Magellan Asset Management Ltd lowered its stake in WEC Energy Group, Inc. (NYSE:WEC – Free Report) by 1.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,261,329 shares of the utilities provider’s stock after selling 23,784 shares during the period. WEC Energy Group accounts for 1.9% of Magellan Asset Management Ltd’s portfolio, making the stock its 23rd largest position. Magellan Asset Management Ltd’s holdings in WEC Energy Group were worth $146,024,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently bought and sold shares of the company. Vaughan Nelson Investment Management L.P. increased its stake in shares of WEC Energy Group by 26.2% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 529,319 shares of the utilities provider’s stock valued at $55,822,000 after buying an additional 109,745 shares during the period. Oak Thistle LLC acquired a new position in shares of WEC Energy Group during the fourth quarter valued at $5,363,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of WEC Energy Group by 24.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 53,220 shares of the utilities provider’s stock valued at $5,613,000 after acquiring an additional 10,606 shares during the period. Pictet Asset Management Holding SA boosted its holdings in WEC Energy Group by 195.1% in the fourth quarter. Pictet Asset Management Holding SA now owns 482,309 shares of the utilities provider’s stock valued at $50,864,000 after acquiring an additional 318,846 shares during the last quarter. Finally, Country Trust Bank boosted its holdings in WEC Energy Group by 6.3% in the fourth quarter. Country Trust Bank now owns 255,685 shares of the utilities provider’s stock valued at $26,965,000 after acquiring an additional 15,182 shares during the last quarter. Institutional investors own 77.20% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on WEC. Barclays lifted their price objective on WEC Energy Group from $111.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Monday, April 20th. JPMorgan Chase & Co. upped their target price on shares of WEC Energy Group from $120.00 to $124.00 and gave the company a “neutral” rating in a research report on Thursday, July 16th. Truist Financial raised their target price on shares of WEC Energy Group from $119.00 to $122.00 and gave the company a “hold” rating in a research note on Thursday, July 16th. Weiss Ratings reiterated a “buy (b)” rating on shares of WEC Energy Group in a research report on Friday, June 26th. Finally, Mizuho set a $124.00 price target on shares of WEC Energy Group in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $124.07.
Insider Buying and Selling at WEC Energy Group
In other news, EVP Daniel Krueger sold 4,665 shares of WEC Energy Group stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $110.96, for a total transaction of $517,628.40. Following the transaction, the executive vice president directly owned 7,346 shares of the company’s stock, valued at $815,112.16. This trade represents a 38.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.46% of the stock is currently owned by corporate insiders.
WEC Energy Group Stock Performance
Shares of WEC stock opened at $111.68 on Wednesday. The stock has a market cap of $36.38 billion, a PE ratio of 22.29, a price-to-earnings-growth ratio of 1.95 and a beta of 0.47. The stock has a 50-day moving average of $113.61 and a 200-day moving average of $113.36. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.68 and a quick ratio of 0.54. WEC Energy Group, Inc. has a one year low of $102.95 and a one year high of $119.91.
WEC Energy Group (NYSE:WEC – Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $2.45 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.15. The business had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.32 billion. WEC Energy Group had a net margin of 16.25% and a return on equity of 12.72%. WEC Energy Group’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.27 EPS. WEC Energy Group has set its FY 2026 guidance at 5.510-5.610 EPS. As a group, sell-side analysts expect that WEC Energy Group, Inc. will post 5.59 earnings per share for the current year.
WEC Energy Group Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be issued a $0.9525 dividend. The ex-dividend date is Friday, August 14th. This represents a $3.81 annualized dividend and a yield of 3.4%. WEC Energy Group’s dividend payout ratio (DPR) is 76.05%.
WEC Energy Group Company Profile
WEC Energy Group is a Milwaukee, Wisconsin–based regulated energy holding company whose primary businesses are the generation, transmission and distribution of electricity and the distribution of natural gas. The company operates through a set of utility subsidiaries that provide bundled energy service, customer billing and energy-related programs to residential, commercial and industrial customers. As a regulated utility group, WEC’s operations focus on delivering reliable service while managing infrastructure investment and compliance with state and federal utility regulation.
Its utility subsidiaries include well-known regional operators such as We Energies and Wisconsin Public Service, along with Chicago-area natural gas utilities that were part of the Integrys Energy Group acquisition.
Featured Articles
- Five stocks we like better than WEC Energy Group
- Confidence Is Back, But Earnings Show the Consumer Is Being Picky
- AeroVironment’s Stock Is Down, But Drone Demand Is Taking Off
- 3M’s Redemption Arc: Can Q2 Earnings Change the Narrative?
- 3 Photonics Companies Making Quantum Tech Possible
Want to see what other hedge funds are holding WEC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WEC Energy Group, Inc. (NYSE:WEC – Free Report).
Receive News & Ratings for WEC Energy Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WEC Energy Group and related companies with MarketBeat.com's FREE daily email newsletter.
