JPMorgan Chase & Co. Increases WEC Energy Group (NYSE:WEC) Price Target to $124.00

WEC Energy Group (NYSE:WEC) had its price target upped by JPMorgan Chase & Co. from $120.00 to $124.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the utilities provider’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 9.38% from the stock’s previous close.

Several other research analysts have also issued reports on the company. Barclays increased their price target on WEC Energy Group from $111.00 to $117.00 and gave the stock an “equal weight” rating in a report on Monday, April 20th. Truist Financial boosted 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 reaffirmed a “buy (b)” rating on shares of WEC Energy Group in a research report on Friday, June 26th. Mizuho set a $124.00 target price on WEC Energy Group in a report on Wednesday, May 6th. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $127.00 target price on shares of WEC Energy Group in a report on Tuesday, April 21st. 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’s stock. Based on data from MarketBeat, WEC Energy Group has an average 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. WEC Energy Group has a 12 month low of $102.95 and a 12 month high of $119.91. The company has a current ratio of 0.68, a quick ratio of 0.54 and a debt-to-equity ratio of 1.36. The stock has a market capitalization of $36.93 billion, a price-to-earnings ratio of 22.63, a PEG ratio of 2.75 and a beta of 0.47. The firm has a fifty day simple moving average of $113.63 and a two-hundred day simple moving average of $113.22.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data 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 firm had revenue of $3.43 billion for 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 business’s quarterly revenue was up 9.0% compared to the same quarter last year. 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. Analysts expect that WEC Energy Group will post 5.59 EPS for the current fiscal year.

Insider Buying and Selling

In other WEC Energy Group news, EVP Daniel Krueger sold 4,665 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $110.96, for a total transaction of $517,628.40. Following the completion of the sale, the executive vice president directly owned 7,346 shares of the company’s stock, valued at approximately $815,112.16. The trade was a 38.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.46% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of WEC. Whittier Trust Co. of Nevada Inc. lifted 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 acquiring an additional 214 shares in the last quarter. Godfrey Financial Associates Inc. purchased a new position in WEC Energy Group during the 4th quarter worth $25,000. Torren Management LLC bought a new stake in shares of WEC Energy Group in the 4th quarter worth $26,000. Physician Wealth Advisors Inc. grew its stake in shares of 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 acquiring an additional 131 shares in the last quarter. Finally, Osterweis Capital Management Inc. purchased a new stake in shares of WEC Energy Group in the second quarter valued at about $27,000. 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.