WEC Energy Group (NYSE:WEC) Upgraded to Buy at LADENBURG THALM/SH SH

Key Points

• WEC Energy Group has been upgraded from a "neutral" to a "buy" rating by LADENBURG THALM/SH SH, reflecting positive sentiment among analysts.
• Analysts have mixed opinions with six buy ratings, five hold ratings, and one sell rating, while the average target price stands at $112.20.
• WEC Energy Group recently reported $1.43 EPS for the quarter and has a market capitalization of $37.04 billion, indicating strong financial performance in the utility sector.

WEC Energy Group (NYSE:WEC - Get Free Report) was upgraded by research analysts at LADENBURG THALM/SH SH from a "neutral" rating to a "buy" rating in a research report issued to clients and investors on Monday,Finviz reports.

A number of other equities research analysts have also weighed in on the company. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of WEC Energy Group in a report on Wednesday, October 8th. UBS Group lifted their price objective on WEC Energy Group from $117.00 to $122.00 and gave the company a "neutral" rating in a report on Friday. Scotiabank lifted their price objective on WEC Energy Group from $115.00 to $129.00 and gave the company an "outperform" rating in a report on Monday, October 6th. The Goldman Sachs Group lowered WEC Energy Group from a "neutral" rating to a "sell" rating and lowered their price objective for the company from $106.00 to $100.00 in a report on Wednesday, June 25th. Finally, Citigroup began coverage on WEC Energy Group in a report on Friday, October 3rd. They issued a "buy" rating and a $131.00 price objective on the stock. Six analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $112.20.

WEC Energy Group Stock Up 1.0%

WEC opened at $115.07 on Monday. The business's 50-day simple moving average is $109.95 and its 200-day simple moving average is $107.68. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.40 and a current ratio of 0.55. WEC Energy Group has a one year low of $91.94 and a one year high of $115.90. The stock has a market capitalization of $37.04 billion, a P/E ratio of 22.04, a price-to-earnings-growth ratio of 3.16 and a beta of 0.47.

WEC Energy Group (NYSE:WEC - Get Free Report) last posted its earnings results on Tuesday, September 2nd. The utilities provider reported $1.43 EPS for the quarter. WEC Energy Group had a return on equity of 12.90% and a net margin of 17.87%.The business had revenue of $2.28 billion for the quarter. Analysts anticipate that WEC Energy Group will post 5.23 EPS for the current year.

Insider Activity at WEC Energy Group

In other WEC Energy Group news, CEO Scott J. Lauber sold 9,231 shares of the firm's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $110.88, for a total transaction of $1,023,533.28. Following the completion of the transaction, the chief executive officer owned 56,443 shares of the company's stock, valued at approximately $6,258,399.84. This trade represents a 14.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Daniel Krueger sold 5,930 shares of the firm's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $111.14, for a total value of $659,060.20. Following the transaction, the executive vice president directly owned 6,606 shares of the company's stock, valued at $734,190.84. The trade was a 47.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 68,448 shares of company stock valued at $7,581,132 in the last ninety days. 0.50% of the stock is owned by insiders.

Hedge Funds Weigh In On WEC Energy Group

Hedge funds have recently bought and sold shares of the stock. Nuveen LLC acquired a new position in WEC Energy Group in the 1st quarter valued at $403,372,000. Charles Schwab Investment Management Inc. raised its holdings in WEC Energy Group by 34.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,213,304 shares of the utilities provider's stock valued at $567,727,000 after acquiring an additional 1,349,522 shares during the last quarter. Vanguard Group Inc. raised its holdings in WEC Energy Group by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 39,945,761 shares of the utilities provider's stock valued at $4,162,348,000 after acquiring an additional 816,243 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in WEC Energy Group by 16.6% in the 1st quarter. JPMorgan Chase & Co. now owns 5,103,604 shares of the utilities provider's stock valued at $556,191,000 after acquiring an additional 726,267 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its holdings in WEC Energy Group by 1,529.3% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 709,209 shares of the utilities provider's stock valued at $77,290,000 after acquiring an additional 665,681 shares during the last quarter. Hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.