KeyCorp Issues Positive Forecast for WEC Energy Group (NYSE:WEC) Stock Price

WEC Energy Group (NYSE:WEC) had its target price increased by investment analysts at KeyCorp from $108.00 to $109.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the utilities provider’s stock. KeyCorp’s price target suggests a potential upside of 11.28% from the stock’s previous close.

WEC has been the subject of several other research reports. Bank of America raised their price target on WEC Energy Group from $88.00 to $90.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. Jefferies Financial Group assumed coverage on shares of WEC Energy Group in a report on Thursday, September 19th. They set a “hold” rating and a $102.00 target price for the company. Barclays raised their price objective on shares of WEC Energy Group from $86.00 to $89.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Scotiabank upped their target price on WEC Energy Group from $90.00 to $103.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. Finally, BMO Capital Markets lifted their price target on WEC Energy Group from $97.00 to $104.00 and gave the stock a “market perform” rating in a report on Monday. Three research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $95.55.

WEC Energy Group Stock Performance

WEC stock traded down $0.27 during trading hours on Wednesday, reaching $97.95. The stock had a trading volume of 125,209 shares, compared to its average volume of 2,122,071. The stock has a 50-day simple moving average of $97.50 and a 200 day simple moving average of $89.68. WEC Energy Group has a fifty-two week low of $75.13 and a fifty-two week high of $102.79. The stock has a market capitalization of $30.99 billion, a PE ratio of 23.95, a price-to-earnings-growth ratio of 2.71 and a beta of 0.46. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.65 and a quick ratio of 0.46.

WEC Energy Group (NYSE:WEC) last issued its earnings results on Thursday, October 31st. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.12. The business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.93 billion. WEC Energy Group had a net margin of 15.14% and a return on equity of 11.72%. WEC Energy Group’s revenue was down 4.8% on a year-over-year basis. During the same period last year, the business posted $1.00 EPS. Analysts predict that WEC Energy Group will post 4.87 EPS for the current fiscal year.

Insider Activity at WEC Energy Group

In other WEC Energy Group news, CEO Scott J. Lauber sold 6,720 shares of WEC Energy Group stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $100.89, for a total value of $677,980.80. Following the transaction, the chief executive officer now owns 45,709 shares in the company, valued at $4,611,581.01. The trade was a 12.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gale E. Klappa sold 40,269 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $99.56, for a total value of $4,009,181.64. Following the transaction, the director now directly owns 273,248 shares of the company’s stock, valued at approximately $27,204,570.88. The trade was a 12.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 48,794 shares of company stock valued at $4,866,579 over the last quarter. 0.44% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On WEC Energy Group

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Massmutual Trust Co. FSB ADV increased its stake in WEC Energy Group by 5.2% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 2,248 shares of the utilities provider’s stock valued at $216,000 after buying an additional 111 shares during the last quarter. Bradley Foster & Sargent Inc. CT boosted its stake in shares of WEC Energy Group by 2.0% in the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 6,047 shares of the utilities provider’s stock worth $474,000 after buying an additional 117 shares during the last quarter. Global X Japan Co. Ltd. grew its holdings in shares of WEC Energy Group by 58.1% in the second quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 118 shares in the last quarter. Drake & Associates LLC increased its position in shares of WEC Energy Group by 2.0% during the third quarter. Drake & Associates LLC now owns 6,216 shares of the utilities provider’s stock valued at $598,000 after acquiring an additional 120 shares during the last quarter. Finally, Park National Corp OH lifted its holdings in WEC Energy Group by 3.4% during the third quarter. Park National Corp OH now owns 3,964 shares of the utilities provider’s stock worth $381,000 after acquiring an additional 130 shares during the period. 77.20% of the stock is 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.