We had success earlier this year owning utility WEC Energy Group, Inc. (WEC), with the stock quickly reaching our target price. With utilities selling off on what has become a “risk-on” environment as traders have sought more aggressive plays, the stock is back close to my original recommendation price, and I am once again advocating purchase of shares.

Growth in renewables should enable WEC to realize mid-single digit EPS gains, and the 3.6% dividend yield should help drive solid total returns. WEC Energy is a buy under $93, my target is $100. I will have more details in next week’s issue.

Buy WEC stock under $93, my target is $100.