WEC Energy Group (NYSE:WEC) Earns Buy (B-) Rating from Weiss Ratings

WEC Energy Group (NYSE:WEC)‘s stock had its “buy (b-)” rating reissued by investment analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Other research analysts have also recently issued reports about the company. Citigroup initiated coverage on WEC Energy Group in a report on Friday, October 3rd. They issued a “buy” rating and a $131.00 price target for the company. The Goldman Sachs Group cut WEC Energy Group from a “neutral” rating to a “sell” rating and cut their price target for the company from $106.00 to $100.00 in a report on Wednesday, June 25th. UBS Group set a $107.00 price objective on WEC Energy Group and gave the stock a “neutral” rating in a report on Friday, July 11th. Scotiabank boosted their price objective on WEC Energy Group from $115.00 to $129.00 and gave the stock an “outperform” rating in a report on Monday. Finally, Wall Street Zen raised WEC Energy Group from a “sell” rating to a “hold” rating in a report on Saturday, October 4th. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $110.70.

WEC Energy Group Stock Performance

WEC Energy Group stock opened at $113.88 on Wednesday. The stock has a 50-day simple moving average of $109.85 and a 200 day simple moving average of $107.59. The company has a quick ratio of 0.40, a current ratio of 0.55 and a debt-to-equity ratio of 1.28. WEC Energy Group has a 12-month low of $91.94 and a 12-month high of $115.90. The stock has a market capitalization of $36.65 billion, a price-to-earnings ratio of 21.82, a P/E/G ratio of 3.15 and a beta of 0.47.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.05. WEC Energy Group had a return on equity of 12.90% and a net margin of 17.87%.The business had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the previous year, the business posted $0.67 earnings per share. The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. WEC Energy Group has set its FY 2025 guidance at 5.170-5.270 EPS. On average, research analysts anticipate that WEC Energy Group will post 5.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Ulice Payne, Jr. sold 1,620 shares of the company’s stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $111.00, for a total value of $179,820.00. Following the completion of the sale, the director directly owned 20,360 shares of the company’s stock, valued at $2,259,960. This represents a 7.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Molly A. Mulroy sold 4,030 shares of the company’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $110.33, for a total value of $444,629.90. Following the completion of the sale, the executive vice president directly owned 5,829 shares of the company’s stock, valued at approximately $643,113.57. This trade represents a 40.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 68,448 shares of company stock worth $7,581,132 over the last quarter. Insiders own 0.50% of the company’s stock.

Institutional Trading of WEC Energy Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Horizon Investment Services LLC bought a new stake in shares of WEC Energy Group in the 1st quarter valued at about $379,000. Los Angeles Capital Management LLC grew its position in shares of WEC Energy Group by 2,964.9% in the 1st quarter. Los Angeles Capital Management LLC now owns 108,651 shares of the utilities provider’s stock valued at $11,841,000 after purchasing an additional 105,106 shares during the period. AustralianSuper Pty Ltd acquired a new position in shares of WEC Energy Group in the 1st quarter valued at approximately $10,333,000. Sowell Financial Services LLC acquired a new position in shares of WEC Energy Group in the 1st quarter valued at approximately $325,000. Finally, CWA Asset Management Group LLC grew its position in shares of WEC Energy Group by 5.6% in the 1st quarter. CWA Asset Management Group LLC now owns 2,947 shares of the utilities provider’s stock valued at $321,000 after purchasing an additional 157 shares during the period. 77.20% of the stock is owned by institutional investors.

WEC Energy Group Company Profile

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and renewable and nonregulated renewable energy services in the United States. It operates through Wisconsin, Illinois, Other States, Electric Transmission, and Non-Utility Energy Infrastructure segments.