WEC Energy Group (NYSE:WEC) Price Target Cut to $117.00 by Analysts at KeyCorp

WEC Energy Group (NYSE:WEC) had its price target cut by KeyCorp from $126.00 to $117.00 in a report released on Thursday, Marketbeat.com reports. They currently have an overweight rating on the utilities provider’s stock.

WEC has been the topic of several other research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of WEC Energy Group in a report on Friday, June 26th. Wall Street Zen downgraded WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Sunday, May 24th. BMO Capital Markets cut their price objective on WEC Energy Group from $120.00 to $117.00 and set a “market perform” rating for the company in a report on Wednesday. Mizuho set a $124.00 price objective on shares of WEC Energy Group in a research report on Wednesday, May 6th. Finally, Truist Financial raised their target price on shares of WEC Energy Group from $119.00 to $122.00 and gave the company a “hold” rating in a research note on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $123.20.

WEC Energy Group Stock Performance

NYSE WEC opened at $114.65 on Thursday. The company’s 50 day simple moving average is $113.69 and its two-hundred day simple moving average is $113.47. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.68 and a quick ratio of 0.54. WEC Energy Group has a 1 year low of $102.95 and a 1 year high of $119.91. The stock has a market capitalization of $37.35 billion, a PE ratio of 22.89, a P/E/G ratio of 1.96 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 the consensus estimate of $2.30 by $0.15. The firm had revenue of $3.43 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.27 earnings per share. WEC Energy Group has set its FY 2026 guidance at 5.510-5.610 EPS. Analysts predict that WEC Energy Group will post 5.59 earnings per share for the current fiscal year.

WEC Energy Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be given a dividend of $0.9525 per share. The ex-dividend date is Friday, August 14th. This represents a $3.81 dividend on an annualized basis and a yield of 3.3%. WEC Energy Group’s dividend payout ratio (DPR) is presently 76.05%.

Insider Transactions at WEC Energy Group

In other news, EVP Daniel Krueger sold 4,665 shares of the company’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $110.96, for a total value of $517,628.40. Following the completion of the transaction, the executive vice president directly owned 7,346 shares in the company, valued at approximately $815,112.16. This represents a 38.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.46% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On WEC Energy Group

A number of large investors have recently modified their holdings of WEC. Whittier Trust Co. of Nevada Inc. boosted its stake in WEC Energy Group by 972.7% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 236 shares of the utilities provider’s stock worth $28,000 after buying an additional 214 shares in the last quarter. Godfrey Financial Associates Inc. purchased a new position in shares of WEC Energy Group during the fourth quarter worth approximately $25,000. Torren Management LLC purchased a new position in shares of WEC Energy Group during the fourth quarter worth approximately $26,000. Physician Wealth Advisors Inc. lifted its holdings 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 during the last quarter. Finally, Osterweis Capital Management Inc. bought a new stake in shares of WEC Energy Group in the 2nd quarter worth approximately $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.