UBS Group Increases WEC Energy Group (NYSE:WEC) Price Target to $107.00

WEC Energy Group (NYSE:WEC - Get Free Report) had its price target boosted by equities research analysts at UBS Group from $105.00 to $107.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a "neutral" rating on the utilities provider's stock. UBS Group's price objective indicates a potential upside of 1.06% from the company's previous close.

A number of other equities analysts have also weighed in on the stock. The Goldman Sachs Group lowered shares of WEC Energy Group from a "neutral" rating to a "sell" rating and cut their price objective for the company from $106.00 to $100.00 in a research report on Wednesday, June 25th. Barclays boosted their price objective on shares of WEC Energy Group from $99.00 to $101.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 29th. JPMorgan Chase & Co. raised shares of WEC Energy Group from an "underweight" rating to a "neutral" rating and boosted their price objective for the company from $106.00 to $108.00 in a research report on Tuesday, April 8th. Wall Street Zen raised shares of WEC Energy Group from a "sell" rating to a "hold" rating in a research report on Sunday, June 29th. Finally, Wells Fargo & Company boosted their price objective on shares of WEC Energy Group from $115.00 to $124.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, WEC Energy Group has a consensus rating of "Hold" and a consensus target price of $106.40.

WEC Energy Group Price Performance

WEC stock traded up $0.19 during trading on Friday, reaching $105.87. 829,550 shares of the company were exchanged, compared to its average volume of 2,149,280. The company has a market cap of $33.79 billion, a P/E ratio of 20.64, a PEG ratio of 2.86 and a beta of 0.44. WEC Energy Group has a 52-week low of $78.59 and a 52-week high of $111.00. The stock's 50 day moving average price is $105.58 and its 200 day moving average price is $103.77. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.40 and a current ratio of 0.50.

WEC Energy Group (NYSE:WEC - Get Free Report) last announced its earnings results on Tuesday, May 6th. The utilities provider reported $2.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.18 by $0.09. The company had revenue of $3.15 billion during the quarter, compared to analysts' expectations of $2.81 billion. WEC Energy Group had a net margin of 17.95% and a return on equity of 12.94%. The firm's quarterly revenue was up 17.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.97 earnings per share. As a group, analysts predict that WEC Energy Group will post 5.23 earnings per share for the current fiscal year.

Insider Buying and Selling at WEC Energy Group

In related news, VP Joshua M. Erickson sold 2,155 shares of the company's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $107.77, for a total value of $232,244.35. Following the sale, the vice president directly owned 2,686 shares of the company's stock, valued at $289,470.22. This represents a 44.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.50% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Miller Howard Investments Inc. NY boosted its stake in WEC Energy Group by 5.7% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 15,339 shares of the utilities provider's stock valued at $1,598,000 after acquiring an additional 823 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of WEC Energy Group by 28.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 197,250 shares of the utilities provider's stock worth $20,553,000 after buying an additional 43,403 shares during the last quarter. IFM Investors Pty Ltd boosted its holdings in shares of WEC Energy Group by 6.0% in the 2nd quarter. IFM Investors Pty Ltd now owns 70,904 shares of the utilities provider's stock valued at $7,388,000 after buying an additional 4,014 shares during the period. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of WEC Energy Group in the 2nd quarter valued at about $63,000. Finally, Trust Point Inc. boosted its holdings in shares of WEC Energy Group by 11.6% in the 2nd quarter. Trust Point Inc. now owns 2,186 shares of the utilities provider's stock valued at $228,000 after buying an additional 228 shares during the period. 77.20% of the stock is currently 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.

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