WEC Energy Group (NYSE:WEC) Price Target Cut to $108.00 by Analysts at Barclays

Key Points

• Barclays lowered WEC Energy Group’s price target to $108 from $117 while maintaining an “equal weight” rating, implying roughly 1.21% upside from the prior close.
• Analyst sentiment remains moderately positive overall: WEC has an average “Moderate Buy” rating and a consensus price target of $119.17, despite several recent target reductions.
• WEC shares fell $2.01 to $106.70 in Monday trading. The company recently exceeded quarterly earnings expectations, reporting $0.91 in EPS versus the $0.80 consensus estimate, while revenue reached $2.06 billion.

WEC Energy Group (NYSE:WEC - Get Free Report) had its target price dropped by investment analysts at Barclays from $117.00 to $108.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has an "equal weight" rating on the utilities provider's stock. Barclays's price target indicates a potential upside of 1.21% from the company's previous close.

WEC has been the topic of several other research reports. Truist Financial dropped their price objective on WEC Energy Group from $114.00 to $113.00 and set a "hold" rating on the stock in a research note on Friday. Stephens set a $109.00 target price on WEC Energy Group in a research report on Friday. JPMorgan Chase & Co. boosted their target price on WEC Energy Group from $120.00 to $124.00 and gave the company a "neutral" rating in a research note on Thursday, July 16th. KeyCorp lowered their target price on WEC Energy Group from $117.00 to $111.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 13th. Finally, Wall Street Zen raised WEC Energy Group from a "sell" rating to a "hold" rating in a research report on Tuesday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $119.17.

WEC Energy Group Stock Performance

NYSE:WEC traded down $2.01 during trading on Monday, reaching $106.70. The company's stock had a trading volume of 1,040,672 shares, compared to its average volume of 2,250,936. WEC Energy Group has a 12 month low of $99.80 and a 12 month high of $119.91. The firm has a market cap of $34.77 billion, a price-to-earnings ratio of 20.68, a price-to-earnings-growth ratio of 2.24 and a beta of 0.45. The firm has a 50 day moving average of $105.37 and a 200-day moving average of $110.87. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.39 and a current ratio of 0.53.

WEC Energy Group (NYSE:WEC - Get Free Report) last released its earnings results on Wednesday, July 29th. The utilities provider reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.80 by $0.11. The company had revenue of $2.06 billion for the quarter, compared to analysts' expectations of $2.11 billion. WEC Energy Group had a return on equity of 12.90% and a net margin of 16.69%. The business's revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.76 EPS. WEC Energy Group has set its FY 2026 guidance at 5.510-5.610 EPS. Research analysts expect 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 firm'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 value of $103,468.40. Following the completion of the transaction, the director directly owned 19,588 shares of the company's stock, valued at approximately $2,068,101.04. This trade represents a 4.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.46% of the company's stock.

Institutional Investors Weigh In On WEC Energy Group

Several institutional investors have recently made changes to their positions in the stock. Annex Advisory Services LLC boosted its position in WEC Energy Group by 8.6% during the 2nd quarter. Annex Advisory Services LLC now owns 121,431 shares of the utilities provider's stock valued at $14,179,000 after buying an additional 9,591 shares during the period. Sterling Capital Management LLC grew its holdings in WEC Energy Group by 106.3% in the 1st quarter. Sterling Capital Management LLC now owns 44,046 shares of the utilities provider's stock worth $5,099,000 after acquiring an additional 22,697 shares during the last quarter. DAVENPORT & Co LLC increased its position in shares of WEC Energy Group by 15.3% in the second quarter. DAVENPORT & Co LLC now owns 96,430 shares of the utilities provider's stock valued at $11,260,000 after acquiring an additional 12,773 shares during the period. GSA Capital Partners LLP purchased a new position in shares of WEC Energy Group in the second quarter valued at about $2,783,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of WEC Energy Group in the second quarter valued at about $3,773,000. Hedge funds and other institutional investors own 77.20% of the company's stock.

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.

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