Short Term Price Target on WEC Energy Group (WEC)

WEC Energy Group (NYSE:WEC) : The highest level WEC Energy Group (NYSE:WEC) is projected to reach is $62 for the short term and the lowest estimate is at $56. The consolidated price target from 5 rating analysts who initiate coverage on the stock is $59.6 and the possibility the share price can swing is $2.51.

Shares of WEC Energy Group, Inc. rose by 4.01% in the last five trading days and 8.02% for the last 4 weeks. WEC Energy Group, Inc. is up 9.79% in the last 3-month period. Year-to-Date the stock performance stands at 29.44%. Also, Brokerage firm UBS upgrades its rating on WEC Energy Group (NYSE:WEC). As per the latest information, the brokerage house raises the price target to $58 per share from a prior target of $53. The shares have been rated Neutral. Previously, the analysts had a Sell rating on the shares. The rating by the firm was issued on May 9, 2016.

WEC Energy Group (NYSE:WEC) has an average broker rating of 2.4, which is interpreted as a Buy, as rated by 10 equity analysts. Nonetheless, 3 analysts are positive on the stocks future and they recommend a Strong Buy on the stock. Nevertheless, the majority of 7 analysts consider that the stock is a Hold with neither a large upside nor a downside. Ranking by Zacks Investment Research for Coach Inc is 3, which is also a Hold.

WEC Energy Group (NYSE:WEC): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $64.25 and $64.04 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $65.30. The buying momentum continued till the end and the stock did not give up its gains. It closed at $65.30, notching a gain of 1.78% for the day. The total traded volume was 3,201,856 . The stock had closed at $64.16 on the previous day.

In an insider trading activity, Klappa Gale E, director of Wec Energy Group, Inc., unloaded 22,000 shares at an average price of $61.53 on June 3, 2016. The total amount of the transaction was worth $1,353,660, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.

WEC Energy Group,Inc., 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.

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