WEC Energy Group (NYSE:WEC) Reaches New 12-Month High – Time to Buy?

Shares of WEC Energy Group, Inc. (NYSE:WEC) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $97.33 and last traded at $96.90, with a volume of 126672 shares trading hands. The stock had previously closed at $96.30.

Analyst Upgrades and Downgrades

Several research firms recently commented on WEC. BMO Capital Markets boosted their price target on WEC Energy Group from $91.00 to $93.00 and gave the stock a “market perform” rating in a research report on Friday, August 23rd. Scotiabank boosted their target price on shares of WEC Energy Group from $90.00 to $103.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. Wells Fargo & Company raised their price target on shares of WEC Energy Group from $98.00 to $103.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Bank of America boosted their price objective on shares of WEC Energy Group from $88.00 to $90.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. Finally, Barclays raised their target price on WEC Energy Group from $86.00 to $89.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $93.73.

WEC Energy Group Stock Up 1.5 %

The company has a debt-to-equity ratio of 1.37, a current ratio of 0.74 and a quick ratio of 0.54. The stock’s fifty day simple moving average is $93.36 and its two-hundred day simple moving average is $85.59. The company has a market capitalization of $30.86 billion, a price-to-earnings ratio of 21.03, a PEG ratio of 2.42 and a beta of 0.44.

WEC Energy Group (NYSE:WEC) last posted its earnings results on Wednesday, July 31st. The utilities provider reported $0.67 EPS for the quarter, beating the consensus estimate of $0.63 by $0.04. The company had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.87 billion. WEC Energy Group had a return on equity of 12.26% and a net margin of 15.85%. The business’s revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.92 earnings per share. On average, sell-side analysts predict that WEC Energy Group, Inc. will post 4.87 earnings per share for the current fiscal year.

WEC Energy Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 14th were paid a $0.835 dividend. This represents a $3.34 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date of this dividend was Wednesday, August 14th. WEC Energy Group’s payout ratio is 72.93%.

Insider Transactions at WEC Energy Group

In related news, VP Mary Beth Straka sold 3,240 shares of WEC Energy Group stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $93.04, for a total value of $301,449.60. Following the sale, the vice president now directly owns 3,662 shares in the company, valued at $340,712.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, VP Mary Beth Straka sold 3,240 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $93.04, for a total value of $301,449.60. Following the sale, the vice president now directly owns 3,662 shares in the company, valued at $340,712.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Joshua M. Erickson sold 350 shares of WEC Energy Group stock in a transaction on Monday, August 5th. The shares were sold at an average price of $89.75, for a total value of $31,412.50. Following the sale, the vice president now directly owns 2,377 shares in the company, valued at $213,335.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,702 shares of company stock worth $1,078,058. Insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On WEC Energy Group

Several large investors have recently bought and sold shares of WEC. Opal Wealth Advisors LLC bought a new position in shares of WEC Energy Group in the first quarter valued at approximately $25,000. Global X Japan Co. Ltd. increased its position in shares of WEC Energy Group by 58.1% during the 2nd quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 118 shares during the period. Olistico Wealth LLC bought a new stake in shares of WEC Energy Group in the 2nd quarter worth $29,000. William B. Walkup & Associates Inc. acquired a new stake in shares of WEC Energy Group in the second quarter valued at $31,000. Finally, FinTrust Capital Advisors LLC boosted its stake in WEC Energy Group by 52.6% during the first quarter. FinTrust Capital Advisors LLC now owns 412 shares of the utilities provider’s stock valued at $34,000 after buying an additional 142 shares in the last quarter. Institutional investors and hedge funds own 77.20% of the company’s stock.

About WEC Energy Group

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.