WEC Energy Group (NYSE:WEC) PT Raised to $98.00

WEC Energy Group (NYSE:WEC) had its price objective lifted by Wells Fargo & Company from $93.00 to $98.00 in a report released on Thursday morning, Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

Other equities research analysts have also issued research reports about the stock. StockNews.com upgraded shares of WEC Energy Group from a sell rating to a hold rating in a report on Thursday. Barclays raised their price objective on shares of WEC Energy Group from $78.00 to $80.00 and gave the stock an underweight rating in a research note on Monday, July 22nd. 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 note on Monday, April 22nd. KeyCorp decreased their price target on WEC Energy Group from $96.00 to $95.00 and set an overweight rating for the company in a research note on Monday, July 22nd. Finally, The Goldman Sachs Group assumed coverage on WEC Energy Group in a research report on Wednesday, April 10th. They issued a neutral rating and a $88.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, WEC Energy Group currently has an average rating of Hold and a consensus target price of $86.85.

WEC Energy Group Stock Up 1.6 %

Shares of WEC opened at $90.16 on Thursday. The business’s 50 day moving average is $80.49 and its 200 day moving average is $80.64. The company has a current ratio of 0.74, a quick ratio of 0.42 and a debt-to-equity ratio of 1.37. WEC Energy Group has a 12-month low of $75.13 and a 12-month high of $92.23. The company has a market capitalization of $28.50 billion, a PE ratio of 19.69, a price-to-earnings-growth ratio of 2.33 and a beta of 0.41.

WEC Energy Group (NYSE:WEC) last posted its earnings results on Wednesday, July 31st. The utilities provider reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. WEC Energy Group had a return on equity of 12.26% and a net margin of 15.85%. The company had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the previous year, the business earned $0.92 earnings per share. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. Research analysts expect that WEC Energy Group will post 4.88 earnings per share for the current fiscal year.

WEC Energy Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Wednesday, August 14th will be paid a dividend of $0.835 per share. The ex-dividend date is Wednesday, August 14th. This represents a $3.34 annualized dividend and a yield of 3.70%. WEC Energy Group’s dividend payout ratio (DPR) is currently 72.93%.

Hedge Funds Weigh In On WEC Energy Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Opal Wealth Advisors LLC purchased a new position in WEC Energy Group in the 1st quarter valued at $25,000. Northwest Bank & Trust Co acquired a new position in WEC Energy Group during the fourth quarter worth about $25,000. Tennessee Valley Asset Management Partners acquired a new stake in WEC Energy Group in the 4th quarter valued at about $26,000. First United Bank & Trust purchased a new position in WEC Energy Group in the 4th quarter worth approximately $30,000. Finally, Olistico Wealth LLC acquired a new position in shares of WEC Energy Group during the 2nd quarter worth approximately $29,000. Hedge funds and other 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.