the 2nd quarter valued at about $29,000. Finally, First United Bank & Trust bought a new stake in shares of WEC Energy Group during the 4th quarter worth about $30,000. 77.20% of the stock is currently owned by institutional investors and hedge funds.

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.