What's Going On With WEC Energy Shares Monday?
Written by Emily J. Thompson, Senior Investment Analyst
Source: Benzinga
- WEC Energy Group Acquisition: WEC Energy Group, Inc. is acquiring a 90% ownership interest in the Delilah I Solar Energy Center for $459 million.
- Delilah I Solar Project: The Delilah I project is a 300-megawatt solar facility located near Dallas, Texas, with commercial operations expected to start by the end of June.
- Samson & Delilah Solar Portfolio: Delilah I is part of the five-phase Samson & Delilah solar portfolio, one of the largest solar facilities under construction in the U.S.
- Company's Investment: WEC Energy Group already owns a majority stake in Samson I, another phase of the Samson & Delilah project.
- Future Plans and Earnings: The company plans to release its first-quarter FY24 earnings on May 1 and continues to invest in clean energy projects like Delilah Solar.
Analyst Views on WEC
Wall Street analysts forecast WEC stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for WEC is 120.15 USD with a low forecast of 105.00 USD and a high forecast of 136.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
13 Analyst Rating
4 Buy
8 Hold
1 Sell
Hold
Current: 109.350
Low
105.00
Averages
120.15
High
136.00
Current: 109.350
Low
105.00
Averages
120.15
High
136.00
About WEC
WEC Energy Group, Inc. is a diversified holding company. The Company, through its wholly owned subsidiaries, provides or invests in regulated natural gas and electricity, and renewable energy, as well as non-regulated renewable energy. Its segments include Wisconsin, Illinois, Other states, electric transmission, non-utility energy and infrastructure, and corporate and other segment. The Wisconsin segment is engaged in the generation of electricity and the distribution of electricity and natural gas in Wisconsin and distributes natural gas to customers located in the Upper Peninsula of Michigan. The Illinois segment is engaged in the distribution of natural gas in Illinois. Other states segment engaged primarily in the distribution of natural gas in Minnesota and Michigan. The non-utility energy infrastructure segment consists of We Power, which owns electric power-generating facilities, and Bluewater, which owns underground natural gas storage facilities in Michigan.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
