HSBC Begins Coverage on WEC Energy Group (NYSE:WEC)

Key Points

• HSBC initiated coverage of WEC Energy Group with a “hold” rating and a $106.50 price target, implying 1.83% downside from the prior close.
• Analyst sentiment remains cautious: WEC has a consensus “hold” rating from 17 analysts, with an average price target of $117.88.
• WEC reported quarterly EPS of $0.91, exceeding the $0.80 estimate, while revenue reached $2.06 billion and rose 2.6% year over year.

Equities research analysts at HSBC assumed coverage on shares of WEC Energy Group (NYSE:WEC - Get Free Report) in a research note issued to investors on Thursday, Marketbeat Ratings reports. The brokerage set a "hold" rating and a $106.50 price target on the utilities provider's stock. HSBC's price objective would indicate a potential downside of 1.83% from the company's previous close.

Other research analysts have also recently issued reports about the stock. Stephens set a $109.00 price objective on shares of WEC Energy Group in a report on Friday, October 16th. LADENBURG THALM/SH SH lowered shares of WEC Energy Group from a "buy" rating to a "neutral" rating and set a $110.50 price target for the company. in a research report on Tuesday, August 4th. Barclays reduced their price target on WEC Energy Group from $117.00 to $108.00 and set an "equal weight" rating for the company in a research report on Monday. BMO Capital Markets restated a "market perform" rating on shares of WEC Energy Group in a research note on Friday, October 16th. Finally, KeyCorp lowered their price target on shares of WEC Energy Group from $117.00 to $111.00 and set an "overweight" rating for the company in a report on Tuesday, October 13th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $117.88.

WEC Energy Group Stock Performance

Shares of WEC stock opened at $108.49 on Thursday. The company's fifty day moving average price is $105.42 and its 200-day moving average price is $110.69. The stock has a market cap of $35.35 billion, a PE ratio of 21.03, a price-to-earnings-growth ratio of 2.24 and a beta of 0.45. The company has a current ratio of 0.53, a quick ratio of 0.39 and a debt-to-equity ratio of 1.35. WEC Energy Group has a 12 month low of $99.80 and a 12 month high of $119.91.

WEC Energy Group (NYSE:WEC - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.80 by $0.11. The company had revenue of $2.06 billion during the quarter, compared to analysts' expectations of $2.11 billion. WEC Energy Group had a net margin of 16.69% and a return on equity of 12.90%. WEC Energy Group's revenue was up 2.6% on a year-over-year basis. During the same period last year, the company posted $0.76 EPS. WEC Energy Group has set its FY 2026 guidance at 5.510-5.610 EPS. On average, equities analysts expect that WEC Energy Group will post 5.60 EPS for the current fiscal year.

Insider Buying and Selling at WEC Energy Group

In other news, Director Ulice Payne, Jr. sold 980 shares of the business's stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $105.58, for a total transaction of $103,468.40. Following the completion of the sale, the director owned 19,588 shares of the company's stock, valued at $2,068,101.04. The trade was a 4.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.46% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On WEC Energy Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Legal & General Group Plc bought a new position in shares of WEC Energy Group in the second quarter worth about $299,100,000. Magellan Asset Management Ltd bought a new position in shares of WEC Energy Group during the 2nd quarter valued at approximately $144,582,000. Caisse de depot et placement du Quebec purchased a new stake in WEC Energy Group in the 2nd quarter worth approximately $128,290,000. Energy Income Partners LLC purchased a new stake in WEC Energy Group in the 2nd quarter worth approximately $97,564,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in WEC Energy Group during the 2nd quarter worth approximately $95,395,000. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

WEC Energy Group Company Profile

WEC Energy Group, Inc is an energy holding company headquartered in Milwaukee, Wisconsin. Through its operating companies, the company generates and delivers electricity and provides natural gas distribution, storage and related energy services to residential, commercial and industrial customers.

WEC Energy's principal utility businesses include We Energies and Wisconsin Public Service in Wisconsin, Michigan Gas Utilities, Minnesota Energy Resources, Upper Michigan Energy Resources and North Dakota utility operations.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.