Investing in WEC Energy Group Inc. (WEC) Is Getting More Attractive

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WEC Energy Group Inc.’s recently made public that its Sr. VP-Corp Comm & Inv Rel Straka Mary Beth unloaded Company’s shares for reported $0.27 million on Aug 15. In the deal valued at $106.02 per share,2,500 shares were sold. As a result of this transaction, Straka Mary Beth now holds 2,596 shares worth roughly $ 0.23 million.


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Then, Mastoris William sold 4,690 shares, generating $492,630 in total proceeds. Upon selling the shares at $105.04, the EVP-Cust. Svc. and Operations now owns 2,506 shares.

Before that, Garvin Robert M sold 31,480 shares. WEC Energy Group Inc. shares valued at $3,280,484 were divested by the Exec Vice President – Ext Affs at a price of $104.21 per share. As a result of the transaction, Garvin Robert M now holds 11,062 shares, worth roughly $1.0 million.

Credit Suisse downgraded its WEC Energy Group Inc. [WEC] rating to an Underperform from a a Neutral in a research note published on Monday, July 20, 2022; the price target was decreased to $98 from $108. PT values the company’s stock at a premium of 8.04 to its Monday closing price. A number of analysts have revised their coverage, including KeyBanc Capital Markets’s analysts, who increased its forecast for the stock in late June from “a Sector weight” to “an Overweight”. BofA Securities also remained covering WEC and has increased its forecast on May 13, 2022 with a “Buy” recommendation from previously “Neutral” rating. Credit Suisse started covering the stock on April 26, 2022. It rated WEC as “a Neutral”.

Price Performance Review of WEC

On Monday, WEC Energy Group Inc. [NYSE:WEC] saw its stock fall -1.39% to $90.12. On the same session, the stock had its day’s lowest price of $88.48, but rose to a high of $91.31. Over the last five days, the stock has lost -1.32%. WEC Energy Group Inc. shares have fallen nearly -7.16% since the year began. Nevertheless, the stocks have fallen -0.83% over the past one year. While a 52-week high of $108.39 was reached on 05/24/22, a 52-week low of $80.82 was recorded on 10/13/22. SMA at 50 days reached $94.43, while 200 days put it at $98.10. A total of 1.45 million shares were traded, compared to the trading of 0.74 million shares in the previous session.

Levels Of Support And Resistance For WEC Stock

The 24-hour chart illustrates a support level at 88.63, which if violated will result in even more drops to 87.14. On the upside, there is a resistance level at 91.46. A further resistance level may holdings at 92.80. The Relative Strength Index (RSI) on the 14-day chart is 48.90, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.55, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 31.65%. Stochastics %K at 75.38% indicates the stock is a holding.

How much short interest is there in WEC Energy Group Inc.?

A steep rise in short interest was recorded in WEC Energy Group Inc. stocks on Jul 14, 2022, growing by 0.46 million shares to a total of 4.92 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 4.46 million shares. There was a rise of 9.35%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 2.03% of the overall stock float, the days-to-cover ratio (short ratio) rose to 3.29.

WEC Energy Group Inc. [WEC] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 39,238,331 shares, or roughly 12.44% of the outstanding WEC shares. In other words, the investor’s shares have risen by 1,077,868 from its previous 13-F filing of 38160463.0. Additionally, BlackRock Fund Advisors increased 3.26% of its stake after which the total value it holdings stand at $2,034,149,292, while SSgA Funds Management, Inc. added 2.93% of its stake to hold $1.7 billion in the firm. Over the last quarter, Geode Capital Management LLC purchased 211,389 shares of WEC Energy Group Inc., while Magellan Asset Management Ltd. bought -1,039,717 shares. At present, Wells Fargo Clearing Services LLC is holding 6,002,098 shares valued at $536.77 million. T. Rowe Price Associates, Inc. owned 5,902,916 shares of the company at the time of its most recent 13F filing, worth $527.9 million.

According to FactSet, WEC Energy Group Inc.’s share price will average $96.00 in the next year, based on opinions of analysts polled by the firm. This is up nearly 5.59 percent from its previous closing price of $91.39. Analysts expect WEC Energy Group Inc. stock to reach the higher price of $105.00, while the lowest price estimate is $85.00. However, 16 analysts have rated WEC stock as a Hold in their predictions for 2022.

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