Mizuho Securities Starts WEC Energy Group (WEC) at Neutral

April 8, 2021 4:09 PM EDT
Get Alerts WEC Hot Sheet
Price: $96.96 +1.06%

Rating Summary:
    4 Buy, 14 Hold, 5 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 17 | Down: 13 | New: 41
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Mizuho Securities analyst Anthony Crowdell initiates coverage on WEC Energy Group (NYSE: WEC) with a Neutral rating and a price target of $94.00.

The analyst comments "We expect WEC to grow its asset base by 7% annually over the next few years, which will lead to earnings growth of ~6.8% annually through 2023 off the midpoint of the 2020 guidance of $3.73. We view the company as a pure-play regulated utility that operates in premium regulatory jurisdictions. However, we believe its shares are fairly valued, given WEC is trading at a ~17% P/E premium to the electric utility group."

For an analyst ratings summary and ratings history on WEC Energy Group click here. For more ratings news on WEC Energy Group click here.

Shares of WEC Energy Group closed at $93.42 yesterday.

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