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WEC stock rated a Neutral by Goldman

WEC Energy Group Inc’s recently made public that its Executive Chairman KLAPPA GALE E unloaded Company’s shares for reported $2.93 million on Feb 29 ’24. In the deal valued at $78.69 per share,37,180 shares were sold. As a result of this transaction, KLAPPA GALE E now holds 274,782 shares worth roughly $22.75 million.

Then, Lauber Scott J sold 2,830 shares, generating $223,247 in total proceeds. Upon selling the shares at $78.89, the President and CEO now owns 43,125 shares.

Before that, PAYNE ULICE JR sold 600 shares. WEC Energy Group Inc shares valued at $50,079 were divested by the Director at a price of $83.46 per share. As a result of the transaction, PAYNE ULICE JR now holds 20,933 shares, worth roughly $1.73 million.

Goldman initiated its WEC Energy Group Inc [WEC] rating to a Neutral in a research note published on April 10, 2024; the price target was $88. A number of analysts have revised their coverage, including JP Morgan’s analysts, who decreased its forecast for the stock in early February from “a Neutral” to “an Underweight”. BofA Securities also remained covering WEC and has decreased its forecast on January 04, 2024 with a “an Underperform” recommendation from previously “Neutral” rating. BofA Securities revised its rating on October 17, 2023. It rated WEC as “a Neutral” which previously was an “a Buy”.

Price Performance Review of WEC

On Monday, WEC Energy Group Inc [NYSE:WEC] saw its stock jump 1.61% to $82.80. Over the last five days, the stock has gained 1.01%. WEC Energy Group Inc shares have fallen nearly -1.63% since the year began. Nevertheless, the stocks have fallen -14.22% over the past one year. While a 52-week high of $97.34 was reached on 01/04/24, a 52-week low of $75.13 was recorded on 02/13/24. SMA at 50 days reached $80.27, while 200 days put it at $82.74. A total of 1.83 million shares were traded, compared to the trading of 1.95 million shares in the previous session.

Levels Of Support And Resistance For WEC Stock

The 24-hour chart illustrates a support level at 82.15, which if violated will result in even more drops to 81.51. On the upside, there is a resistance level at 83.14. A further resistance level may holdings at 83.48. The Relative Strength Index (RSI) on the 14-day chart is 59.17, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.65, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 3.83%. Stochastics %K at 88.26% indicates the stock is a selling.

The most recent change occurred on September 27, 2023 when RBC Capital Mkts began covering the stock and recommended ‘”a Sector perform”‘ rating along with a $95 price target.

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