Scotiabank Expects Higher Earnings for WEC Energy Group

WEC Energy Group, Inc. (NYSE:WEC) – Investment analysts at Scotiabank upped their FY2026 earnings per share (EPS) estimates for WEC Energy Group in a research note issued to investors on Monday, November 2nd. Scotiabank analyst A. Weisel now forecasts that the utilities provider will post earnings per share of $5.64 for the year, up from their prior estimate of $5.59. Scotiabank currently has a “Sector Outperform” rating and a $128.00 price objective on the stock. The consensus estimate for WEC Energy Group’s current full-year earnings is $5.61 per share. Scotiabank also issued estimates for WEC Energy Group’s FY2027 earnings at $6.04 EPS.

WEC Energy Group (NYSE:WEC) last issued its earnings results on Thursday, October 29th. The utilities provider reported $1.18 EPS for the quarter, beating the consensus estimate of $0.97 by $0.21. WEC Energy Group had a net margin of 17.54% and a return on equity of 13.49%. The company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter in the previous year, the company earned $0.83 EPS. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year.

A number of other research firms have also commented on WEC. Jefferies Financial Group reduced their price target on shares of WEC Energy Group from $120.00 to $116.00 and set a “hold” rating on the stock in a research report on Wednesday, October 21st. Wall Street Zen lowered shares of WEC Energy Group from a “hold” rating to a “sell” rating in a report on Saturday, October 31st. Royal Bank Of Canada cut their target price on shares of WEC Energy Group from $124.00 to $122.00 and set a “sector perform” rating for the company in a research note on Monday, October 26th. KeyCorp cut their target price on shares of WEC Energy Group from $117.00 to $111.00 and set an “overweight” rating for the company in a research note on Tuesday, October 13th. Finally, BTIG Research reissued a “buy” rating and issued a $130.00 target price on shares of WEC Energy Group in a report on Friday, October 30th. Eight equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $118.00.

WEC Energy Group Trading Up 2.4%

Shares of WEC Energy Group stock opened at $118.14 on Thursday. WEC Energy Group has a 12-month low of $99.80 and a 12-month high of $119.91. The stock has a market capitalization of $38.87 billion, a P/E ratio of 21.44, a price-to-earnings-growth ratio of 2.38 and a beta of 0.43. The company has a 50-day simple moving average of $106.45 and a 200 day simple moving average of $111.58. The company has a quick ratio of 0.36, a current ratio of 0.53 and a debt-to-equity ratio of 1.34.

WEC Energy Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Friday, November 13th will be issued a $0.9525 dividend. This represents a $3.81 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, November 13th. WEC Energy Group’s payout ratio is currently 69.15%.

Insider Activity

In related news, Director Ulice Payne, Jr. sold 980 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $105.58, for a total transaction of $103,468.40. Following the transaction, the director owned 19,588 shares in the company, valued at $2,068,101.04. This represents a 4.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.46% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On WEC Energy Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. John Boyer Inc. bought a new stake in shares of WEC Energy Group during the third quarter valued at approximately $25,000. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of WEC Energy Group by 972.7% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 236 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 214 shares in the last quarter. Compass Financial Management LLC bought a new position in WEC Energy Group in the 2nd quarter worth approximately $29,000. Paladin Partners LLC bought a new position in WEC Energy Group in the 2nd quarter worth approximately $34,000. Finally, Addison Advisors LLC bought a new position in WEC Energy Group in the 2nd quarter worth approximately $34,000. Institutional investors and hedge funds own 77.20% of the company’s stock.

WEC Energy Group Company Profile

WEC Energy Group, Inc is an energy holding company headquartered in Milwaukee, Wisconsin. Through its operating companies, the company generates and delivers electricity and provides natural gas distribution, storage and related energy services to residential, commercial and industrial customers.

WEC Energy’s principal utility businesses include We Energies and Wisconsin Public Service in Wisconsin, Michigan Gas Utilities, Minnesota Energy Resources, Upper Michigan Energy Resources and North Dakota utility operations.