WEC Energy Group Inc (WEC) was Upgraded by UBS to ” Neutral” according to the research note released today. The brokerage firm has raised the Price Target to $ 58 from a previous price target of $53 . Earlier the firm had a rating of “Sell ” on the company shares. UBS advised their investors in a research report released on May 9, 2016.
On the company’s financial health, WEC Energy Group Inc reported $1.09 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on May 3, 2016. Analyst had a consensus of $1.01. The company had revenue of $2194.80 million for the quarter, compared to analysts expectations of $2553.66 million. The company’s revenue was up 58.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.90 EPS.
WEC Energy Group Inc closed down -0.72 points or -1.20% at $59.25 with 24,92,970 shares getting traded on Friday. Post opening the session at $59.94, the shares hit an intraday low of $58.74 and an intraday high of $59.99 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on Apr 4, 2016, Charles R Matthews (President & CEO – PGL/NSG) sold 28,490 shares at $59.58 per share price. According to the SEC, on Mar 7, 2016, Robert M Garvin (Exec Vice President – Ext Affs) sold 1,579 shares at $55.33 per share price. On Feb 25, 2016, Barbara L Bowles (director) sold 2,000 shares at $57.29 per share price, according to the Form-4 filing with the securities and exchange commission.
WEC Energy GroupInc. formerly Wisconsin Energy Corporation is a holding company. The Company operates through two segments: utility energy segment and non-utility energy segment. Its utility energy segment consists of Wisconsin Electric and Wisconsin Gas operating together under the trade name of We Energies. Its non-utility energy segment consists of We Power which owns and leases to Wisconsin Electric generation plants constructed as part of its Power the Future (PTF) strategy. Its other non-utility operations consist of the operations of its subsidiaries Wispark LLC and Bostco LLC. Its principal utilities include Wisconsin Public Service Peoples Gas North Shore Gas Michigan Gas Utilities and Minnesota Energy Resources among others. Its primary subsidiaries are Wisconsin Electric Power Company (Wisconsin Electric) Wisconsin Gas LLC (Wisconsin Gas) W.E. Power LLC (We Power) Integrys Energy Group Inc. and Integrys Holding Inc. among others.