WEC Energy Group (NYSE:WEC) Reaches New 12-Month High - Here's What Happened

Key Points

• WEC Energy Group shares hit a new 52-week high on Tuesday, reaching as high as $119.91 intraday and closing near $119.48, up about 1.2% on the day.
• Analysts remain broadly positive on the stock, with a consensus rating of “Moderate Buy” and an average price target of $123.60, though some firms recently trimmed or downgraded their outlooks.
• The utility reported better-than-expected quarterly results, posting $2.45 EPS and $3.43 billion in revenue, and it continues to pay a quarterly dividend of $0.9525 per share, equal to a 3.2% annual yield.

WEC Energy Group, Inc. (NYSE:WEC - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $119.91 and last traded at $119.4760, with a volume of 159430 shares trading hands. The stock had previously closed at $116.63.

Analysts Set New Price Targets

Several research analysts have commented on the company. Mizuho set a $124.00 target price on WEC Energy Group in a research note on Wednesday, May 6th. Truist Financial lowered their price target on shares of WEC Energy Group from $124.00 to $119.00 and set a "hold" rating on the stock in a report on Monday, May 18th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $127.00 price objective on shares of WEC Energy Group in a research note on Tuesday, April 21st. Wall Street Zen lowered shares of WEC Energy Group from a "hold" rating to a "sell" rating in a report on Sunday, May 24th. Finally, Barclays increased their target price on shares of WEC Energy Group from $111.00 to $117.00 and gave the stock an "equal weight" rating in a research note on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, WEC Energy Group has an average rating of "Moderate Buy" and a consensus price target of $123.60.

WEC Energy Group Trading Up 1.2%

The stock has a market cap of $38.43 billion, a PE ratio of 23.56, a PEG ratio of 2.86 and a beta of 0.47. The company has a current ratio of 0.68, a quick ratio of 0.54 and a debt-to-equity ratio of 1.36. The firm has a fifty day simple moving average of $113.54 and a two-hundred day simple moving average of $112.56.

WEC Energy Group (NYSE:WEC - Get Free Report) last posted its quarterly earnings data 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. WEC Energy Group had a net margin of 16.25% and a return on equity of 12.72%. The company had revenue of $3.43 billion for the quarter, compared to analysts' expectations of $3.32 billion. During the same period in the prior year, the business earned $2.27 earnings per share. WEC Energy Group'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, equities analysts expect that WEC Energy Group, Inc. will post 5.59 earnings per share for the current fiscal year.

WEC Energy Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Thursday, May 14th were issued a dividend of $0.9525 per share. This represents a $3.81 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Thursday, May 14th. WEC Energy Group's payout ratio is currently 76.05%.

Insider Transactions at WEC Energy Group

In related news, EVP Daniel Krueger sold 4,665 shares of the stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $110.96, for a total value of $517,628.40. Following the transaction, the executive vice president owned 7,346 shares of the company's stock, valued at $815,112.16. This represents a 38.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.46% of the company's stock.

Hedge Funds Weigh In On WEC Energy Group

Several institutional investors have recently modified their holdings of the company. Godfrey Financial Associates Inc. purchased a new stake in WEC Energy Group in the fourth quarter worth approximately $25,000. Torren Management LLC purchased a new stake in shares of WEC Energy Group in the 4th quarter valued at $26,000. Osterweis Capital Management Inc. bought a new position in shares of WEC Energy Group during the 2nd quarter valued at $27,000. Physician Wealth Advisors Inc. raised its position in 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 purchasing an additional 131 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. raised its position in WEC Energy Group by 972.7% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 236 shares of the utilities provider's stock worth $28,000 after purchasing an additional 214 shares during the period. 77.20% of the stock is currently owned by 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.

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