Wells Fargo & Company Increases WEC Energy Group (NYSE:WEC) Price Target to $103.00

WEC Energy Group (NYSE:WEC) had its price target hoisted by equities researchers at Wells Fargo & Company from $98.00 to $103.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the utilities provider’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 10.80% from the stock’s current price.

Several other research analysts have also weighed in on the company. Barclays increased their target price on WEC Energy Group from $80.00 to $86.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 6th. BMO Capital Markets lifted their price objective on WEC Energy Group from $87.00 to $91.00 and gave the company a “market perform” rating in a research note on Thursday, August 1st. StockNews.com downgraded shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. KeyCorp reduced their price target on shares of WEC Energy Group from $96.00 to $95.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Finally, Scotiabank increased their price objective on shares of WEC Energy Group from $90.00 to $103.00 and gave the stock a “sector outperform” rating in a research report on Tuesday. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $88.69.

WEC Energy Group Stock Up 1.3 %

WEC stock opened at $92.96 on Wednesday. WEC Energy Group has a one year low of $75.13 and a one year high of $93.08. The stock has a market capitalization of $29.36 billion, a P/E ratio of 20.30, a PEG ratio of 2.31 and a beta of 0.41. The company has a 50 day moving average price of $83.14 and a two-hundred day moving average price of $81.55. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.54 and a current ratio of 0.74.

WEC Energy Group (NYSE:WEC) last released its earnings results on Wednesday, July 31st. The utilities provider reported $0.67 EPS for the quarter, beating the consensus estimate of $0.63 by $0.04. The firm had revenue of $1.77 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.92 earnings per share. As a group, sell-side analysts expect that WEC Energy Group will post 4.88 EPS for the current year.

Insider Buying and Selling at WEC Energy Group

In related news, VP Joshua M. Erickson sold 350 shares of WEC Energy Group stock in a transaction on Monday, August 5th. The shares were sold at an average price of $89.75, for a total value of $31,412.50. Following the completion of the sale, the vice president now owns 2,377 shares in the company, valued at $213,335.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, VP Anthony Reese sold 1,362 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $88.78, for a total transaction of $120,918.36. Following the completion of the transaction, the vice president now owns 1,462 shares of the company’s stock, valued at $129,796.36. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Joshua M. Erickson sold 350 shares of the firm’s stock in a transaction that occurred 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 owns 2,377 shares in the company, valued at approximately $213,335.75. The disclosure for this sale can be found here. Insiders sold a total of 2,462 shares of company stock worth $218,668 in the last 90 days. 0.34% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On WEC Energy Group

Several large investors have recently bought and sold shares of WEC. Northern Trust Corp lifted its position in shares of WEC Energy Group by 2.9% in the 4th quarter. Northern Trust Corp now owns 4,071,148 shares of the utilities provider’s stock valued at $342,669,000 after acquiring an additional 116,219 shares in the last quarter. American Century Companies Inc. boosted its position in WEC Energy Group by 36.7% during the second quarter. American Century Companies Inc. now owns 2,566,001 shares of the utilities provider’s stock valued at $201,328,000 after purchasing an additional 688,812 shares during the last quarter. Earnest Partners LLC grew its stake in shares of WEC Energy Group by 11.8% in the 2nd quarter. Earnest Partners LLC now owns 1,954,778 shares of the utilities provider’s stock valued at $153,372,000 after buying an additional 206,637 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in WEC Energy Group by 3.5% during the second quarter. Envestnet Asset Management Inc. now owns 1,782,939 shares of the utilities provider’s stock valued at $139,889,000 after buying an additional 61,019 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in WEC Energy Group by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,777,770 shares of the utilities provider’s stock worth $149,635,000 after purchasing an additional 51,540 shares during the period. 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.