WEC Energy Group (NYSE:WEC) Price Target Raised to $124.00

WEC Energy Group (NYSE:WEC) had its price objective boosted by JPMorgan Chase & Co. from $120.00 to $124.00 in a research note published on Thursday morning,Benzinga reports. They currently have a neutral rating on the utilities provider’s stock.

Several other equities analysts also recently commented on the company. Wells Fargo & Company reiterated an “overweight” rating and issued a $127.00 price objective on shares of WEC Energy Group in a research note on Tuesday, April 21st. Truist Financial increased their price objective on WEC Energy Group from $119.00 to $122.00 and gave the company a “hold” rating in a report on Thursday. Weiss Ratings reissued a “buy (b)” rating on shares of WEC Energy Group in a research report on Friday, June 26th. Barclays upped their price target on WEC Energy Group from $111.00 to $117.00 and gave the company an “equal weight” rating in a research report on Monday, April 20th. Finally, Mizuho set a $124.00 price target on WEC Energy Group in a research note on Wednesday, May 6th. One research 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 company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $124.07.

WEC Energy Group Trading Down 1.0%

NYSE WEC opened at $113.36 on Thursday. The stock has a market capitalization of $36.93 billion, a price-to-earnings ratio of 22.63, a PEG ratio of 2.72 and a beta of 0.47. WEC Energy Group has a one year low of $102.95 and a one year high of $119.91. 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 business’s fifty day moving average is $113.63 and its 200-day moving average is $113.22.

WEC Energy Group (NYSE:WEC) last posted its quarterly 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 company had revenue of $3.43 billion during the quarter, compared to analyst estimates 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 for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.27 earnings per share. WEC Energy Group has set its FY 2026 guidance at 5.510-5.610 EPS. Equities research analysts predict that WEC Energy Group will post 5.59 EPS for the current year.

WEC Energy Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be paid a dividend of $0.9525 per share. This represents a $3.81 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Friday, August 14th. WEC Energy Group’s dividend payout ratio is presently 76.05%.

Insider Buying and Selling

In related news, EVP Daniel Krueger sold 4,665 shares of WEC Energy Group stock in a transaction that occurred on Tuesday, May 19th. The shares were 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 directly owned 7,346 shares in the company, valued at approximately $815,112.16. The trade was a 38.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.46% of the company’s stock.

Hedge Funds Weigh In On WEC Energy Group

Large investors have recently made changes to their positions in the stock. Godfrey Financial Associates Inc. bought a new stake in shares of WEC Energy Group during the 4th quarter valued at $25,000. Torren Management LLC purchased a new stake in WEC Energy Group during the 4th quarter worth about $26,000. Osterweis Capital Management Inc. bought a new position in WEC Energy Group in the 2nd quarter worth about $27,000. Physician Wealth Advisors Inc. boosted its stake in WEC Energy Group by 113.9% in the 1st quarter. Physician Wealth Advisors Inc. now owns 246 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 131 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. grew its holdings in WEC Energy Group by 972.7% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 236 shares of the utilities provider’s stock valued at $28,000 after buying an additional 214 shares in the last quarter. 77.20% of the stock is owned by institutional investors.

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.