WEC Energy Group (NYSE:WEC) Sets New 52-Week High – Here’s What Happened

WEC Energy Group, Inc. (NYSE:WEC) shares reached a new 52-week high on Thursday . The company traded as high as $111.00 and last traded at $109.11, with a volume of 151886 shares traded. The stock had previously closed at $108.84.

Analyst Ratings Changes

WEC has been the subject of several recent research reports. Barclays upgraded shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $89.00 to $93.00 in a research report on Thursday, January 2nd. KeyCorp increased their price objective on WEC Energy Group from $108.00 to $109.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Wells Fargo & Company lifted their target price on WEC Energy Group from $112.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. Scotiabank increased their price target on WEC Energy Group from $103.00 to $110.00 and gave the company a “sector outperform” rating in a research note on Monday, December 9th. Finally, Bank of America upgraded WEC Energy Group from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $90.00 to $98.00 in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $101.88.

WEC Energy Group Price Performance

The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.43 and a current ratio of 0.60. The business has a 50 day moving average price of $104.19 and a 200-day moving average price of $99.20. The company has a market capitalization of $34.58 billion, a price-to-earnings ratio of 22.66, a P/E/G ratio of 2.60 and a beta of 0.45.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings results on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.06). The business had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.50 billion. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. WEC Energy Group’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period last year, the firm posted $1.10 earnings per share. Research analysts predict that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

Insider Buying and Selling at WEC Energy Group

In other WEC Energy Group news, Director Gale E. Klappa sold 25,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $108.62, for a total value of $2,715,500.00. Following the transaction, the director now owns 274,955 shares in the company, valued at approximately $29,865,612.10. This represents a 8.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ulice Payne, Jr. sold 1,150 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $104.17, for a total value of $119,795.50. Following the completion of the sale, the director now directly owns 21,951 shares of the company’s stock, valued at $2,286,635.67. This trade represents a 4.98 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On WEC Energy Group

Large investors have recently modified their holdings of the company. Larson Financial Group LLC lifted its stake in shares of WEC Energy Group by 3,828.6% in the fourth quarter. Larson Financial Group LLC now owns 275 shares of the utilities provider’s stock valued at $26,000 after buying an additional 268 shares in the last quarter. Prudent Man Investment Management Inc. bought a new position in WEC Energy Group in the 4th quarter valued at about $28,000. Hoey Investments Inc. acquired a new position in WEC Energy Group during the 4th quarter valued at about $42,000. Human Investing LLC bought a new stake in WEC Energy Group during the 4th quarter worth approximately $52,000. Finally, Cullen Frost Bankers Inc. raised its stake in shares of WEC Energy Group by 140.8% in the fourth quarter. Cullen Frost Bankers Inc. now owns 590 shares of the utilities provider’s stock worth $55,000 after purchasing an additional 345 shares during the last quarter. 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.