Analyst at BofA Securities downgraded WEC Energy Group (NYSE:WEC) from Neutral to Underperform, adjusting the price target from $84.00 to $78.00.

The analysts noted that WEC Energy, a utility holding company with regulated electric and gas operations across Wisconsin, Illinois, Minnesota, and Michigan, and unregulated renewable electric generation facilities in the Midwestern US, still trades at about an 11% premium compared to the broader utility group.

This premium is seen as potentially at risk. The downgrade decision stems partly from recent regulatory developments, particularly an unfavorable outcome in Illinois gas regulation, as well as ongoing balance sheet pressures. These factors are expected to constrain the company’s earnings growth in the coming years.

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