WEC Energy Group (NYSE:WEC) Reaches New 52-Week High – Here’s What Happened

Shares of WEC Energy Group, Inc. (NYSE:WEC) hit a new 52-week high during trading on Monday . The stock traded as high as $110.19 and last traded at $109.15, with a volume of 994774 shares changing hands. The stock had previously closed at $106.84.

Analysts Set New Price Targets

Several research firms have issued reports on WEC. Barclays upgraded shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $89.00 to $93.00 in a report on Thursday, January 2nd. Bank of America upgraded shares of WEC Energy Group from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $90.00 to $98.00 in a report on Thursday, December 12th. KeyCorp increased their price target on WEC Energy Group from $108.00 to $109.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Scotiabank lifted their price objective on WEC Energy Group from $103.00 to $110.00 and gave the stock a “sector outperform” rating in a research report on Monday, December 9th. Finally, BMO Capital Markets upped their target price on WEC Energy Group from $95.00 to $100.00 and gave the company a “market perform” rating in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $101.88.

WEC Energy Group Trading Up 1.9 %

The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.43 and a current ratio of 0.60. The business has a 50 day moving average of $100.03 and a two-hundred day moving average of $97.58. The firm has a market capitalization of $34.39 billion, a price-to-earnings ratio of 22.54, a P/E/G ratio of 2.60 and a beta of 0.45.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.06). The business had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.50 billion. WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. The business’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.10 EPS. Equities analysts predict that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

Insiders Place Their Bets

In related news, Director Gale E. Klappa sold 25,000 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $108.62, for a total transaction of $2,715,500.00. Following the transaction, the director now directly owns 274,955 shares in the company, valued at approximately $29,865,612.10. The trade was a 8.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ulice Payne, Jr. sold 1,150 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $104.17, for a total transaction of $119,795.50. Following the completion of the sale, the director now owns 21,951 shares of the company’s stock, valued at approximately $2,286,635.67. This trade represents a 4.98 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On WEC Energy Group

Several institutional investors have recently modified their holdings of WEC. Aegis Wealth Management LLC purchased a new stake in shares of WEC Energy Group during the 4th quarter valued at $345,000. Siemens Fonds Invest GmbH bought a new position in WEC Energy Group during the fourth quarter valued at about $10,775,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in WEC Energy Group during the fourth quarter worth about $11,596,000. Talaria Asset Management Pty Ltd bought a new stake in WEC Energy Group in the fourth quarter worth about $53,970,000. Finally, LifeWealth Investments LLC purchased a new position in WEC Energy Group in the fourth quarter valued at about $200,000. 77.20% of the stock is 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.