WEC Energy Group (NYSE:WEC) Upgraded by Wall Street Zen to Hold Rating

WEC Energy Group (NYSE:WEC) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

WEC has been the subject of a number of other research reports. Citigroup started coverage on WEC Energy Group in a report on Friday. They issued a “buy” rating and a $131.00 price target for the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of WEC Energy Group in a research report on Saturday, September 27th. The Goldman Sachs Group downgraded shares of WEC Energy Group from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $106.00 to $100.00 in a research report on Wednesday, June 25th. Finally, UBS Group set a $107.00 price target on shares of WEC Energy Group and gave the company a “neutral” rating in a report on Friday, July 11th. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, WEC Energy Group has an average rating of “Hold” and a consensus price target of $109.30.

WEC Energy Group Trading Up 1.1%

NYSE WEC opened at $113.24 on Friday. The stock has a market cap of $36.45 billion, a P/E ratio of 21.69, a PEG ratio of 3.11 and a beta of 0.47. The company’s fifty day simple moving average is $109.36 and its 200-day simple moving average is $107.37. The company has a current ratio of 0.55, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28. WEC Energy Group has a 52 week low of $91.94 and a 52 week high of $114.97.

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, topping the consensus estimate of $0.71 by $0.05. WEC Energy Group had a net margin of 17.87% and a return on equity of 12.90%. The firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the previous year, the firm posted $0.67 EPS. The firm’s quarterly revenue was up 13.4% on a year-over-year basis. WEC Energy Group has set its FY 2025 guidance at 5.170-5.270 EPS. Equities research analysts predict that WEC Energy Group will post 5.23 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Daniel Krueger sold 5,930 shares of the company’s stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $111.14, for a total transaction of $659,060.20. Following the completion of the transaction, the executive vice president directly owned 6,606 shares of the company’s stock, valued at approximately $734,190.84. This represents a 47.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gale E. Klappa sold 35,000 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $110.73, for a total value of $3,875,550.00. Following the sale, the director owned 274,969 shares in the company, valued at $30,447,317.37. The trade was a 11.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 68,448 shares of company stock worth $7,581,132. Corporate insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On WEC Energy Group

Several hedge funds and other institutional investors have recently modified their holdings of WEC. Truvestments Capital LLC acquired a new stake in shares of WEC Energy Group in the 1st quarter worth about $25,000. Nova Wealth Management Inc. acquired a new stake in shares of WEC Energy Group in the first quarter valued at approximately $26,000. Bayforest Capital Ltd acquired a new stake in shares of WEC Energy Group in the second quarter valued at approximately $26,000. CoreFirst Bank & Trust bought a new stake in shares of WEC Energy Group during the second quarter valued at approximately $26,000. Finally, Osterweis Capital Management Inc. acquired a new position in shares of WEC Energy Group during the second quarter worth approximately $27,000. Institutional investors and hedge funds own 77.20% of the company’s stock.

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.