Barclays Forecasts Strong Price Appreciation for WEC Energy Group (NYSE:WEC) Stock

WEC Energy Group (NYSE:WEC) had its price target lifted by equities research analysts at Barclays from $105.00 to $110.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the utilities provider’s stock. Barclays‘s target price would suggest a potential upside of 0.26% from the company’s previous close.

Several other equities research analysts have also recently weighed in on the stock. Scotiabank boosted their price target on shares of WEC Energy Group from $129.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, October 31st. KeyCorp restated an “overweight” rating on shares of WEC Energy Group in a report on Friday, January 16th. TD Cowen assumed coverage on WEC Energy Group in a report on Thursday, October 16th. They set a “hold” rating and a $125.00 price target on the stock. BTIG Research raised shares of WEC Energy Group to a “strong-buy” rating in a research report on Wednesday, October 22nd. Finally, JPMorgan Chase & Co. lifted their target price on WEC Energy Group from $113.00 to $115.00 and gave the stock a “neutral” rating in a research report on Thursday, January 15th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, WEC Energy Group currently has a consensus rating of “Hold” and a consensus target price of $120.64.

WEC Energy Group Price Performance

Shares of WEC stock traded up $0.20 during trading hours on Thursday, hitting $109.72. The stock had a trading volume of 879,273 shares, compared to its average volume of 1,869,703. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.50 and a quick ratio of 0.33. The stock has a market capitalization of $35.69 billion, a price-to-earnings ratio of 20.75, a PEG ratio of 2.58 and a beta of 0.58. WEC Energy Group has a one year low of $96.37 and a one year high of $118.18. The stock’s 50-day moving average price is $107.23 and its two-hundred day moving average price is $109.33.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Thursday, October 30th. The utilities provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.02. WEC Energy Group had a return on equity of 12.60% and a net margin of 17.75%.The business had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter last year, the business posted $0.82 EPS. The firm’s revenue for the quarter was up 12.9% compared to the same quarter last year. WEC Energy Group has set its FY 2025 guidance at 5.170-5.270 EPS. Equities analysts forecast that WEC Energy Group will post 5.23 EPS for the current year.

Institutional Trading of WEC Energy Group

Several institutional investors have recently modified their holdings of the stock. Bayforest Capital Ltd acquired a new stake in WEC Energy Group during the second quarter worth $26,000. CoreFirst Bank & Trust acquired a new position in shares of WEC Energy Group in the 2nd quarter worth approximately $26,000. Osterweis Capital Management Inc. purchased a new position in shares of WEC Energy Group during the 2nd quarter worth approximately $27,000. New England Capital Financial Advisors LLC increased its holdings in WEC Energy Group by 265.8% in the 2nd quarter. New England Capital Financial Advisors LLC now owns 278 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 202 shares during the last quarter. Finally, Harbor Investment Advisory LLC increased its holdings in WEC Energy Group by 256.4% in the 4th quarter. Harbor Investment Advisory LLC now owns 278 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 200 shares during the last quarter. Institutional investors and hedge funds own 77.20% of the company’s stock.

WEC Energy Group Company Profile

WEC Energy Group is a Milwaukee, Wisconsin–based regulated energy holding company whose primary businesses are the generation, transmission and distribution of electricity and the distribution of natural gas. The company operates through a set of utility subsidiaries that provide bundled energy service, customer billing and energy-related programs to residential, commercial and industrial customers. As a regulated utility group, WEC’s operations focus on delivering reliable service while managing infrastructure investment and compliance with state and federal utility regulation.

Its utility subsidiaries include well-known regional operators such as We Energies and Wisconsin Public Service, along with Chicago-area natural gas utilities that were part of the Integrys Energy Group acquisition.