WEC Energy Group saw an improvement in its IBD SmartSelect Composite Rating Wednesday, from 90 to 97.
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The upgrade means the stock is now outpacing 97% of all other stocks in terms of key performance metrics and technical strength. History shows the top market performers tend to have a 95 or higher score as they launch their major climbs.
WEC Energy Group is currently forming a flat base, with a 111.00 entry. Look for the stock to break out in volume at least 40% above average.
The stock sports an 89 EPS Rating, meaning its recent quarterly and annual earnings growth is outpacing 89% of all stocks.
Its Accumulation/Distribution Rating of B- shows moderate buying by institutional investors over the last 13 weeks.
The company posted a 15% earnings-per-share gain for Q1. Revenue growth increased 18%, up from 3% in the prior quarter. That marks two quarters of increasing revenue gains.
WEC Energy Group earns the No. 2 rank among its peers in the Utility-Diversified industry group. Ameren is the No. 1-ranked stock within the group.
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