WEC Energy Group (NYSE:WEC) Given New $128.00 Price Target at Scotiabank

Key Points

• Scotiabank raised WEC Energy Group’s price target to $128 from $117 and maintained a “sector outperform” rating, implying approximately 10.2% upside from the reported share price.
• WEC reported quarterly EPS of $1.18, beating the $0.97 consensus estimate, while revenue increased 8.9% year over year to $2.29 billion.
• Analyst sentiment remains mixed: the consensus rating is “Hold,” with eight Buy, nine Hold, and one Sell rating and an average price target of $118.

WEC Energy Group (NYSE:WEC - Get Free Report) had its price objective increased by Scotiabank from $117.00 to $128.00 in a report issued on Friday, Benzinga reports. The firm presently has a "sector outperform" rating on the utilities provider's stock. Scotiabank's target price points to a potential upside of 10.16% from the stock's current price.

A number of other equities research analysts also recently commented on WEC. Weiss Ratings downgraded shares of WEC Energy Group from a "buy (b)" rating to a "buy (b-)" rating in a research report on Friday, September 25th. BMO Capital Markets reissued a "market perform" rating and issued a $117.00 price target (down from $120.00) on shares of WEC Energy Group in a report on Friday, October 16th. UBS Group lifted their price objective on WEC Energy Group from $122.00 to $131.00 in a research note on Monday, July 6th. KeyCorp cut their price target on shares of WEC Energy Group from $117.00 to $111.00 and set an "overweight" rating on the stock in a report on Tuesday, October 13th. Finally, Barclays decreased their price objective on WEC Energy Group from $117.00 to $108.00 and set an "equal weight" rating for the company in a report on Monday, October 19th. Eight analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $118.00.

WEC Energy Group Trading Up 1.4%

Shares of WEC traded up $1.56 during mid-day trading on Friday, hitting $116.19. 3,613,230 shares of the company's stock traded hands, compared to its average volume of 2,280,646. The business's 50-day moving average price is $105.69 and its 200-day moving average price is $111.38. The firm has a market capitalization of $37.86 billion, a P/E ratio of 22.52, a PEG ratio of 2.28 and a beta of 0.45. The company has a quick ratio of 0.39, a current ratio of 0.53 and a debt-to-equity ratio of 1.35. WEC Energy Group has a 1 year low of $99.80 and a 1 year high of $119.91.

WEC Energy Group (NYSE:WEC - Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The utilities provider reported $1.18 EPS for the quarter, beating the consensus estimate of $0.97 by $0.21. The business had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.27 billion. WEC Energy Group had a return on equity of 12.90% and a net margin of 16.69%. The company's revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.83 earnings per share. As a group, sell-side analysts forecast that WEC Energy Group will post 5.60 EPS for the current fiscal year.

Insider Activity at WEC Energy Group

In related news, Director Ulice Payne, Jr. sold 980 shares of the company's stock in a transaction that occurred 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 sale, the director directly owned 19,588 shares in the company, valued at approximately $2,068,101.04. This represents a 4.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.46% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of WEC. Envestnet Asset Management Inc. raised its stake in WEC Energy Group by 3.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 3,734,979 shares of the utilities provider's stock valued at $436,133,000 after purchasing an additional 111,057 shares during the period. Legal & General Group Plc acquired a new stake in shares of WEC Energy Group during the 2nd quarter valued at $299,100,000. PNC Financial Services Group Inc. increased its stake in shares of WEC Energy Group by 0.3% in the first quarter. PNC Financial Services Group Inc. now owns 2,571,015 shares of the utilities provider's stock worth $297,646,000 after acquiring an additional 7,206 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in WEC Energy Group by 5.0% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,644,319 shares of the utilities provider's stock valued at $192,007,000 after purchasing an additional 78,168 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of WEC Energy Group by 3.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,286,276 shares of the utilities provider's stock valued at $148,906,000 after buying an additional 42,403 shares during the last quarter. 77.20% of the stock is owned by hedge funds and other institutional investors.

WEC Energy Group News Summary

Here are the key news stories impacting WEC Energy Group this week:

• Positive Sentiment: Quarterly earnings beat expectations: WEC reported third-quarter earnings of $1.18 per share, well above the $0.97 analyst consensus and up from $0.83 a year earlier. Revenue rose 8.9% year over year to $2.29 billion, helped by strong electricity demand, favorable weather and operating efficiencies. WEC Energy Group reports third-quarter results
• Positive Sentiment: Full-year outlook raised: WEC increased its 2026 earnings guidance following the third-quarter beat, signaling confidence in demand, operations and profitability. WEC Energy Group raises 2026 earnings guidance
• Positive Sentiment: Growth investment plans: The company outlined a $47.5 billion capital plan for 2027–2031 and is targeting 7% to 9%-plus annual EPS growth. WEC is also in discussions for a potential 400-megawatt data-center project, which could support future electricity demand. WEC capital plan and EPS growth targets
• Positive Sentiment: Wells Fargo raised its price target to $129 from $127 and maintained an “overweight” rating, implying further upside based on the cited current price. Wells Fargo WEC recommendation
• Neutral Sentiment: Mixed analyst view: HSBC initiated coverage with a “hold” rating, suggesting the improved outlook is balanced by valuation or execution risks. HSBC initiates WEC coverage
• Negative Sentiment: RBC reduced its price target to $122 from $124 and kept a “sector perform” rating, limiting the extent of the broader analyst optimism. RBC WEC recommendation

About WEC Energy Group

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.