WEC Energy Group (NYSE:WEC) Price Target Cut to $95.00

WEC Energy Group (NYSE:WEC) had its price objective cut by KeyCorp from $96.00 to $95.00 in a research note issued to investors on Monday, Benzinga reports. They currently have an overweight rating on the utilities provider’s stock. KeyCorp also issued estimates for WEC Energy Group’s Q2 2024 earnings at $0.64 EPS, Q3 2024 earnings at $1.11 EPS, Q4 2024 earnings at $1.16 EPS and FY2028 earnings at $6.26 EPS.

WEC has been the subject of a number of other research reports. StockNews.com raised WEC Energy Group from a sell rating to a hold rating in a report on Thursday, May 9th. Barclays increased their price target on WEC Energy Group from $78.00 to $80.00 and gave the stock an underweight rating in a research report on Monday. The Goldman Sachs Group assumed coverage on WEC Energy Group in a research note on Wednesday, April 10th. They set a neutral rating and a $88.00 price objective for the company. BMO Capital Markets dropped their target price on WEC Energy Group from $90.00 to $87.00 and set a market perform rating on the stock in a report on Monday. Finally, Scotiabank decreased their price target on WEC Energy Group from $96.00 to $90.00 and set a sector outperform rating for the company in a report on Monday, April 22nd. 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. Based on data from MarketBeat, WEC Energy Group presently has an average rating of Hold and an average price target of $86.00.

WEC Energy Group Stock Down 0.3 %

Shares of WEC Energy Group stock opened at $83.32 on Monday. The company has a quick ratio of 0.42, a current ratio of 0.55 and a debt-to-equity ratio of 1.24. The company has a market cap of $26.31 billion, a P/E ratio of 18.19, a PEG ratio of 2.11 and a beta of 0.41. The firm’s 50 day moving average price is $80.09 and its 200-day moving average price is $80.56. WEC Energy Group has a 52-week low of $75.13 and a 52-week high of $93.37.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $1.97 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.07. The company had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.92 billion. WEC Energy Group had a return on equity of 13.01% and a net margin of 16.67%. The firm’s revenue was down 7.2% compared to the same quarter last year. During the same period last year, the business posted $1.61 earnings per share. On average, sell-side analysts predict that WEC Energy Group will post 4.88 EPS for the current fiscal year.

WEC Energy Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 14th will be issued a $0.835 dividend. This represents a $3.34 annualized dividend and a yield of 4.01%. The ex-dividend date is Wednesday, August 14th. WEC Energy Group’s payout ratio is presently 72.93%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Northwest Bank & Trust Co purchased a new stake in shares of WEC Energy Group during the fourth quarter worth approximately $25,000. Opal Wealth Advisors LLC purchased a new stake in WEC Energy Group during the 1st quarter valued at about $25,000. Tennessee Valley Asset Management Partners acquired a new stake in WEC Energy Group in the 4th quarter valued at about $26,000. Olistico Wealth LLC purchased a new position in WEC Energy Group in the 2nd quarter worth approximately $29,000. Finally, First United Bank & Trust acquired a new position in shares of WEC Energy Group during the 4th quarter worth approximately $30,000. 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.