WEC Energy Group, Inc. (NYSE:WEC) Receives $86.29 Consensus Target Price from Analysts

Shares of WEC Energy Group, Inc. (NYSE:WEC - Get Free Report) have been given a consensus recommendation of "Hold" by the twelve ratings firms that are currently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $86.29.

A number of equities analysts recently commented on the company. Royal Bank of Canada decreased their price target on WEC Energy Group from $95.00 to $90.00 and set a "sector perform" rating for the company in a research note on Thursday, February 8th. The Goldman Sachs Group assumed coverage on WEC Energy Group in a research note on Wednesday, April 10th. They issued a "neutral" rating and a $88.00 price target for the company. StockNews.com upgraded WEC Energy Group from a "sell" rating to a "hold" rating in a research note on Thursday, May 9th. Wells Fargo & Company decreased their price target on WEC Energy Group from $93.00 to $91.00 and set an "overweight" rating for the company in a research note on Friday, February 2nd. Finally, Barclays decreased their price target on WEC Energy Group from $79.00 to $75.00 and set an "underweight" rating for the company in a research note on Thursday, February 8th.

WEC Energy Group Stock Down 2.7 %

Shares of WEC Energy Group stock traded down $2.27 during trading hours on Wednesday, hitting $82.31. 6,257,161 shares of the company's stock traded hands, compared to its average volume of 2,111,231. The stock has a 50 day simple moving average of $81.96 and a 200-day simple moving average of $81.63. The company has a quick ratio of 0.42, a current ratio of 0.55 and a debt-to-equity ratio of 1.24. The company has a market cap of $26.00 billion, a PE ratio of 17.97, a PEG ratio of 2.42 and a beta of 0.40. WEC Energy Group has a twelve month low of $75.13 and a twelve month high of $93.37.

WEC Energy Group (NYSE:WEC - Get Free Report) last announced its earnings results on Wednesday, May 1st. The utilities provider reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.07. The company had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.92 billion. WEC Energy Group had a return on equity of 13.01% and a net margin of 16.67%. The company's revenue was down 7.2% on a year-over-year basis. During the same period last year, the firm earned $1.61 earnings per share. Equities research analysts anticipate that WEC Energy Group will post 4.87 earnings per share for the current fiscal year.

WEC Energy Group Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Monday, May 13th. This represents a $3.34 dividend on an annualized basis and a dividend yield of 4.06%. WEC Energy Group's dividend payout ratio (DPR) is presently 72.93%.

Insider Activity

In other news, CEO Scott J. Lauber sold 2,830 shares of WEC Energy Group stock in a transaction that occurred on 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 owns 43,125 shares of the company's stock, valued at $3,402,131.25. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, Chairman Gale E. Klappa sold 37,180 shares of the firm'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 transaction of $2,925,694.20. Following the transaction, the chairman now owns 274,782 shares in the company, valued at $21,622,595.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Scott J. Lauber sold 2,830 shares of the firm's stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $78.89, for a total transaction of $223,258.70. Following the transaction, the chief executive officer now owns 43,125 shares in the company, valued at approximately $3,402,131.25. The disclosure for this sale can be found here. Corporate insiders own 0.44% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. KLCM Advisors Inc. increased its stake in shares of WEC Energy Group by 4.7% during the first quarter. KLCM Advisors Inc. now owns 35,942 shares of the utilities provider's stock valued at $2,952,000 after acquiring an additional 1,611 shares during the period. Comerica Bank grew its position in WEC Energy Group by 1.1% in the first quarter. Comerica Bank now owns 98,183 shares of the utilities provider's stock worth $8,063,000 after buying an additional 1,093 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its position in WEC Energy Group by 2.1% in the first quarter. B. Riley Wealth Advisors Inc. now owns 6,876 shares of the utilities provider's stock worth $554,000 after buying an additional 142 shares during the last quarter. Ascent Group LLC grew its position in WEC Energy Group by 4.4% in the first quarter. Ascent Group LLC now owns 18,778 shares of the utilities provider's stock worth $1,542,000 after buying an additional 794 shares during the last quarter. Finally, Earnest Partners LLC grew its position in WEC Energy Group by 36.0% in the first quarter. Earnest Partners LLC now owns 1,748,141 shares of the utilities provider's stock worth $143,557,000 after buying an additional 462,646 shares during the last quarter. Institutional investors and hedge funds own 77.20% of the company's stock.

About WEC Energy Group

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.