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

WEC Energy Group (NYSE:WEC) had its price target raised by research analysts at JPMorgan Chase & Co. from $120.00 to $124.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the utilities provider’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 8.92% from the stock’s current price.

A number of other equities analysts have also recently issued reports on WEC. Mizuho set a $124.00 target price on shares of WEC Energy Group in a research report on Wednesday, May 6th. Barclays upped their target price on WEC Energy Group from $111.00 to $117.00 and gave the company an “equal weight” rating in a research note on Monday, April 20th. Wells Fargo & Company reissued an “overweight” rating and set a $127.00 price target on shares of WEC Energy Group in a research report on Tuesday, April 21st. Truist Financial raised their price target on shares of WEC Energy Group from $119.00 to $122.00 and gave the stock a “hold” rating in a research note on Thursday. Finally, Weiss Ratings restated a “buy (b)” rating on shares of WEC Energy Group in a research report on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, WEC Energy Group has a consensus rating of “Moderate Buy” and a consensus price target of $124.07.

WEC Energy Group Price Performance

WEC Energy Group stock traded up $0.88 during midday trading on Thursday, reaching $113.85. The company’s stock had a trading volume of 634,597 shares, compared to its average volume of 2,128,782. WEC Energy Group has a fifty-two week low of $102.95 and a fifty-two week high of $119.91. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.54 and a current ratio of 0.68. The stock’s 50 day simple moving average is $113.56 and its 200 day simple moving average is $113.15. The firm has a market capitalization of $37.08 billion, a PE ratio of 22.71, a P/E/G ratio of 2.77 and a beta of 0.47.

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

Insider Transactions at WEC Energy Group

In other WEC Energy Group news, EVP Daniel Krueger sold 4,665 shares of the business’s stock in a transaction 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 transaction, the executive vice president owned 7,346 shares in the company, valued at $815,112.16. The trade was a 38.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.46% of the stock is owned by company insiders.

Institutional Trading of WEC Energy Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Whittier Trust Co. of Nevada Inc. grew its stake 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 purchasing an additional 214 shares in the last quarter. Godfrey Financial Associates Inc. bought a new position in WEC Energy Group during the 4th quarter valued at $25,000. Torren Management LLC bought a new stake in shares of WEC Energy Group in the 4th quarter worth about $26,000. Physician Wealth Advisors Inc. lifted its position in shares of WEC Energy Group by 113.9% during the first 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 last quarter. Finally, Osterweis Capital Management Inc. bought a new position in shares of WEC Energy Group during the second quarter worth about $27,000. 77.20% of the stock is owned by hedge funds and other 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.