KeyCorp Increases WEC Energy Group (NYSE:WEC) Price Target to $109.00

WEC Energy Group (NYSE:WEC) had its price target raised by equities researchers at KeyCorp from $108.00 to $109.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the utilities provider’s stock. KeyCorp’s price target would indicate a potential upside of 11.55% from the stock’s current price. KeyCorp also issued estimates for WEC Energy Group’s FY2025 earnings at $5.27 EPS.

A number of other analysts have also recently commented on the stock. Jefferies Financial Group assumed coverage on shares of WEC Energy Group in a report on Thursday, September 19th. They set a “hold” rating and a $102.00 target price on the stock. BMO Capital Markets boosted their price objective on shares of WEC Energy Group from $97.00 to $104.00 and gave the stock a “market perform” rating in a research note on Monday. Wells Fargo & Company raised their target price on shares of WEC Energy Group from $103.00 to $106.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. StockNews.com raised WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Finally, Barclays lifted their price objective on WEC Energy Group from $86.00 to $89.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $95.55.

WEC Energy Group Trading Down 0.7 %

Shares of WEC opened at $97.71 on Wednesday. WEC Energy Group has a 1-year low of $75.13 and a 1-year high of $102.79. The firm has a market capitalization of $30.91 billion, a price-to-earnings ratio of 23.89, a PEG ratio of 2.67 and a beta of 0.46. The firm’s 50-day moving average price is $97.63 and its 200-day moving average price is $89.80. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.37.

WEC Energy Group (NYSE:WEC) last announced its earnings results on Thursday, October 31st. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.12. The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.93 billion. WEC Energy Group had a return on equity of 11.72% and a net margin of 15.14%. The business’s revenue was down 4.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.00 EPS. Sell-side analysts anticipate that WEC Energy Group will post 4.87 EPS for the current year.

Insider Activity

In other news, Director Gale E. Klappa sold 40,269 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $99.56, for a total transaction of $4,009,181.64. Following the completion of the sale, the director now owns 273,248 shares of the company’s stock, valued at $27,204,570.88. The trade was a 12.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Scott J. Lauber sold 6,720 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $100.89, for a total value of $677,980.80. Following the completion of the transaction, the chief executive officer now directly owns 45,709 shares in the company, valued at approximately $4,611,581.01. This represents a 12.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 48,794 shares of company stock valued at $4,866,579 over the last three months. Insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On WEC Energy Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WEC. Kingswood Wealth Advisors LLC raised its position in shares of WEC Energy Group by 28.3% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 7,614 shares of the utilities provider’s stock valued at $597,000 after purchasing an additional 1,681 shares during the period. CWM LLC lifted its position in shares of WEC Energy Group by 1.4% in the second quarter. CWM LLC now owns 16,860 shares of the utilities provider’s stock valued at $1,323,000 after acquiring an additional 234 shares in the last quarter. Simplicity Wealth LLC boosted its stake in shares of WEC Energy Group by 2.1% in the second quarter. Simplicity Wealth LLC now owns 7,896 shares of the utilities provider’s stock worth $620,000 after acquiring an additional 165 shares during the period. Csenge Advisory Group boosted its stake in shares of WEC Energy Group by 6.1% in the second quarter. Csenge Advisory Group now owns 7,406 shares of the utilities provider’s stock worth $581,000 after acquiring an additional 424 shares during the period. Finally, Wesbanco Bank Inc. grew its position in shares of WEC Energy Group by 16.5% during the second quarter. Wesbanco Bank Inc. now owns 8,005 shares of the utilities provider’s stock worth $628,000 after purchasing an additional 1,136 shares in the last quarter. 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.