Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
WEC Energy was founded in the year 1896. It is an American company based in Wisconsin. The company provides natural gas and electricity to more than 4 million customers. The company operates across more than four states. It has more than 8K employees and the current CEO of the company is Scott J. Lauber.
WEC Energy has an EPS of $4.28 trading with a volume of 2.097M and the market cap is $25.197B. The largest shareholder in the company is Vanguard Group Inc. with 13.34% of the shareholding. The largest percentage of shares held by the institutions is 76.39%.
WEC Energy pays 3.87% of its stock price as dividends, which is 65.33% of its earnings. The average dividend payout ratio for the industry is 66.85%. The company has increased its dividend by +7.22% every year in the last five years, while the industry average is 0.88%.
The gross profit margin ratio for the WEC share is 0.36, resulting in revenue of $9.60B in the year 2022 with a net income of $1.41B and a profit margin of 14.68%. The net income stands at 15% of the total revenue of the WEC Energy company.
WEC Energy Stock Performance Analysis
There has been a huge advance in the debt in WEC Energy stock, resulting in $17.33B in 2022 which was $15.64B in the year 2021. The free cash flow of the company increased to -$146.10M in the year 2022 from -$220.10M in the year 2021. Although the WEC company’s free cash flow is negative, the figures have advanced as compared to the last year.
Price Targets for WEC Stock
The analysts are bullish on WEC share price, aiming for an average target of $95.46 and a maximum level target of $105.00 leading to an upside of 31.45%. Experts are also indicating that the share is trading below its minimum value.
WEC Stock Technical Analysis
WEC Energy share is declining from higher levels, making lower low swing points, leading to a downtrend. This consistent decline in price has also led to the formation of a falling wedge pattern. The stock is on the verge of breaking down below the channel. This decline can lead to a fast decline in the share price of WEC.
As the share price has been consistently declining. The 50-day and the 200-day EMAs are also declining, trading with a death cross in EMAs. Due to a consistent decline in the price of the WEC stock, the RSI has declined below the 50 level. It is also trading in a downtrend, declining below the 14-day SMA. It indicates a bearish signal for the stock.
Conclusion
Despite of the RBC’s rating for a higher price target, there is no sign of bullishness in the stock chart. The WEC share is following a downtrend. EMA and the RSI are also bearish on the chart and the price is on the verge of breaking down below the falling wedge pattern.
Therefore, the share price can decline to further lower levels, hitting the support zones marked on the charts in the upcoming days.
Technical Levels
- Support levels for the WEC share are – $68.00 and $76.00
- Resistance levels for the WEC share are – $99.00 and $108.00
Disclaimer
The information provided in this article, including the views and opinions expressed by the author or any individuals mentioned, is intended for informational purposes only. It is important to note that the article does not provide financial or investment advice. Investing or trading in cryptocurrency assets carries inherent risks and can result in financial loss.
Source: https://www.thecoinrepublic.com/2023/09/29/can-wec-stocks-boost-after-rbc-capitals-price-target-of-95/