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

WEC Energy Group (NYSE:WEC) had its price target hoisted by Truist Financial from $119.00 to $122.00 in a research report sent to investors on Thursday,Benzinga reports. The firm currently has a hold rating on the utilities provider’s stock.

A number of other equities analysts also recently commented on the company. Mizuho set a $124.00 target price on WEC Energy Group in a report on Wednesday, May 6th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $127.00 price target on shares of WEC Energy Group in a research note on Tuesday, April 21st. Weiss Ratings reiterated a “buy (b)” rating on shares of WEC Energy Group in a report on Friday, June 26th. JPMorgan Chase & Co. reduced their price objective on shares of WEC Energy Group from $125.00 to $120.00 and set a “neutral” rating on the stock in a research report on Thursday, May 14th. Finally, Wall Street Zen cut shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Sunday, May 24th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $124.07.

WEC Energy Group Stock Down 1.0%

Shares of NYSE:WEC opened at $113.36 on Thursday. WEC Energy Group has a 1 year low of $102.95 and a 1 year high of $119.91. The company has a market cap of $36.93 billion, a PE ratio of 22.63, a P/E/G ratio of 2.72 and a beta of 0.47. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.68 and a quick ratio of 0.54. The stock’s 50-day moving average is $113.63 and its 200 day moving average is $113.22.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $2.45 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.15. WEC Energy Group had a return on equity of 12.72% and a net margin of 16.25%.The business had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.32 billion. During the same quarter in the prior year, the company posted $2.27 EPS. WEC Energy Group’s quarterly revenue was up 9.0% compared to the same quarter last year. WEC Energy Group has set its FY 2026 guidance at 5.510-5.610 EPS. Sell-side analysts anticipate that WEC Energy Group will post 5.59 EPS for the current year.

WEC Energy Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be given a $0.9525 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $3.81 annualized dividend and a dividend yield of 3.4%. WEC Energy Group’s dividend payout ratio is currently 76.05%.

Insider Activity at WEC Energy Group

In other news, EVP Daniel Krueger sold 4,665 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $110.96, for a total value of $517,628.40. Following the completion of the transaction, the executive vice president owned 7,346 shares in the company, valued at $815,112.16. This trade represents a 38.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.46% of the stock is currently owned by insiders.

Hedge Funds Weigh In On WEC Energy Group

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in WEC Energy Group by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 41,099,951 shares of the utilities provider’s stock valued at $4,334,401,000 after buying an additional 819,627 shares during the period. Geode Capital Management LLC increased its stake in shares of WEC Energy Group by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 8,838,003 shares of the utilities provider’s stock worth $928,653,000 after acquiring an additional 88,557 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in WEC Energy Group by 1.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,336,861 shares of the utilities provider’s stock valued at $562,826,000 after acquiring an additional 52,467 shares during the period. Northern Trust Corp lifted its position in WEC Energy Group by 1.4% during the 4th quarter. Northern Trust Corp now owns 3,641,145 shares of the utilities provider’s stock valued at $383,995,000 after acquiring an additional 48,903 shares during the period. Finally, Franklin Resources Inc. boosted its stake in WEC Energy Group by 175.0% during the fourth quarter. Franklin Resources Inc. now owns 3,357,608 shares of the utilities provider’s stock worth $354,093,000 after acquiring an additional 2,136,542 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.