Key Highlights:
- WEC Energy (WEC, Financial) increases its quarterly dividend by 0.8% to $0.90 per share, with a forward yield of 3.33%.
- Analyst forecasts show an average target price of $104.74, suggesting a potential downside from the current price.
- The consensus recommendation from brokerage firms suggests a "Hold" status for WEC Energy.
WEC Energy's Dividend Increase
In a recent announcement, WEC Energy (WEC) has boosted its quarterly dividend by 0.8%, elevating it to $0.90 per share. This adjustment translates to a forward yield of 3.33%. Shareholders on record by May 14 can expect their dividend payment on June 1. This move aligns with the company's expansive $28 billion capital strategy, aimed at achieving an EPS between $5.17 and $5.27 by 2025.
Wall Street Analysts Forecast
According to projections from 14 financial analysts, WEC Energy Group Inc (WEC, Financial) is anticipated to reach an average target price of $104.74 within a year. Individual estimates vary, with a high mark at $115.00 and a low at $95.50. The average target suggests a potential downside of 3.37% from the current share price of $108.39. Investors seeking more comprehensive estimate data can explore the WEC Energy Group Inc (WEC) Forecast page.
Brokerage Recommendations
Insights from 18 brokerage firms present an average recommendation rating of 2.6 for WEC Energy Group Inc (WEC, Financial), characterizing it as a "Hold." This rating scale spans from 1 to 5, where 1 signals a Strong Buy, and 5 signifies a Sell.
Evaluating GF Value
Based on the renowned GuruFocus estimates, the expected GF Value for WEC Energy Group Inc (WEC, Financial) over the next year is pegged at $95.34. This evaluation indicates a potential downside of 12.04% from the prevailing stock price of $108.39. The GF Value is GuruFocus' calculation of a stock's fair value, factoring in historical trading multiples and future business growth forecasts. Further insights are available on the WEC Energy Group Inc (WEC) Summary page.
