KeyCorp Boosts WEC Energy Group (NYSE:WEC) Price Target to $103.00

WEC Energy Group (NYSE:WEC) had its target price raised by KeyCorp from $98.00 to $103.00 in a report released on Monday, Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

WEC has been the subject of a number of other research reports. Scotiabank boosted their price objective on shares of WEC Energy Group from $90.00 to $103.00 and gave the company a sector outperform rating in a research report on Tuesday, August 20th. BMO Capital Markets increased their price target on WEC Energy Group from $91.00 to $93.00 and gave the stock a market perform rating in a research report on Friday, August 23rd. StockNews.com downgraded WEC Energy Group from a hold rating to a sell rating in a report on Friday, August 9th. Jefferies Financial Group initiated coverage on WEC Energy Group in a research note on Thursday, September 19th. They set a hold rating and a $102.00 price objective for the company. Finally, Bank of America raised their target price on WEC Energy Group from $88.00 to $90.00 and gave the company an underperform rating in a research note on Thursday, August 29th. 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 stock. According to data from MarketBeat.com, the stock has an average rating of Hold and an average price target of $91.69.

WEC Energy Group Trading Down 0.5 %

NYSE:WEC opened at $96.26 on Monday. WEC Energy Group has a 52 week low of $75.13 and a 52 week high of $97.08. The company has a quick ratio of 0.54, a current ratio of 0.74 and a debt-to-equity ratio of 1.37. The company has a market cap of $30.40 billion, a PE ratio of 21.02, a P/E/G ratio of 2.45 and a beta of 0.44. The business’s 50 day moving average is $91.95 and its two-hundred day moving average is $84.74.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same period last year, the business posted $0.92 earnings per share. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, analysts predict that WEC Energy Group will post 4.87 EPS for the current year.

WEC Energy Group Dividend Announcement

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

Insider Activity

In related news, VP Anthony Reese sold 1,362 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $88.78, for a total transaction of $120,918.36. Following the sale, 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 available through the SEC website. In related news, VP Anthony Reese sold 1,362 shares of WEC Energy Group stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $88.78, for a total transaction of $120,918.36. Following the transaction, the vice president now directly owns 1,462 shares of the company’s stock, valued at $129,796.36. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Joshua M. Erickson sold 350 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was 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 $213,335.75. The disclosure for this sale can be found here. Insiders sold 11,702 shares of company stock worth $1,078,058 over the last three months. Corporate insiders own 0.34% of the company’s stock.

Institutional Trading of WEC Energy Group

A number of large investors have recently added to or reduced their stakes in the business. Massmutual Trust Co. FSB ADV boosted its position in shares of WEC Energy Group by 5.2% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 2,248 shares of the utilities provider’s stock valued at $216,000 after purchasing an additional 111 shares during the period. Park National Corp OH lifted its stake in WEC Energy Group by 3.4% during the third quarter. Park National Corp OH now owns 3,964 shares of the utilities provider’s stock valued at $381,000 after buying an additional 130 shares in the last quarter. Neville Rodie & Shaw Inc. purchased a new stake in WEC Energy Group during the third quarter valued at about $200,000. Sanctuary Advisors LLC acquired a new position in shares of WEC Energy Group in the second quarter worth about $6,445,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in shares of WEC Energy Group in the second quarter worth approximately $38,000. 77.20% of the stock is currently owned by institutional investors.

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.