WEC Energy Group (NYSE:WEC) Upgraded at Wall Street Zen

Key Points

• WEC Energy Group was upgraded from a "sell" to a "hold" rating by Wall Street Zen, amid mixed opinions from other analysts regarding its stock performance.
• Goldman Sachs downgraded the stock to "sell" with a reduced price target of $100, while Citigroup initiated coverage with a "buy" rating and a price objective of $131.
• The company reported earnings of $0.76 per share for the last quarter, exceeding estimates and indicating a revenue increase of 13.4% compared to the previous year.

WEC Energy Group (NYSE:WEC - Get Free Report) was upgraded by analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Saturday.

Several other analysts have also commented on WEC. The Goldman Sachs Group lowered shares of WEC Energy Group from a "neutral" rating to a "sell" rating and lowered their price target for the company from $106.00 to $100.00 in a research report on Wednesday, June 25th. UBS Group set a $107.00 price target on shares of WEC Energy Group and gave the company a "neutral" rating in a research report on Friday, July 11th. Weiss Ratings reiterated a "buy (b-)" rating on shares of WEC Energy Group in a research report on Saturday, September 27th. Finally, Citigroup assumed coverage on shares of WEC Energy Group in a research note on Friday. They set a "buy" rating and a $131.00 price objective on the stock. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, WEC Energy Group has an average rating of "Hold" and an average price target of $109.30.

WEC Energy Group Trading Up 1.1%

Shares of WEC opened at $113.24 on Friday. The company has a current ratio of 0.55, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28. The firm's 50-day moving average is $109.36 and its two-hundred day moving average is $107.38. WEC Energy Group has a twelve month low of $91.94 and a twelve month high of $114.97. The firm has a market capitalization of $36.45 billion, a P/E ratio of 21.69, a PEG ratio of 3.08 and a beta of 0.47.

WEC Energy Group (NYSE:WEC - Get Free Report) last issued its earnings results on Wednesday, July 30th. The utilities provider reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.05. The company had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.87 billion. WEC Energy Group had a net margin of 17.87% and a return on equity of 12.90%. The firm's revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.67 earnings per share. WEC Energy Group has set its FY 2025 guidance at 5.170-5.270 EPS. On average, research analysts predict that WEC Energy Group will post 5.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Daniel Krueger sold 5,930 shares of the firm's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $111.14, for a total value of $659,060.20. Following the transaction, the executive vice president owned 6,606 shares of the company's stock, valued at approximately $734,190.84. This trade represents a 47.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gale E. Klappa sold 35,000 shares of the firm's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $110.73, for a total transaction of $3,875,550.00. Following the sale, the director directly owned 274,969 shares of the company's stock, valued at approximately $30,447,317.37. The trade was a 11.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 68,448 shares of company stock worth $7,581,132. 0.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On WEC Energy Group

Large investors have recently added to or reduced their stakes in the company. Horizon Investment Services LLC acquired a new stake in WEC Energy Group during the 1st quarter valued at $379,000. Los Angeles Capital Management LLC grew its holdings in WEC Energy Group by 2,964.9% during the 1st quarter. Los Angeles Capital Management LLC now owns 108,651 shares of the utilities provider's stock worth $11,841,000 after acquiring an additional 105,106 shares in the last quarter. AustralianSuper Pty Ltd acquired a new position in WEC Energy Group during the 1st quarter worth $10,333,000. Sowell Financial Services LLC acquired a new position in WEC Energy Group during the 1st quarter worth $325,000. Finally, CWA Asset Management Group LLC grew its holdings in WEC Energy Group by 5.6% during the 1st quarter. CWA Asset Management Group LLC now owns 2,947 shares of the utilities provider's stock worth $321,000 after acquiring an additional 157 shares in the last quarter. 77.20% of the stock is owned by institutional investors and hedge funds.

About WEC Energy Group

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and renewable and nonregulated renewable energy services in the United States. It operates through Wisconsin, Illinois, Other States, Electric Transmission, and Non-Utility Energy Infrastructure segments.

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