WEC Energy Group (NYSE:WEC) Price Target Cut to $90.00 by Analysts at Scotiabank

WEC Energy Group (NYSE:WEC) had its price objective lowered by stock analysts at Scotiabank from $96.00 to $90.00 in a report issued on Monday, Benzinga reports. The firm presently has a “sector outperform” rating on the utilities provider’s stock. Scotiabank’s target price suggests a potential upside of 9.80% from the company’s current price.

Several other equities research analysts have also issued reports on WEC. Royal Bank of Canada reduced their target price on shares of WEC Energy Group from $95.00 to $90.00 and set a “sector perform” rating for the company in a report on Thursday, February 8th. StockNews.com lowered shares of WEC Energy Group from a “hold” rating to a “sell” rating in a report on Saturday, January 13th. JPMorgan Chase & Co. lowered shares of WEC Energy Group from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $90.00 to $84.00 in a report on Friday, February 2nd. Bank of America reissued an “underperform” rating and issued a $78.00 target price (down from $84.00) on shares of WEC Energy Group in a report on Thursday, January 4th. Finally, The Goldman Sachs Group started coverage on shares of WEC Energy Group in a report on Wednesday, April 10th. They issued a “neutral” rating and a $88.00 target price for the company. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $86.64.

WEC Energy Group Price Performance

Shares of NYSE:WEC opened at $81.97 on Monday. The firm’s 50 day moving average price is $79.97 and its 200-day moving average price is $81.41. WEC Energy Group has a twelve month low of $75.13 and a twelve month high of $98.80. The company has a quick ratio of 0.40, a current ratio of 0.55 and a debt-to-equity ratio of 1.29. The stock has a market capitalization of $25.86 billion, a PE ratio of 19.42, a price-to-earnings-growth ratio of 2.84 and a beta of 0.40.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data on Thursday, February 1st. The utilities provider reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.02. WEC Energy Group had a net margin of 14.98% and a return on equity of 12.17%. The firm had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.82 billion. During the same quarter in the prior year, the business earned $0.80 EPS. The business’s quarterly revenue was down 13.3% on a year-over-year basis. Equities research analysts expect that WEC Energy Group will post 4.88 EPS for the current year.

Insider Buying and Selling

In related news, Chairman Gale E. Klappa sold 37,180 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $78.69, for a total value of $2,925,694.20. Following the sale, the chairman now owns 274,782 shares in the company, valued at $21,622,595.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Chairman Gale E. Klappa sold 37,180 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $78.69, for a total value of $2,925,694.20. Following the sale, the chairman now owns 274,782 shares in the company, valued at $21,622,595.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Scott J. Lauber sold 2,830 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $78.89, for a total transaction of $223,258.70. Following the completion of the sale, the chief executive officer now owns 43,125 shares in the company, valued at approximately $3,402,131.25. The disclosure for this sale can be found here. 0.44% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Opal Wealth Advisors LLC purchased a new position in WEC Energy Group during the first quarter worth $25,000. Northwest Bank & Trust Co purchased a new position in WEC Energy Group during the fourth quarter worth $25,000. Tennessee Valley Asset Management Partners purchased a new position in WEC Energy Group during the fourth quarter worth $26,000. Valued Wealth Advisors LLC purchased a new position in WEC Energy Group during the fourth quarter worth $28,000. Finally, First United Bank & Trust purchased a new position in WEC Energy Group during the fourth quarter worth $30,000. 77.20% of the stock is owned by hedge funds and other institutional investors.

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.