KeyCorp Increases WEC Energy Group (NYSE:WEC) Price Target to $98.00

WEC Energy Group (NYSE:WEC) had its target price boosted by stock analysts at KeyCorp from $95.00 to $98.00 in a report issued on Monday, Benzinga reports. The firm currently has an “overweight” rating on the utilities provider’s stock. KeyCorp’s price objective points to a potential upside of 1.78% from the company’s previous close.

A number of other analysts have also weighed in on WEC. Bank of America increased their target price on WEC Energy Group from $88.00 to $90.00 and gave the stock an “underperform” rating in a research note on Thursday, August 29th. BMO Capital Markets lifted their price target on WEC Energy Group from $91.00 to $93.00 and gave the company a “market perform” rating in a report on Friday, August 23rd. Wells Fargo & Company raised their target price on shares of WEC Energy Group from $98.00 to $103.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Scotiabank boosted their price target on WEC Energy Group from $90.00 to $103.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. Finally, StockNews.com downgraded WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Four research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $90.42.

WEC Energy Group Stock Performance

Shares of NYSE WEC traded up $0.44 during midday trading on Monday, hitting $96.29. 131,252 shares of the company’s stock traded hands, compared to its average volume of 2,155,505. WEC Energy Group has a 1 year low of $75.13 and a 1 year high of $96.55. The stock has a market capitalization of $30.44 billion, a price-to-earnings ratio of 21.00, a price-to-earnings-growth ratio of 2.44 and a beta of 0.44. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.54 and a current ratio of 0.74. The firm has a fifty day moving average of $88.15 and a 200 day moving average of $83.42.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data 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 business had revenue of $1.77 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the business earned $0.92 earnings per share. On average, analysts forecast that WEC Energy Group will post 4.88 earnings per share for the current year.

Insider Transactions at WEC Energy Group

In other WEC Energy Group news, VP Mary Beth Straka sold 3,240 shares of the business’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 completion of the sale, the vice president now owns 3,662 shares in the company, valued at $340,712.48. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, VP William J. Guc sold 6,000 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $92.99, for a total value of $557,940.00. Following the transaction, the vice president now owns 7,702 shares in the company, valued at approximately $716,208.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Mary Beth Straka sold 3,240 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at $340,712.48. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,702 shares of company stock worth $1,078,058. Corporate insiders own 0.34% of the company’s stock.

Institutional Trading of WEC Energy Group

Several hedge funds have recently made changes to their positions in WEC. Northwest Bank & Trust Co purchased a new position in WEC Energy Group during the fourth quarter worth about $25,000. Opal Wealth Advisors LLC acquired a new position in WEC Energy Group during the first quarter worth $25,000. Global X Japan Co. Ltd. raised its position in 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 worth $25,000 after acquiring an additional 118 shares in the last quarter. Olistico Wealth LLC acquired a new position in shares of WEC Energy Group during the 2nd quarter worth $29,000. Finally, William B. Walkup & Associates Inc. purchased a new position in shares of WEC Energy Group in the 2nd quarter valued at about $31,000. 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.