WEC Energy Group (NYSE:WEC) Price Target Increased to $103.00 by Analysts at KeyCorp

WEC Energy Group (NYSE:WEC) had its price target raised by KeyCorp from $98.00 to $103.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an overweight rating on the utilities provider’s stock.

Other analysts also recently issued reports about the stock. Bank of America boosted their target price on shares of WEC Energy Group from $88.00 to $90.00 and gave the stock an underperform rating in a research report on Thursday, August 29th. Wells Fargo & Company upped their price target on WEC Energy Group from $98.00 to $103.00 and gave the stock an overweight rating in a research note on Wednesday, August 21st. BMO Capital Markets increased their price objective on WEC Energy Group from $91.00 to $93.00 and gave the company a market perform rating in a report on Friday, August 23rd. Scotiabank boosted their target price on WEC Energy Group from $90.00 to $103.00 and gave the stock a sector outperform rating in a report on Tuesday, August 20th. Finally, StockNews.com downgraded WEC Energy Group from a hold rating to a sell rating in a report on Friday, August 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. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $91.69.

WEC Energy Group Stock Performance

Shares of WEC opened at $96.31 on Monday. The company has a market capitalization of $30.42 billion, a PE ratio of 21.03, a PEG ratio of 2.45 and a beta of 0.44. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.54 and a current ratio of 0.74. The company’s 50 day moving average price is $92.21 and its 200 day moving average price is $84.83. WEC Energy Group has a 52 week low of $75.13 and a 52 week high of $97.08.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. The company had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.87 billion. WEC Energy Group had a return on equity of 12.26% and a net margin of 15.85%. The business’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period last year, the business earned $0.92 EPS. Research analysts expect that WEC Energy Group will post 4.87 EPS for the current fiscal year.

WEC Energy Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 14th were issued a dividend of $0.835 per share. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $3.34 annualized dividend and a dividend yield of 3.47%. WEC Energy Group’s payout ratio is 72.93%.

Insider Activity at WEC Energy Group

In related news, VP Mary Beth Straka sold 3,240 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $93.04, for a total transaction of $301,449.60. Following the transaction, the vice president now directly owns 3,662 shares in the company, valued at $340,712.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP Mary Beth Straka sold 3,240 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $93.04, for a total value of $301,449.60. Following the completion of the transaction, the vice president now directly owns 3,662 shares of the company’s stock, valued at $340,712.48. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Joshua M. Erickson sold 350 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $89.75, for a total transaction of $31,412.50. Following the completion of the sale, the vice president now directly owns 2,377 shares in the company, valued at approximately $213,335.75. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,702 shares of company stock worth $1,078,058. Company insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Northwest Bank & Trust Co acquired a new position in shares of WEC Energy Group in the 4th quarter worth approximately $25,000. Opal Wealth Advisors LLC acquired a new position in WEC Energy Group during the first quarter worth $25,000. Global X Japan Co. Ltd. lifted its holdings in shares of WEC Energy Group by 58.1% during the second quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 118 shares during the period. Olistico Wealth LLC acquired a new stake in shares of WEC Energy Group in the 2nd quarter valued at $29,000. Finally, William B. Walkup & Associates Inc. acquired a new stake in shares of WEC Energy Group in the 2nd quarter valued at $31,000. Institutional investors 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.