Barclays Issues Positive Forecast for WEC Energy Group (NYSE:WEC) Stock Price

WEC Energy Group (NYSE:WEC - Get Free Report) had its target price boosted by equities research analysts at Barclays from $99.00 to $101.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an "equal weight" rating on the utilities provider's stock. Barclays's price objective points to a potential downside of 6.92% from the company's previous close.

Other equities research analysts have also issued reports about the company. JPMorgan Chase & Co. raised WEC Energy Group from an "underweight" rating to a "neutral" rating and boosted their target price for the stock from $106.00 to $108.00 in a research report on Tuesday, April 8th. StockNews.com raised shares of WEC Energy Group from a "sell" rating to a "hold" rating in a research report on Wednesday, April 16th. Wells Fargo & Company upped their price objective on shares of WEC Energy Group from $112.00 to $115.00 and gave the stock an "overweight" rating in a report on Wednesday, February 5th. Finally, BMO Capital Markets upped their price target on WEC Energy Group from $95.00 to $100.00 and gave the stock a "market perform" rating in a research note on Wednesday, February 5th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $105.38.

WEC Energy Group Price Performance

Shares of NYSE:WEC opened at $108.51 on Tuesday. The stock has a market cap of $34.62 billion, a price-to-earnings ratio of 22.45, a PEG ratio of 2.60 and a beta of 0.44. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.60 and a quick ratio of 0.43. WEC Energy Group has a 12 month low of $77.47 and a 12 month high of $111.00. The stock's 50 day moving average price is $106.49 and its 200 day moving average price is $100.82.

WEC Energy Group (NYSE:WEC - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The utilities provider reported $1.43 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.06). The business had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.50 billion. WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. WEC Energy Group's revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.10 earnings per share. Equities research analysts anticipate that WEC Energy Group will post 5.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Gale E. Klappa sold 25,000 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $108.62, for a total transaction of $2,715,500.00. Following the sale, 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 SEC, which is accessible through the SEC website. Also, Director Ulice Payne, Jr. sold 1,150 shares of the firm's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $104.17, for a total value of $119,795.50. Following the completion of the transaction, the director now directly 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 ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On WEC Energy Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Marcum Wealth LLC boosted its position in WEC Energy Group by 1.3% in the first quarter. Marcum Wealth LLC now owns 7,416 shares of the utilities provider's stock valued at $808,000 after buying an additional 93 shares in the last quarter. Clean Yield Group raised its position in WEC Energy Group by 12.6% in the 1st quarter. Clean Yield Group now owns 867 shares of the utilities provider's stock valued at $94,000 after purchasing an additional 97 shares during the last quarter. MJP Associates Inc. ADV boosted its stake in WEC Energy Group by 3.4% in the fourth quarter. MJP Associates Inc. ADV now owns 3,019 shares of the utilities provider's stock worth $284,000 after purchasing an additional 98 shares in the last quarter. Premier Path Wealth Partners LLC grew its holdings in shares of WEC Energy Group by 3.0% during the first quarter. Premier Path Wealth Partners LLC now owns 3,335 shares of the utilities provider's stock worth $363,000 after purchasing an additional 98 shares during the last quarter. Finally, Marshall Financial Group LLC increased its stake in shares of WEC Energy Group by 4.8% in the fourth quarter. Marshall Financial Group LLC now owns 2,198 shares of the utilities provider's stock valued at $207,000 after buying an additional 100 shares in the last quarter. Institutional investors own 77.20% of the company's stock.

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.

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