WEC Energy Group, Inc. (WEC), headquartered in Milwaukee, Wisconsin, is a leading energy provider in the United States, delivering electricity, natural gas, and renewable energy to millions of customers across the Midwest. The company operates through the broad segments of Wisconsin, Illinois, Other States, Electric Transmission, and Non-Utility Energy Infrastructure. The company has a market capitalization of $35.39 billion.
Over the past 52 weeks, WEC Energy’s stock has increased by 22.9%, modestly outpacing the 19% gains posted by the broader S&P 500 Index ($SPX) over the same period. WEC Energy’s stock is up 16.9% year-to-date (YTD), while the S&P 500 index has gained almost 10%.
Narrowing our focus to the company’s sector, we see that the stock has also outperformed The Utilities Select Sector SPDR Fund (XLU), which has gained 16.6% over the past 52 weeks and 14.2% YTD.
A favorable macroeconomic environment, characterized by higher infrastructure spending and rising electricity prices, has most likely benefited the company. After reporting better-than-expected second-quarter financial results on July 30, the stock ended three consecutive trading sessions in the green and reached a 52-week high of $111.90 on Aug.5.
WEC Energy’s topline increased 13.4% year-over-year to $2.01 billion. According to CEO Scott Lauber, the strong quarter was driven by a warm start to the summer season, effective capital plan execution, and operational efficiency gains. Its EPS increased 13.4% YOY to $0.76, surpassing the $0.71 figure expected by Wall Street analysts.
For the current year, ending in December 2025, Wall Street analysts expect a 7.2% YOY growth in its EPS to $5.23 on a diluted basis. The company has a mixed history of surpassing consensus estimates, topping them in three of the trailing four quarters and missing them on one occasion.
Among the 15 Wall Street analysts covering WEC Energy’s stock, the consensus is a “Hold.” That’s based on four “Strong Buy” ratings, 10 “Hold” ratings, and one “Strong Sell” rating.
The configuration of the ratings is more bearish than it was two months ago, with the addition of a “Strong Sell” rating, and the overall rating has shifted from a “Moderate Buy” to a “Hold.”
On July 11, UBS analyst Ross Fowler maintained a "Neutral" rating, underscoring the company's stable performance. Fowler has raised the price target from $105 to $107. On the other hand, analysts at Goldman Sachs downgraded the stock from “Neutral” to “Sell” in June, decreasing the price target from $106 to $100. Goldman Sachs analysts expressed concerns about overly optimistic investor expectations.
WEC Energy’s mean price target of $110.35 indicates a marginal upside over current market prices. The Street-high price target of $124 implies a potential upside of 12.8%.
