WEC Energy Group (NYSE:WEC) Price Target Raised to $122.00

WEC Energy Group (NYSE:WEC) had its price objective raised by stock analysts at Truist Financial from $119.00 to $122.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “hold” rating on the utilities provider’s stock. Truist Financial’s price objective points to a potential upside of 7.32% from the stock’s previous close.

Several other brokerages also recently commented on WEC. Wells Fargo & Company reaffirmed an “overweight” rating and set a $127.00 target price on shares of WEC Energy Group in a report on Tuesday, April 21st. Mizuho set a $124.00 price objective on shares of WEC Energy Group in a research report on Wednesday, May 6th. Weiss Ratings restated a “buy (b)” rating on shares of WEC Energy Group in a report on Friday, June 26th. Barclays increased their target price on WEC Energy Group from $111.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Monday, April 20th. Finally, JPMorgan Chase & Co. dropped their price target on WEC Energy Group from $125.00 to $120.00 and set a “neutral” rating for the company in a report on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $123.80.

WEC Energy Group Stock Up 0.6%

NYSE:WEC traded up $0.70 on Thursday, hitting $113.67. 375,412 shares of the company’s stock were exchanged, compared to its average volume of 2,126,949. The firm has a 50-day moving average price of $113.56 and a 200-day moving average price of $113.15. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.68 and a quick ratio of 0.54. WEC Energy Group has a 52 week low of $102.95 and a 52 week high of $119.91. The company has a market cap of $37.03 billion, a P/E ratio of 22.68, a price-to-earnings-growth ratio of 2.77 and a beta of 0.47.

WEC Energy Group (NYSE:WEC) last released its earnings results on Tuesday, May 5th. The utilities provider reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.15. The business had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.32 billion. WEC Energy Group had a net margin of 16.25% and a return on equity of 12.72%. The firm’s revenue was up 9.0% on a year-over-year basis. During the same period last year, the business earned $2.27 earnings per share. WEC Energy Group has set its FY 2026 guidance at 5.510-5.610 EPS. As a group, analysts expect that WEC Energy Group will post 5.59 EPS for the current fiscal year.

Insider Transactions at WEC Energy Group

In other news, EVP Daniel Krueger sold 4,665 shares of WEC Energy Group stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $110.96, for a total transaction of $517,628.40. Following the transaction, the executive vice president owned 7,346 shares in the company, valued at approximately $815,112.16. The trade was a 38.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.46% of the company’s stock.

Institutional Trading of WEC Energy Group

Several hedge funds have recently modified their holdings of the stock. Empowered Funds LLC boosted its holdings in WEC Energy Group by 16.9% in the first quarter. Empowered Funds LLC now owns 16,698 shares of the utilities provider’s stock worth $1,820,000 after acquiring an additional 2,417 shares in the last quarter. Woodline Partners LP increased its holdings in shares of WEC Energy Group by 41.3% during the first quarter. Woodline Partners LP now owns 26,839 shares of the utilities provider’s stock valued at $2,925,000 after acquiring an additional 7,841 shares in the last quarter. Cerity Partners LLC raised its position in shares of WEC Energy Group by 7.3% during the second quarter. Cerity Partners LLC now owns 44,286 shares of the utilities provider’s stock worth $4,616,000 after purchasing an additional 3,006 shares during the period. Qube Research & Technologies Ltd lifted its holdings in shares of WEC Energy Group by 477.4% in the 2nd quarter. Qube Research & Technologies Ltd now owns 333,552 shares of the utilities provider’s stock worth $34,756,000 after purchasing an additional 275,786 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in shares of WEC Energy Group by 8.8% in the 2nd quarter. NewEdge Advisors LLC now owns 58,364 shares of the utilities provider’s stock worth $6,082,000 after purchasing an additional 4,730 shares in the last quarter. Institutional investors 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.