WEC Energy Group, Inc. (NYSE:WEC) Receives $120.64 Average Price Target from Analysts

WEC Energy Group, Inc. (NYSE:WEC) has received an average rating of “Hold” from the sixteen ratings firms that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation, five have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $120.6429.

A number of research firms have recently issued reports on WEC. Wall Street Zen lowered shares of WEC Energy Group from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. Bank of America decreased their target price on shares of WEC Energy Group from $122.00 to $116.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 31st. Mizuho set a $125.00 price target on WEC Energy Group in a research report on Monday, October 27th. JPMorgan Chase & Co. reduced their price objective on WEC Energy Group from $121.00 to $113.00 and set a “neutral” rating on the stock in a research report on Thursday, December 11th. Finally, KeyCorp cut their target price on WEC Energy Group from $123.00 to $117.00 and set an “overweight” rating for the company in a research note on Friday, December 12th.

WEC Energy Group Price Performance

Shares of NYSE WEC opened at $107.02 on Monday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.33 and a current ratio of 0.50. The firm has a market cap of $34.81 billion, a PE ratio of 20.23, a PEG ratio of 2.51 and a beta of 0.58. WEC Energy Group has a one year low of $94.93 and a one year high of $118.18. The firm has a fifty day moving average of $107.57 and a 200 day moving average of $109.18.

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

WEC Energy Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Friday, February 13th will be paid a dividend of $0.9525 per share. This represents a $3.81 dividend on an annualized basis and a yield of 3.6%. This is a boost from WEC Energy Group’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend is Friday, February 13th. WEC Energy Group’s payout ratio is presently 67.49%.

Institutional Trading of WEC Energy Group

Institutional investors have recently made changes to their positions in the company. CVA Family Office LLC lifted its stake in WEC Energy Group by 25.4% during the 3rd quarter. CVA Family Office LLC now owns 440 shares of the utilities provider’s stock worth $50,000 after acquiring an additional 89 shares in the last quarter. Blossom Wealth Management boosted its stake in shares of WEC Energy Group by 1.4% in the third quarter. Blossom Wealth Management now owns 6,439 shares of the utilities provider’s stock valued at $738,000 after purchasing an additional 90 shares during the period. Verdence Capital Advisors LLC grew its holdings in shares of WEC Energy Group by 1.6% in the second quarter. Verdence Capital Advisors LLC now owns 5,712 shares of the utilities provider’s stock valued at $595,000 after purchasing an additional 92 shares in the last quarter. Moors & Cabot Inc. increased its stake in WEC Energy Group by 1.7% during the 3rd quarter. Moors & Cabot Inc. now owns 5,511 shares of the utilities provider’s stock worth $632,000 after buying an additional 93 shares during the period. Finally, MTM Investment Management LLC lifted its holdings in WEC Energy Group by 3.6% during the 2nd quarter. MTM Investment Management LLC now owns 2,720 shares of the utilities provider’s stock worth $283,000 after buying an additional 95 shares in the last quarter. Hedge funds and other 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.