WEC Energy Group's (WEC) "Buy (B-)" Rating Reiterated at Weiss Ratings

Key Points

• WEC Energy Group's stock has been given a "Buy (B-)" rating by Weiss Ratings, reaffirming investor confidence in the company despite mixed reviews from other analysts.
• The company reported a significant quarterly revenue increase of 13.4% year-over-year, with earnings per share of $0.76, surpassing analysts' expectations.
• Insider trading activity has seen significant stock sales, with executives selling over 68,000 shares in recent months, indicating potential concerns about the stock's future performance.

WEC Energy Group (NYSE:WEC - Get Free Report)'s stock had its "buy (b-)" rating restated by equities research analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

WEC has been the topic of several other research reports. UBS Group set a $107.00 target price on WEC Energy Group and gave the company a "neutral" rating in a research report on Friday, July 11th. The Goldman Sachs Group lowered WEC Energy Group from a "neutral" rating to a "sell" rating and lowered their target price for the company from $106.00 to $100.00 in a research note on Wednesday, June 25th. Citigroup initiated coverage on WEC Energy Group in a research note on Friday, October 3rd. They set a "buy" rating and a $131.00 price objective on the stock. Wall Street Zen upgraded WEC Energy Group from a "sell" rating to a "hold" rating in a research report on Saturday. Finally, Scotiabank boosted their target price on WEC Energy Group from $115.00 to $129.00 and gave the stock an "outperform" rating in a research report on Monday. Five research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, WEC Energy Group currently has an average rating of "Hold" and an average price target of $110.70.

WEC Energy Group Stock Down 0.7%

Shares of NYSE:WEC traded down $0.79 during trading on Wednesday, hitting $114.41. 512,589 shares of the company were exchanged, compared to its average volume of 2,192,525. The firm has a fifty day moving average price of $109.63 and a two-hundred day moving average price of $107.48. The stock has a market cap of $36.82 billion, a price-to-earnings ratio of 21.92, a P/E/G ratio of 3.15 and a beta of 0.47. WEC Energy Group has a fifty-two week low of $91.94 and a fifty-two week high of $115.90. The company has a current ratio of 0.55, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28.

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

Insiders Place Their Bets

In other news, VP Anthony Reese sold 4,177 shares of the business's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $110.30, for a total value of $460,723.10. Following the transaction, the vice president directly owned 1,757 shares in the company, valued at $193,797.10. The trade was a 70.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Daniel Krueger sold 5,930 shares of the business's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $111.14, for a total value of $659,060.20. Following the completion of the sale, the executive vice president owned 6,606 shares in the company, valued at $734,190.84. This represents a 47.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 68,448 shares of company stock valued at $7,581,132. Insiders own 0.50% of the company's stock.

Institutional Trading of WEC Energy Group

Hedge funds have recently bought and sold shares of the stock. Verdence Capital Advisors LLC lifted its holdings in shares of WEC Energy Group by 1.6% during the 2nd quarter. Verdence Capital Advisors LLC now owns 5,712 shares of the utilities provider's stock valued at $595,000 after purchasing an additional 92 shares during the last quarter. Manchester Capital Management LLC grew its position in shares of WEC Energy Group by 14.3% during the 1st quarter. Manchester Capital Management LLC now owns 744 shares of the utilities provider's stock valued at $81,000 after acquiring an additional 93 shares during the period. MTM Investment Management LLC boosted its holdings in WEC Energy Group by 3.6% in the 2nd quarter. MTM Investment Management LLC now owns 2,720 shares of the utilities provider's stock worth $283,000 after buying an additional 95 shares during the last quarter. State of Wyoming lifted its stake in WEC Energy Group by 5.7% in the 2nd quarter. State of Wyoming now owns 1,762 shares of the utilities provider's stock worth $184,000 after purchasing an additional 95 shares in the last quarter. Finally, Liberty Capital Management Inc. lifted its stake in WEC Energy Group by 3.8% in the 2nd quarter. Liberty Capital Management Inc. now owns 2,649 shares of the utilities provider's stock worth $276,000 after purchasing an additional 97 shares in the last quarter. Hedge funds and other institutional investors own 77.20% of the company's stock.

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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