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Investing.com - Mizuho (NYSE:MFG) raised its price target on WEC Energy Group (NYSE:WEC) to $117.00 from $116.00 on Thursday, while maintaining an Outperform rating on the stock. The utility company, with a market capitalization of $34.88 billion, has seen its shares rise 17.24% year-to-date and currently trades near its 52-week high of $111.
The price target adjustment follows WEC’s second-quarter earnings report, which showed earnings per share of $0.76, exceeding the consensus estimate of $0.71, driven by strong performance in the company’s Utility segment. According to InvestingPro, WEC has maintained dividend payments for 55 consecutive years and raised them for 21 straight years, demonstrating remarkable financial stability. Get access to 6 more exclusive InvestingPro Tips and comprehensive analysis for WEC Energy Group.
Despite the positive earnings results, Mizuho noted that some investors continue to question the pace and scope of build-out around the Microsoft (NASDAQ:MSFT) and Vantage/Cloverleaf complexes.
WEC management has emphasized that the utility will be able to address both the 3.5 GW of long-term needs for Vantage and the 1.3 GW required in the short term by year-end 2027.
The company plans to provide a capital update during its third-quarter earnings call, with Mizuho expecting management to maintain a disciplined approach to its 6.5-7.0% EPS compound annual growth rate until the large customer tariff is in place, which is anticipated for approval around the second quarter of 2026.
In other recent news, WEC Energy Group Inc. reported its financial results for the second quarter of 2025, surpassing analyst expectations. The company achieved earnings per share (EPS) of $0.76, exceeding the forecasted $0.72. Additionally, WEC Energy’s revenue reached $2.01 billion, which was higher than the anticipated $1.88 billion. These results indicate a strong performance for the company during this period. The positive earnings and revenue figures were well-received by investors. These developments are part of the company’s ongoing financial reporting. No significant mergers or acquisitions were reported in conjunction with these earnings. There were also no analyst upgrades or downgrades mentioned in the recent reports.
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