Truist Financial Issues Positive Forecast for WEC Energy Group (NYSE:WEC) Stock Price

Key Points

• Truist Financial raised its price target on WEC Energy Group from $119 to $122 while keeping a Hold rating, implying about 7.3% upside from the current share price.
• Analyst sentiment is mixed but generally positive: the stock now has a consensus Moderate Buy rating with an average price target of $123.80.
• WEC Energy Group recently beat quarterly expectations, reporting $2.45 EPS versus $2.30 expected and $3.43 billion in revenue, while shares traded around $113.67 on Thursday.

WEC Energy Group (NYSE:WEC - Get Free Report) had its price target boosted by research analysts at Truist Financial from $119.00 to $122.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a "hold" rating on the utilities provider's stock. Truist Financial's price objective indicates a potential upside of 7.32% from the company's current price.

WEC has been the subject of several other research reports. Mizuho set a $124.00 price target on WEC Energy Group in a research note on Wednesday, May 6th. Weiss Ratings restated a "buy (b)" rating on shares of WEC Energy Group in a report on Friday, June 26th. Barclays upped their target price on WEC Energy Group from $111.00 to $117.00 and gave the stock an "equal weight" rating in a research report on Monday, April 20th. Wells Fargo & Company restated an "overweight" rating and issued a $127.00 price objective on shares of WEC Energy Group in a research note on Tuesday, April 21st. Finally, JPMorgan Chase & Co. decreased their price objective on shares of WEC Energy Group from $125.00 to $120.00 and set a "neutral" rating for the company in a report on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $123.80.

WEC Energy Group Stock Up 0.6%

Shares of WEC Energy Group stock traded up $0.70 during midday trading on Thursday, hitting $113.67. The company's stock had a trading volume of 375,412 shares, compared to its average volume of 2,126,949. The stock has a 50-day simple moving average of $113.56 and a 200-day simple moving average of $113.15. The firm has a market capitalization of $37.03 billion, a P/E ratio of 22.68, a PEG ratio of 2.77 and a beta of 0.47. The company has a quick ratio of 0.54, a current ratio of 0.68 and a debt-to-equity ratio of 1.36. WEC Energy Group has a 1-year low of $102.95 and a 1-year high of $119.91.

WEC Energy Group (NYSE:WEC - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.15. WEC Energy Group had a net margin of 16.25% and a return on equity of 12.72%. The firm had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.32 billion. During the same quarter in the prior year, the business earned $2.27 EPS. The company's revenue for the quarter was up 9.0% compared to the same quarter last year. WEC Energy Group has set its FY 2026 guidance at 5.510-5.610 EPS. As a group, sell-side analysts expect that WEC Energy Group will post 5.59 earnings per share for the current year.

Insider Buying and Selling at WEC Energy Group

In other news, EVP Daniel Krueger sold 4,665 shares of the firm's stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $110.96, for a total transaction of $517,628.40. Following the completion of the sale, the executive vice president owned 7,346 shares of the company's stock, valued at approximately $815,112.16. This trade represents a 38.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.46% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of WEC. Empowered Funds LLC increased its stake in shares of WEC Energy Group by 16.9% in the 1st quarter. Empowered Funds LLC now owns 16,698 shares of the utilities provider's stock valued at $1,820,000 after acquiring an additional 2,417 shares during the last quarter. Woodline Partners LP raised 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 purchasing an additional 7,841 shares during the period. Cerity Partners LLC lifted its holdings in shares of WEC Energy Group by 7.3% during the 2nd quarter. Cerity Partners LLC now owns 44,286 shares of the utilities provider's stock valued at $4,616,000 after purchasing an additional 3,006 shares in the last quarter. Qube Research & Technologies Ltd lifted its holdings in shares of WEC Energy Group by 477.4% during the 2nd quarter. Qube Research & Technologies Ltd now owns 333,552 shares of the utilities provider's stock valued at $34,756,000 after purchasing an additional 275,786 shares in the last quarter. Finally, NewEdge Advisors LLC grew its position in shares of WEC Energy Group by 8.8% in the 2nd quarter. NewEdge Advisors LLC now owns 58,364 shares of the utilities provider's stock valued at $6,082,000 after purchasing an additional 4,730 shares during the period. Institutional investors and hedge funds own 77.20% of the company's stock.

About WEC Energy Group

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.

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