WEC Energy Group (NYSE:WEC) Price Target Raised to $110.00 at Barclays

WEC Energy Group (NYSE:WEC) had its target price hoisted by Barclays from $105.00 to $110.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have an equal weight rating on the utilities provider’s stock.

Several other equities research analysts have also commented on the company. KeyCorp restated an “overweight” rating on shares of WEC Energy Group in a research note on Friday, January 16th. JPMorgan Chase & Co. lifted their price objective on WEC Energy Group from $113.00 to $115.00 and gave the company a “neutral” rating in a research note on Thursday, January 15th. LADENBURG THALM/SH SH upgraded WEC Energy Group from a “neutral” rating to a “buy” rating in a report on Monday, October 13th. BTIG Research upgraded shares of WEC Energy Group to a “strong-buy” rating in a report on Wednesday, October 22nd. Finally, Royal Bank Of Canada set a $131.00 price target on shares of WEC Energy Group in a research report on Monday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $120.64.

WEC Energy Group Stock Performance

NYSE:WEC opened at $109.35 on Thursday. The company has a market cap of $35.57 billion, a P/E ratio of 20.67, a P/E/G ratio of 2.59 and a beta of 0.58. The firm’s 50 day moving average is $107.18 and its two-hundred day moving average is $109.33. WEC Energy Group has a fifty-two week low of $96.37 and a fifty-two week high of $118.18. The company has a quick ratio of 0.33, a current ratio of 0.50 and a debt-to-equity ratio of 1.29.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data on Thursday, October 30th. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.02. The company had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $1.86 billion. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.60%. The business’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.82 EPS. WEC Energy Group has set its FY 2025 guidance at 5.170-5.270 EPS. Analysts expect that WEC Energy Group will post 5.23 EPS for the current year.

WEC Energy Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Friday, February 13th will be paid a dividend of $0.9525 per share. This is a positive change from WEC Energy Group’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend is Friday, February 13th. This represents a $3.81 annualized dividend and a yield of 3.5%. WEC Energy Group’s payout ratio is presently 67.49%.

Institutional Trading of WEC Energy Group

Several large investors have recently modified their holdings of the business. Empowered Funds LLC increased its holdings in WEC Energy Group by 16.9% during the 1st quarter. Empowered Funds LLC now owns 16,698 shares of the utilities provider’s stock worth $1,820,000 after purchasing an additional 2,417 shares during the last quarter. Woodline Partners LP grew its position in shares of WEC Energy Group by 41.3% during the first quarter. Woodline Partners LP now owns 26,839 shares of the utilities provider’s stock worth $2,925,000 after buying an additional 7,841 shares in the last quarter. Ballentine Partners LLC grew its position in shares of WEC Energy Group by 3.5% during the second quarter. Ballentine Partners LLC now owns 5,901 shares of the utilities provider’s stock worth $615,000 after buying an additional 199 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of WEC Energy Group by 9.4% in the second quarter. Public Employees Retirement System of Ohio now owns 106,551 shares of the utilities provider’s stock worth $11,103,000 after buying an additional 9,148 shares during the last quarter. Finally, Mather Group LLC. raised its holdings in WEC Energy Group by 32.5% in the second quarter. Mather Group LLC. now owns 2,203 shares of the utilities provider’s stock valued at $230,000 after acquiring an additional 540 shares in the last quarter. 77.20% of the stock is currently owned by institutional investors and hedge funds.

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.