WEC Energy Group, Inc. (WEC) Ready To Tore A Hole Through The Roof

After opening Thursday at around $77.86, WEC Energy Group, Inc. (NYSE:WEC) stock surged to as high as $78.05. It then made a downturn, dipping as low as $77.31. Although the stock bounced a bit into the close, it finished the day at $77.62, down -0.18 points or -0.23 percent on the day. The final volume for the day was 2.077 million, which was more than its average volume. The firm is left with a market cap of $24.5 billion and now has 315.5 million shares outstanding. WEC Energy Group, Inc. (WEC) stock has gained 3.44 percent of market value in 21 trading days.

WEC stock has a trailing 3-year beta of 0.15, offering the possibility of a lower rate of return, but also posing less risk. The portion of a company’s profit allocated to each outstanding share of common stock was $3.34 a share in the trailing twelve months. The stock’s value has surged 12.07 percent year to date (YTD) against a rise of 27.66 percent in 12 month’s time. The company’s shares still trade -0.32 percent away from its 1-year high of $77.87 and 32.73 percent up from 52-week low of $58.48. The average consensus rating on the company is 2.6, on a scale where 5 equates to a unanimous sell rating. In short, the mean analyst recommendations are calling this stock a sell.

WEC Energy Group, Inc. (WEC) will probably climb -4.24 percent over the next 12 months, according to price target estimates compiled by finviz. Meanwhile, they have set a $81-month high price target. This represents a whopping 4.35 percent increase from where shares are trading today. The 12-month median price target assigned by the analysts stands at $75, which represents a return potential of -3.38 percent when compared to the closing price of the stock of $77.62 on Thursday, March 14. The lowest price target for the stock is $71 — slightly more than -8.53 percent from WEC’s current share price.

History has shown that shares in WEC Energy Group, Inc. have gone up on 18 different earnings reaction days and are predicted to add 0.01 percent when the company reports upcoming earnings. Investors will get their next glimpse of WEC’s Q1 earnings on April 30. Analysts are forecasting revenue to suffer decline of 0 percent to $2.29B in the fiscal first quarter, while earnings are seen soaring by nearly 0.81 percent to $1.24 per share. It earned $0.65 per share, better than the $0.63, adjusted, expected by Thomson Reuters consensus estimate. Revenue was $2.08B, better than the $1.97B analysts expected. Earnings are estimated to increase by 6.3 percent this year, 6.56 percent next year and continue to increase by 4.59 percent annually for the next 5 years.

The stock is currently hovering around the first support level of $77.27. Below this, the next support is placed in the zone of $76.92. Till the time, the WEC stock trades above this level, bulls have nothing to fear. On momentum oscillators front, ‘RSI’ has touched 75.21 on daily chart, which may remain a cause for concern. If the price breaks below $76.92 level on closing basis, then we may see more profit booking and the stock may show further weakness. On the flipside, hitting the $78.01 mark may result into a pull-back move towards $78.4 level.

Shares of WEC Energy Group, Inc. (WEC) are trading at a P/E ratio of 21.08 times earnings reported for the past 12 months. The industry WEC operates in has an average P/E of 13.29. Its P/E ratio went as low as 15.7X and as high as 21.91 over the 5-year span.Further, it is sporting a 3.19 on the Price-to-Sales ratio. Compare this with the industry average P/S of 2.19. 61.7 percent is the gross profit margin for WEC Energy Group, Inc. and operating margin sits at 19.1 percent. Along with this, the net profit margin is 13.8 percent.