WEC Energy Group (NYSE:WEC) had its price objective raised by Wells Fargo & Co from $71.00 to $75.00 in a research note issued on Monday, Stock Target Advisor reports. The firm currently has an “outperform” rating on the utilities provider’s stock. Wells Fargo & Co’s price objective points to a potential upside of 9.30% from the stock’s current price.

A number of other analysts have also recently weighed in on WEC. ValuEngine raised WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Wednesday, June 20th. Zacks Investment Research cut WEC Energy Group from a “buy” rating to a “hold” rating in a report on Wednesday, June 20th. Barclays started coverage on WEC Energy Group in a report on Tuesday, July 10th. They issued an “equal weight” rating and a $71.00 price target for the company. Citigroup raised their price target on WEC Energy Group from $61.00 to $63.00 and gave the company a “hold” rating in a report on Tuesday, July 10th. Finally, Scotia Howard Weill started coverage on WEC Energy Group in a report on Tuesday, September 4th. They issued a “sector outperform” rating and a $72.00 price target for the company. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. WEC Energy Group currently has an average rating of “Hold” and an average target price of $69.09.

WEC Energy Group stock opened at $68.62 on Monday. WEC Energy Group has a twelve month low of $58.48 and a twelve month high of $70.09. The company has a quick ratio of 0.44, a current ratio of 0.59 and a debt-to-equity ratio of 0.95. The company has a market cap of $21.71 billion and a price-to-earnings ratio of 21.85.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Tuesday, July 31st. The utilities provider reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.06. WEC Energy Group had a return on equity of 11.18% and a net margin of 16.56%. The company had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same period last year, the firm earned $0.63 EPS. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. research analysts forecast that WEC Energy Group will post 3.32 EPS for the current year.

In related news, insider Frederick D. Kuester sold 168,790 shares of the firm’s stock in a transaction that occurred on Thursday, August 9th. The stock was sold at an average price of $66.94, for a total value of $11,298,802.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Barbara L. Bowles sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $66.45, for a total value of $166,125.00. The disclosure for this sale can be found here. Company insiders own 0.94% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vaughan Nelson Investment Management L.P. purchased a new position in WEC Energy Group during the second quarter worth $47,445,000. Virginia Retirement Systems ET AL increased its position in WEC Energy Group by 433.9% during the second quarter. Virginia Retirement Systems ET AL now owns 512,500 shares of the utilities provider’s stock worth $33,133,000 after buying an additional 416,500 shares in the last quarter. BlackRock Inc. increased its position in WEC Energy Group by 1.5% during the first quarter. BlackRock Inc. now owns 27,220,620 shares of the utilities provider’s stock worth $1,706,733,000 after buying an additional 412,950 shares in the last quarter. OLD Republic International Corp increased its position in WEC Energy Group by 128.4% during the first quarter. OLD Republic International Corp now owns 715,302 shares of the utilities provider’s stock worth $44,201,000 after buying an additional 402,151 shares in the last quarter. Finally, Retirement Systems of Alabama increased its position in WEC Energy Group by 245.1% during the second quarter. Retirement Systems of Alabama now owns 520,237 shares of the utilities provider’s stock worth $33,633,000 after buying an additional 369,496 shares in the last quarter. 73.37% 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 nonregulated renewable energy services in the United States. The company operates through six segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure, and Corporate and Other.

Recommended Story: What is a Stop Order?

Stock Target Advisor

Analyst Recommendations for WEC Energy Group (NYSE:WEC)

Receive News & Ratings for WEC Energy Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WEC Energy Group and related companies with MarketBeat.com's FREE daily email newsletter.