WEC Energy Group (NYSE:WEC) Upgraded at Mizuho

Mizuho upgraded shares of WEC Energy Group (NYSE:WEC – Get Rating) from a neutral rating to a buy rating in a research report released on Thursday morning, The Fly reports. They currently have $98.00 price target on the utilities provider’s stock.

Other analysts have also recently issued research reports about the stock. 888 reissued a maintains rating on shares of WEC Energy Group in a research note on Wednesday, May 3rd. Wells Fargo & Company reduced their price objective on shares of WEC Energy Group from $109.00 to $106.00 and set an overweight rating on the stock in a research note on Friday, February 3rd. Bank of America reduced their price objective on shares of WEC Energy Group from $106.00 to $103.00 in a research note on Wednesday, May 3rd. StockNews.com assumed coverage on shares of WEC Energy Group in a research note on Thursday. They issued a sell rating on the stock. Finally, JPMorgan Chase & Co. upped their price target on shares of WEC Energy Group from $99.00 to $105.00 and gave the company a neutral rating in a research report on Wednesday, April 19th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, WEC Energy Group presently has an average rating of Hold and a consensus price target of $100.10.

WEC Energy Group Stock Up 0.6 %

NYSE WEC opened at $89.92 on Thursday. The company has a current ratio of 0.75, a quick ratio of 0.61 and a debt-to-equity ratio of 1.32. WEC Energy Group has a 1-year low of $80.82 and a 1-year high of $108.39. The company has a 50 day moving average of $94.79 and a 200-day moving average of $94.07. The company has a market cap of $28.36 billion, a price-to-earnings ratio of 21.01, a PEG ratio of 3.37 and a beta of 0.40.

WEC Energy Group (NYSE:WEC – Get Rating) last announced its quarterly earnings data on Monday, May 1st. The utilities provider reported $1.61 EPS for the quarter, beating the consensus estimate of $1.58 by $0.03. The business had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.90 billion. WEC Energy Group had a net margin of 14.10% and a return on equity of 11.60%. The company’s revenue was down .7% on a year-over-year basis. During the same period in the previous year, the business earned $1.79 earnings per share. On average, equities research analysts expect that WEC Energy Group will post 4.6 earnings per share for the current fiscal year.

WEC Energy Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 1st. Shareholders of record on Friday, May 12th will be given a dividend of $0.78 per share. The ex-dividend date of this dividend is Thursday, May 11th. This represents a $3.12 dividend on an annualized basis and a yield of 3.47%. WEC Energy Group’s dividend payout ratio (DPR) is currently 72.90%.

Insider Activity

In other news, Director Ulice Payne, Jr. sold 1,500 shares of the company’s stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $94.36, for a total transaction of $141,540.00. Following the transaction, the director now owns 21,503 shares in the company, valued at $2,029,023.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On WEC Energy Group

Institutional investors have recently made changes to their positions in the stock. Quilter Plc acquired a new position in shares of WEC Energy Group during the first quarter valued at about $234,348,000. Graham Capital Wealth Management LLC acquired a new stake in shares of WEC Energy Group in the 1st quarter worth about $243,610,000. Achmea Investment Management B.V. acquired a new stake in shares of WEC Energy Group in the 1st quarter worth about $27,000. Glassy Mountain Advisors Inc. acquired a new stake in shares of WEC Energy Group in the 4th quarter worth about $26,000. Finally, Asset Dedication LLC acquired a new stake in shares of WEC Energy Group in the 4th quarter worth about $27,000. Institutional investors and hedge funds own 74.05% of the company’s stock.

WEC Energy Group Company Profile

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WEC Energy Group, Inc is a holding company, which engages in the generation and distribution of electricity and natural gas. It operates through the following segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure and Corporate & Other. The Wisconsin segment refers to the electric and gas utility operations.