WEC Energy Group (WEC) Stock Forecast & Price Target

$98.69

-0.74 (-0.74%)

(As of 10/22/2024 ET)

WEC Energy Group - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Hold

Based on 11 Analyst Ratings

Sell
3

Hold
4

Buy
4

Based on 11 Wall Street analysts who have issued ratings for WEC Energy Group in the last 12 months, the stock has a consensus rating of "Hold." Out of the 11 analysts, 3 have given a sell rating, 4 have given a hold rating, and 4 have given a buy rating for WEC.

Consensus Price Target

$94.45
-4.29% Downside

According to the 11 analysts' twelve-month price targets for WEC Energy Group, the average price target is $94.45. The highest price target for WEC is $108.00, while the lowest price target for WEC is $84.00. The average price target represents a forecasted downside of -4.29% from the current price of $98.69.

WEC Analyst Ratings Over Time

Type	Current Forecast 10/24/23 to 10/23/24	1 Month Ago 9/24/23 to 9/23/24	3 Months Ago 7/26/23 to 7/25/24	1 Year Ago 10/24/22 to 10/24/23
Strong Buy	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	4 Buy rating(s)	4 Buy rating(s)	4 Buy rating(s)	3 Buy rating(s)
Hold	4 Hold rating(s)	5 Hold rating(s)	5 Hold rating(s)	6 Hold rating(s)
Sell	3 Sell rating(s)	3 Sell rating(s)	3 Sell rating(s)	2 Sell rating(s)
Consensus Price Target	$94.45	$91.31	$86.00	$91.15
Forecasted Upside	-4.29% Downside	-4.07% Downside	3.22% Upside	11.74% Upside
Consensus Rating	Hold	Hold	Hold	Hold

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WEC Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

WEC Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

WEC Energy Group Stock vs. The Competition

Type	WEC Energy Group	Utilities Companies	S&P 500
Consensus Rating Score	2.09	2.50	2.50
Consensus Rating	Hold	Moderate Buy	Hold
Predicted Upside	-4.27% Downside	16.89% Upside	7.90% Upside
News Sentiment Rating	Positive News See Recent WEC News	Neutral News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export to Excel

Date	Brokerage	Action	Rating	Price Target	Upside/Downside on Report Date
10/22/2024	KeyCorp 3 of 5 stars	Boost Target	Overweight ➝ Overweight	$103.00 ➝ $108.00	+8.79%
10/16/2024	Wells Fargo & Company 3 of 5 stars	Boost Target	Overweight ➝ Overweight	$103.00 ➝ $106.00	+8.01%
10/7/2024	Barclays 3 of 5 stars	Boost Target	Underweight ➝ Underweight	$86.00 ➝ $89.00	-5.44%
9/19/2024	Jefferies Financial Group Subscribe to MarketBeat All Access for the recommendation accuracy rating	Initiated Coverage	Hold	$102.00	+8.77%
8/29/2024	Bank of America Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Underperform ➝ Underperform	$88.00 ➝ $90.00	-2.49%
8/23/2024	BMO Capital Markets Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Market Perform ➝ Market Perform	$91.00 ➝ $93.00	+0.04%
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8/20/2024	Scotiabank Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Sector Outperform ➝ Sector Outperform	$90.00 ➝ $103.00	+13.50%
4/10/2024	The Goldman Sachs Group Subscribe to MarketBeat All Access for the recommendation accuracy rating	Initiated Coverage	Neutral	$88.00	+7.43%
2/8/2024	Royal Bank of Canada Subscribe to MarketBeat All Access for the recommendation accuracy rating	Lower Target	Sector Perform ➝ Sector Perform	$95.00 ➝ $90.00	+15.96%
2/2/2024	JPMorgan Chase & Co. Subscribe to MarketBeat All Access for the recommendation accuracy rating	Downgrade	Neutral ➝ Underweight	$90.00 ➝ $84.00	+2.69%
12/18/2023	Mizuho Subscribe to MarketBeat All Access for the recommendation accuracy rating	Lower Target	Buy ➝ Buy	$88.00 ➝ $86.00	+4.46%
10/9/2023	Guggenheim Subscribe to MarketBeat All Access for the recommendation accuracy rating	Lower Target		$94.00 ➝ $84.00	+3.69%
10/4/2023	UBS Group Subscribe to MarketBeat All Access for the recommendation accuracy rating	Lower Target	Neutral ➝ Neutral	$87.00 ➝ $80.00	+1.55%
9/11/2023	LADENBURG THALM/SH SH Subscribe to MarketBeat All Access for the recommendation accuracy rating	Initiated Coverage	Neutral	$85.00	+0.39%
6/30/2023	888 Subscribe to MarketBeat All Access for the recommendation accuracy rating	Reiterated Rating	Reiterates
6/9/2023	Evercore ISI Subscribe to MarketBeat All Access for the recommendation accuracy rating	Lower Target		$98.00 ➝ $91.00	+0.70%
11/3/2022	Credit Suisse Group Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Underperform	$89.00 ➝ $93.00	+2.89%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Wednesday at 05:39 AM ET.

Should I Buy WEC Energy Group Stock? WEC Pros and Cons Explained

These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Wednesday, October 16, 2024. Please send any questions or comments about these WEC Energy Group pros and cons to contact@marketbeat.com.

WEC Energy Group
Bull Case

Here are some ways that investors could benefit from investing in WEC Energy Group, Inc.:

WEC Energy Group, Inc. stock price traded up to $96.31 on October 10, 2024, showing positive momentum.
Recent analyst reports have raised earnings estimates for WEC Energy Group, Inc., indicating potential growth.
Insiders have been selling company stock, which could be seen as a positive sign of confidence in the company's performance.
Multiple Wall Street analysts have given WEC Energy Group, Inc. a "buy" rating, suggesting a favorable outlook.
WEC Energy Group, Inc. has a market cap of $30.42 billion, indicating a strong position in the market.

WEC Energy Group
Bear Case

Investors should be bearish about investing in WEC Energy Group, Inc. for these reasons:

Four investment analysts have rated the stock with a sell rating, indicating some concerns about the company's performance.
StockNews.com downgraded WEC Energy Group from a "hold" to a "sell" rating, signaling potential risks.
The company's P/E ratio of 21.03 and P/E/G ratio of 2.45 may suggest the stock is overvalued compared to its growth prospects.
There have been recent insider sales of company stock, which could raise questions about future performance.
Despite positive analyst ratings, the consensus price target of $91.69 may indicate limited upside potential.

WEC Forecast - Frequently Asked Questions

: According to the research reports of 11 Wall Street equities research analysts, the average twelve-month stock price forecast for WEC Energy Group is $94.45, with a high forecast of $108.00 and a low forecast of $84.00.
: 11 Wall Street analysts have issued "buy," "hold," and "sell" ratings for WEC Energy Group in the last twelve months. There are currently 3 sell ratings, 4 hold ratings and 4 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "hold" WEC shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in WEC, but not buy additional shares or sell existing shares.
: According to analysts, WEC Energy Group's stock has a predicted downside of -4.29% based on their 12-month stock forecasts.
: WEC Energy Group has been rated by research analysts at Bank of America, Barclays, BMO Capital Markets, Jefferies Financial Group, KeyCorp, Scotiabank, and Wells Fargo & Company in the past 90 days.
: Analysts like WEC Energy Group less than other "utilities" companies. The consensus rating score for WEC Energy Group is 2.09 while the average consensus rating score for "utilities" companies is 2.50. Learn more on how WEC compares to other companies.

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This page (NYSE:WEC) was last updated on 10/23/2024 by MarketBeat.com Staff

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WEC Energy Group (WEC) Stock Forecast & Price Target