WEC Energy Group (NYSE:WEC) Sets New 52-Week High – Here’s Why

WEC Energy Group, Inc. (NYSE:WEC)’s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $110.19 and last traded at $109.15, with a volume of 994774 shares traded. The stock had previously closed at $106.84.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. StockNews.com cut WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Thursday, February 6th. Scotiabank upped their price objective on shares of WEC Energy Group from $103.00 to $110.00 and gave the company a “sector outperform” rating in a report on Monday, December 9th. BMO Capital Markets boosted their price target on shares of WEC Energy Group from $95.00 to $100.00 and gave the company a “market perform” rating in a research report on Wednesday, February 5th. Wells Fargo & Company raised their price objective on shares of WEC Energy Group from $112.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. Finally, Barclays raised shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $89.00 to $93.00 in a report on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $101.88.

WEC Energy Group Stock Up 1.9 %

The company has a market cap of $34.39 billion, a PE ratio of 22.54, a P/E/G ratio of 2.60 and a beta of 0.45. The company has a quick ratio of 0.43, a current ratio of 0.60 and a debt-to-equity ratio of 1.37. The stock has a 50-day moving average of $100.03 and a 200-day moving average of $97.58.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.06). The company had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.50 billion. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.10 EPS. Sell-side analysts predict that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

Insider Transactions at WEC Energy Group

In other news, Director Ulice Payne, Jr. sold 1,150 shares of WEC Energy Group stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $104.17, for a total value of $119,795.50. Following the sale, the director now directly owns 21,951 shares in the company, valued at approximately $2,286,635.67. This trade represents a 4.98 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gale E. Klappa sold 25,000 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $108.62, for a total value of $2,715,500.00. Following the completion of the sale, the director now directly owns 274,955 shares in the company, valued at approximately $29,865,612.10. The trade was a 8.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Annex Advisory Services LLC increased its stake in shares of WEC Energy Group by 6.5% during the fourth quarter. Annex Advisory Services LLC now owns 110,644 shares of the utilities provider’s stock valued at $10,405,000 after purchasing an additional 6,785 shares in the last quarter. Matrix Trust Co purchased a new stake in shares of WEC Energy Group in the 4th quarter worth approximately $1,538,000. DRW Securities LLC bought a new position in WEC Energy Group during the 3rd quarter valued at approximately $1,392,000. Motley Fool Wealth Management LLC raised its stake in WEC Energy Group by 51.0% during the third quarter. Motley Fool Wealth Management LLC now owns 29,978 shares of the utilities provider’s stock valued at $2,883,000 after buying an additional 10,126 shares during the last quarter. Finally, Gateway Investment Advisers LLC grew its stake in shares of WEC Energy Group by 20.9% in the fourth quarter. Gateway Investment Advisers LLC now owns 453,945 shares of the utilities provider’s stock worth $42,689,000 after acquiring an additional 78,580 shares during the last quarter. 77.20% of the stock is currently owned by 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.