KeyBanc reiterates Overweight rating on WEC Energy Group stock

Investing.com - KeyBanc has reiterated its Overweight rating and $110.00 price target on WEC Energy Group (NYSE:WEC), following meetings with the company’s management team last week. The utility company, which has maintained dividend payments for 55 consecutive years and boasts a current yield of 3.35%, is trading near its 52-week high with a robust 16.18% year-to-date return.

The investment firm hosted WEC’s management for two days of investor meetings, where discussions primarily focused on datacenters and growth opportunities ahead of the company’s capital refresh expected with third-quarter results. According to InvestingPro analysis, WEC currently appears fairly valued, with a "FAIR" overall financial health score.

KeyBanc noted that the meetings reinforced its constructive stance on WEC Energy Group, as the firm believes the company is positioned to be "one of the most notable beneficiaries of the load growth trends in Wisconsin."

The meetings took place last week, with datacenter opportunities emerging as a dominant topic of conversation among investors and management.

WEC Energy Group serves customers in Wisconsin, Illinois, Michigan, and Minnesota, providing electricity and natural gas services to residential, business, and industrial customers.

In other recent news, WEC Energy Group reported strong financial results for the second quarter of 2025. The company posted earnings per share of $0.76, surpassing the consensus estimate of $0.71. Revenue also exceeded expectations, reaching $2.01 billion compared to the anticipated $1.88 billion. These results were primarily driven by robust performance in WEC’s Utility segment. Following the earnings report, Mizuho raised its price target for WEC Energy Group to $117 from $116, maintaining an Outperform rating. The adjustment reflects confidence in the company’s financial health and future prospects. These developments highlight positive investor sentiment surrounding WEC Energy’s recent performance.

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