WEC Energy Group (NYSE:WEC) PT Raised to $90.00 at BMO Capital Markets

WEC Energy Group (NYSE:WEC - Free Report) had its target price boosted by BMO Capital Markets from $89.00 to $90.00 in a research note released on Thursday morning, Benzinga reports. The firm currently has a market perform rating on the utilities provider's stock.

WEC has been the subject of several other reports. The Goldman Sachs Group started coverage on shares of WEC Energy Group in a report on Wednesday, April 10th. They set a neutral rating and a $88.00 price target for the company. KeyCorp raised their price target on WEC Energy Group from $95.00 to $96.00 and gave the company an overweight rating in a report on Friday, April 19th. Scotiabank reduced their price target on WEC Energy Group from $96.00 to $90.00 and set a sector outperform rating on the stock in a research report on Monday, April 22nd. Barclays reduced their target price on WEC Energy Group from $79.00 to $75.00 and set an underweight rating on the stock in a report on Thursday, February 8th. Finally, JPMorgan Chase & Co. downgraded WEC Energy Group from a neutral rating to an underweight rating and lowered their target price for the company from $90.00 to $84.00 in a research report on Friday, February 2nd. Four analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, WEC Energy Group has a consensus rating of Hold and a consensus target price of $86.29.

WEC Energy Group Trading Up 0.6 %

Shares of NYSE:WEC traded up $0.49 during mid-day trading on Thursday, reaching $83.08. 1,993,043 shares of the company were exchanged, compared to its average volume of 2,143,109. The firm has a market cap of $26.21 billion, a price-to-earnings ratio of 19.64, a P/E/G ratio of 2.86 and a beta of 0.40. The firm's 50-day simple moving average is $80.50 and its 200 day simple moving average is $81.43. WEC Energy Group has a 1 year low of $75.13 and a 1 year high of $96.17. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.55 and a quick ratio of 0.40.

WEC Energy Group (NYSE:WEC - Get Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $1.97 EPS for the quarter, topping the consensus estimate of $1.90 by $0.07. The firm had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.92 billion. WEC Energy Group had a net margin of 14.98% and a return on equity of 12.17%. WEC Energy Group's revenue for the quarter was down 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.61 earnings per share. Equities research analysts forecast that WEC Energy Group will post 4.87 EPS for the current year.

WEC Energy Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Tuesday, May 14th will be issued a dividend of $0.835 per share. This represents a $3.34 annualized dividend and a dividend yield of 4.02%. The ex-dividend date is Monday, May 13th. WEC Energy Group's dividend payout ratio (DPR) is 79.15%.

Insiders Place Their Bets

In related news, CEO Scott J. Lauber sold 2,830 shares of the company's stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $78.89, for a total value of $223,258.70. Following the completion of the transaction, the chief executive officer now directly owns 43,125 shares of the company's stock, valued at $3,402,131.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Scott J. Lauber sold 2,830 shares of the firm's stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $78.89, for a total transaction of $223,258.70. Following the sale, the chief executive officer now directly owns 43,125 shares in the company, valued at approximately $3,402,131.25. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Gale E. Klappa sold 37,180 shares of the business's stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $78.69, for a total value of $2,925,694.20. Following the completion of the sale, the chairman now owns 274,782 shares of the company's stock, valued at $21,622,595.58. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by corporate insiders.

Institutional Trading of WEC Energy Group

Institutional investors have recently bought and sold shares of the stock. Dearborn Partners LLC increased its stake in WEC Energy Group by 29.2% during the 4th quarter. Dearborn Partners LLC now owns 582,421 shares of the utilities provider's stock worth $49,022,000 after acquiring an additional 131,797 shares during the period. Vaughan David Investments LLC IL boosted its stake in shares of WEC Energy Group by 3.4% in the 4th quarter. Vaughan David Investments LLC IL now owns 428,408 shares of the utilities provider's stock worth $36,059,000 after buying an additional 14,084 shares during the last quarter. abrdn plc raised its holdings in WEC Energy Group by 72.6% during the 4th quarter. abrdn plc now owns 129,890 shares of the utilities provider's stock valued at $10,933,000 after acquiring an additional 54,623 shares during the period. Annex Advisory Services LLC boosted its holdings in shares of WEC Energy Group by 13.8% during the third quarter. Annex Advisory Services LLC now owns 205,489 shares of the utilities provider's stock worth $16,552,000 after purchasing an additional 24,892 shares during the period. Finally, Great Lakes Advisors LLC increased its stake in shares of WEC Energy Group by 2.3% during the third quarter. Great Lakes Advisors LLC now owns 44,471 shares of the utilities provider's stock valued at $3,582,000 after purchasing an additional 1,010 shares in the last quarter. Institutional investors and hedge funds 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.