WEC Energy Group (NYSE:WEC) Stock Rating Raised to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded WEC Energy Group from “sell” to “hold.” Analysts overall also rate the stock “hold,” with a consensus price target of $117.88.
• WEC reported quarterly earnings of $1.18 per share, beating the $0.97 consensus estimate; revenue of $2.29 billion also topped expectations and rose 8.9% year over year.
• Analyst views varied: price targets ranged from $109 to $129, with ratings including “market perform,” “sector outperform,” and “overweight.”

WEC Energy Group (NYSE:WEC - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued to investors on Sunday, Wall Street Zen reports.

Other equities research analysts have also issued research reports about the stock. BMO Capital Markets reissued a "market perform" rating and set a $117.00 price objective (down from $120.00) on shares of WEC Energy Group in a report on Friday, October 16th. Scotiabank upped their target price on shares of WEC Energy Group from $117.00 to $128.00 and gave the stock a "sector outperform" rating in a research report on Friday, October 30th. KeyCorp decreased their price target on shares of WEC Energy Group from $117.00 to $111.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 13th. Stephens set a $109.00 price target on shares of WEC Energy Group in a report on Friday, October 16th. Finally, Wells Fargo & Company boosted their price objective on shares of WEC Energy Group from $127.00 to $129.00 and gave the stock an "overweight" rating in a research report on Friday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $117.88.

WEC Energy Group Stock Down 2.1%

Shares of WEC opened at $115.86 on Friday. The company has a market capitalization of $38.12 billion, a P/E ratio of 21.03, a PEG ratio of 2.38 and a beta of 0.43. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.53 and a quick ratio of 0.36. WEC Energy Group has a one year low of $99.80 and a one year high of $120.15. The business's 50 day simple moving average is $106.86 and its 200-day simple moving average is $111.67.

WEC Energy Group (NYSE:WEC - Get Free Report) last released its quarterly earnings results on Thursday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, beating analysts' consensus estimates of $0.97 by $0.21. WEC Energy Group had a return on equity of 13.49% and a net margin of 17.54%. The firm had revenue of $2.29 billion during the quarter, compared to analysts' expectations of $2.27 billion. During the same period last year, the firm posted $0.83 EPS. The business's revenue was up 8.9% on a year-over-year basis. As a group, sell-side analysts predict that WEC Energy Group will post 5.61 EPS for the current fiscal year.

Insider Activity at WEC Energy Group

In other news, Director Ulice Payne, Jr. sold 980 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $105.58, for a total value of $103,468.40. Following the transaction, the director owned 19,588 shares of the company's stock, valued at $2,068,101.04. This represents a 4.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.46% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On WEC Energy Group

Several institutional investors and hedge funds have recently made changes to their positions in WEC. Envestnet Asset Management Inc. grew its stake in WEC Energy Group by 3.1% in the second quarter. Envestnet Asset Management Inc. now owns 3,734,979 shares of the utilities provider's stock valued at $436,133,000 after acquiring an additional 111,057 shares during the period. PNC Financial Services Group Inc. grew its position in shares of WEC Energy Group by 0.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,571,015 shares of the utilities provider's stock valued at $297,646,000 after purchasing an additional 7,206 shares during the period. Legal & General Group Plc bought a new stake in WEC Energy Group during the 2nd quarter worth approximately $299,100,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in WEC Energy Group by 5.0% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,644,319 shares of the utilities provider's stock worth $192,007,000 after purchasing an additional 78,168 shares in the last quarter. Finally, Aberdeen Group plc raised its holdings in WEC Energy Group by 1,224.5% during the 3rd quarter. Aberdeen Group plc now owns 1,307,324 shares of the utilities provider's stock worth $131,752,000 after buying an additional 1,208,620 shares during the period. Institutional investors and hedge funds own 77.20% of the company's stock.

WEC Energy Group Company Profile

WEC Energy Group is a regulated energy holding company based in Milwaukee, Wisconsin. Through its subsidiaries, it generates, transmits and distributes electricity and provides natural gas service to residential, commercial and industrial customers.

The company's utility operations serve communities across Wisconsin, Illinois, Michigan and Minnesota. Its businesses include electric and gas utilities, as well as natural gas storage and related energy services.

WEC Energy Group adopted its current name in 2015, following the combination of Wisconsin Energy Corporation and Integrys Energy Group.

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