WEC Energy Group (NYSE:WEC) gets a new price target of $96.00 at KeyCorp


WEC Energy Group (NYSE:WEC – Get a Free Report) In a research report issued to clients and investors on Friday, KeyCorp’s price target was raised by KeyCorp investment analysts from $95.00 to $96.00, Benzinga reports. The company currently has an ‘overweight’ rating on the utility’s stock. KeyCorp’s price target indicates a potential upside of 17.70% from the current share price.

A number of other research firms have also recently expressed their opinions on WEC. The Goldman Sachs Group initiated coverage of the WEC Energy Group in a research report on Wednesday, April 10. They set a “neutral” rating and a target price of $88.00 for the stock. JPMorgan Chase & Co. downgraded WEC Energy Group from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $90.00 to $84.00 in a report on Friday, February 2. Wells Fargo & Company cut their price objective on WEC Energy Group from $93.00 to $91.00 and set an “overweight” rating for the stock in a report on Friday, February 2. Royal Bank of Canada lowered their price objective on WEC Energy Group from $95.00 to $90.00 and set a “sector perform” rating on the stock in a report on Thursday, February 8. Finally, StockNews.com downgraded WEC Energy Group from a “hold” rating to a “sell” rating in a report on Saturday, January 13th. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, WEC Energy Group has an average rating of “Hold” and an average price target of $86.38.

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WEC Energy Group stock rises by 1.4%

WEC shares opened at $81.56 on Friday. WEC Energy Group has a 12-month low of $75.13 and a 12-month high of $98.80. The company has a market cap of $25.73 billion, a price-to-earnings ratio of 19.33, a price-to-earnings-growth ratio of 2.80 and a beta of 0.40. The company’s 50-day simple moving average is $79.78 and its 200-day simple moving average is $81.37. The company has a quick ratio of 0.40, a current ratio of 0.55 and a debt-to-equity ratio of 1.29.

WEC Energy Group (NYSE:WEC – Get Free Report) last reported its earnings results on Thursday, February 1. The utility reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.02. WEC Energy Group had a return on equity of 12.17% and a net margin of 14.98%. The company had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.82 billion. During the same period last year, the company earned $0.80 earnings per share. The company’s revenue for the quarter fell 13.3% compared to the same quarter last year. On average, research analysts expect that WEC Energy Group will post 4.88 earnings per share for the current year.

Insider transactions at WEC Energy Group

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

Institutional inflow and outflow

Several institutional investors have recently bought and sold shares of the stock. Kesler Norman & Wride LLC increased its position in WEC Energy Group by 6.6% in the first quarter. Kesler Norman & Wride LLC now owns 18,470 shares of the utility’s stock worth $1,517,000 after purchasing an additional 1,149 shares in the last quarter. Leeward Investments LLC MA increased its position in WEC Energy Group by 4.0% in the first quarter. Leeward Investments LLC MA now owns 163,685 shares of the utility’s stock worth $13,442,000 after purchasing an additional 6,288 shares during the last quarter. Norden Group LLC bought a new position in WEC Energy Group in the first quarter valued at approximately $9,095,000. United Capital Management of KS Inc. increased its position in WEC Energy Group by 10.6% in the first quarter. United Capital Management of KS Inc. now owns 30,773 shares of the utility’s stock worth $2,527,000 after purchasing an additional 2,952 shares during the last quarter. Finally, the State of Alaska Department of Revenue increased its position in WEC Energy Group by 0.4% in the first quarter. The State of Alaska Department of Revenue now owns 34,210 shares of the utility’s stock worth $2,809,000 after purchasing an additional 145 shares during the last quarter. Institutional investors own 77.20% of the company’s shares.

Company profile WEC Energy Group

(Get a free report)

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and renewable and unregulated renewable energy services in the United States. It operates through its Wisconsin, Illinois, Other States, Electric Transmission and Non-Utility Energy Infrastructure segments.

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Analyst recommendations for WEC Energy Group (NYSE:WEC)



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