WEC Energy Group (NYSE:WEC) Reaches New 52-Week High - Here's What Happened

Key Points

• WEC Energy Group's stock price reached a new 52-week high of $118.19, with a recent closing price of $117.96 and a trading volume of 807,739 shares.
• Analyst ratings for WEC Energy Group are mixed, with seven analysts rating it as a "Buy" and one as a "Sell," leading to a consensus rating of "Hold" with an average price target of $118.83.
• The company recently declared a quarterly dividend of $0.8925 per share, representing an annualized yield of 3.0%, with the ex-dividend date set for November 14th.

WEC Energy Group, Inc. (NYSE:WEC - Get Free Report)'s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $118.19 and last traded at $117.96, with a volume of 807739 shares. The stock had previously closed at $116.58.

Analyst Upgrades and Downgrades

Several analysts recently commented on WEC shares. The Goldman Sachs Group downgraded WEC Energy Group from a "neutral" rating to a "sell" rating and dropped their price objective for the stock from $106.00 to $100.00 in a research note on Wednesday, June 25th. LADENBURG THALM/SH SH raised WEC Energy Group from a "neutral" rating to a "buy" rating in a research note on Monday, October 13th. Weiss Ratings reissued a "buy (b-)" rating on shares of WEC Energy Group in a research note on Wednesday, October 8th. Scotiabank lifted their price target on WEC Energy Group from $115.00 to $129.00 and gave the company an "outperform" rating in a research note on Monday, October 6th. Finally, KeyCorp raised their price objective on WEC Energy Group from $110.00 to $123.00 and gave the company an "overweight" rating in a report on Wednesday, October 15th. Seven analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $118.83.

WEC Energy Group Price Performance

The company's 50-day simple moving average is $110.84 and its 200-day simple moving average is $108.11. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.55 and a quick ratio of 0.40. The stock has a market capitalization of $37.78 billion, a price-to-earnings ratio of 22.49, a P/E/G ratio of 3.31 and a beta of 0.47.

WEC Energy Group (NYSE:WEC - Get Free Report) last issued its quarterly earnings data on Tuesday, September 2nd. The utilities provider reported $1.43 earnings per share (EPS) for the quarter. The firm had revenue of $2.28 billion during the quarter. WEC Energy Group had a net margin of 17.87% and a return on equity of 12.90%. Research analysts forecast that WEC Energy Group, Inc. will post 5.23 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 Monday, December 1st. Stockholders of record on Friday, November 14th will be given a $0.8925 dividend. This represents a $3.57 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Friday, November 14th. WEC Energy Group's payout ratio is presently 68.39%.

Insider Buying and Selling

In other news, EVP Molly A. Mulroy sold 4,030 shares of WEC Energy Group stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $110.33, for a total value of $444,629.90. Following the completion of the sale, the executive vice president directly owned 5,829 shares in the company, valued at approximately $643,113.57. The trade was a 40.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ulice Payne, Jr. sold 1,620 shares of WEC Energy Group stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $111.00, for a total transaction of $179,820.00. Following the completion of the sale, the director owned 20,360 shares of the company's stock, valued at approximately $2,259,960. The trade was a 7.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 68,448 shares of company stock valued at $7,581,132 in the last quarter. Corporate insiders own 0.50% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Truvestments Capital LLC acquired a new position in WEC Energy Group during the first quarter valued at approximately $25,000. Nova Wealth Management Inc. bought a new stake in shares of WEC Energy Group during the first quarter worth $26,000. Bayforest Capital Ltd bought a new stake in shares of WEC Energy Group during the second quarter worth $26,000. CoreFirst Bank & Trust bought a new stake in shares of WEC Energy Group during the second quarter worth $26,000. Finally, Osterweis Capital Management Inc. bought a new stake in shares of WEC Energy Group during the second quarter worth $27,000. 77.20% of the stock is currently owned by institutional investors and hedge funds.

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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