WEC Energy Group (NYSE:WEC) Price Target Raised to $122.00 at Truist Financial

WEC Energy Group (NYSE:WEC) had its price objective hoisted by Truist Financial from $119.00 to $122.00 in a report released on Thursday,Benzinga reports. The firm currently has a hold rating on the utilities provider’s stock.

Several other research analysts have also issued reports on the stock. Wall Street Zen lowered shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Sunday, May 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of WEC Energy Group in a research note on Friday, June 26th. Wells Fargo & Company reiterated an “overweight” rating and set a $127.00 price objective on shares of WEC Energy Group in a report on Tuesday, April 21st. Barclays increased their price objective on shares of WEC Energy Group from $111.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Monday, April 20th. Finally, Mizuho set a $124.00 target price on WEC Energy Group in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $124.07.

WEC Energy Group Stock Up 1.1%

Shares of WEC opened at $114.27 on Thursday. The stock’s 50-day moving average price is $113.59 and its two-hundred day moving average price is $113.22. WEC Energy Group has a 12 month low of $102.95 and a 12 month high of $119.91. The company has a market capitalization of $37.22 billion, a PE ratio of 22.81, a PEG ratio of 2.72 and a beta of 0.47. The company has a current ratio of 0.68, a quick ratio of 0.54 and a debt-to-equity ratio of 1.36.

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

Insider Activity at WEC Energy Group

In related news, EVP Daniel Krueger sold 4,665 shares of WEC Energy Group stock in a transaction 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 sale, the executive vice president directly owned 7,346 shares in the company, valued at approximately $815,112.16. This trade represents a 38.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.46% of the stock is currently owned by corporate insiders.

Institutional Trading of WEC Energy Group

Large investors have recently bought and sold shares of the company. Godfrey Financial Associates Inc. purchased a new stake in WEC Energy Group in the 4th quarter worth about $25,000. Torren Management LLC purchased a new stake in WEC Energy Group during the fourth quarter valued at about $26,000. Osterweis Capital Management Inc. purchased a new stake in WEC Energy Group during the second quarter valued at about $27,000. Physician Wealth Advisors Inc. boosted its position in 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 period. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in WEC Energy Group by 972.7% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 236 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 214 shares during the period. 77.20% of the stock is owned by hedge funds and other institutional investors.

About WEC Energy Group

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.