LADENBURG THALM/SH SH lowered shares of WEC Energy Group (NYSE:WEC – Free Report) from a buy rating to a neutral rating in a research note released on Tuesday, MarketBeat.com reports. The brokerage currently has $110.50 price objective on the utilities provider’s stock.
Several other brokerages have also recently commented on WEC. JPMorgan Chase & Co. boosted their price target on WEC Energy Group from $120.00 to $124.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Wells Fargo & Company reiterated an “overweight” rating and issued a $127.00 target price on shares of WEC Energy Group in a research note on Tuesday, April 21st. BMO Capital Markets decreased their target price on shares of WEC Energy Group from $120.00 to $117.00 and set a “market perform” rating for the company in a research report on Wednesday, July 22nd. Weiss Ratings restated a “buy (b)” rating on shares of WEC Energy Group in a research note on Friday, June 26th. Finally, Mizuho set a $124.00 price target on shares of WEC Energy Group in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $122.41.
Check Out Our Latest Research Report on WEC Energy Group
WEC Energy Group Price Performance
WEC Energy Group (NYSE:WEC – Get Free Report) last issued its earnings results on Wednesday, July 29th. The utilities provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.11. WEC Energy Group had a return on equity of 12.90% and a net margin of 16.69%.The company had revenue of $2.06 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same period in the prior year, the firm posted $0.76 EPS. The business’s revenue was up 2.6% compared to the same quarter last year. WEC Energy Group has set its FY 2026 guidance at 5.510-5.610 EPS. Analysts forecast that WEC Energy Group will post 5.59 EPS for the current fiscal year.
WEC Energy Group Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be paid a $0.9525 dividend. This represents a $3.81 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Friday, August 14th. WEC Energy Group’s payout ratio is presently 73.84%.
Insider Activity
In other WEC Energy Group news, EVP Daniel Krueger sold 4,665 shares of the company’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $110.96, for a total transaction of $517,628.40. Following the completion of the sale, the executive vice president directly owned 7,346 shares in the company, valued at $815,112.16. This represents a 38.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.46% of the company’s stock.
Institutional Trading of WEC Energy Group
A number of hedge funds have recently modified their holdings of WEC. Whittier Trust Co. of Nevada Inc. boosted its holdings in WEC Energy Group by 972.7% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 236 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 214 shares in the last quarter. Godfrey Financial Associates Inc. bought a new stake in WEC Energy Group in the fourth quarter valued at $25,000. Torren Management LLC acquired a new position in WEC Energy Group during the fourth quarter worth $26,000. Physician Wealth Advisors Inc. raised its stake in WEC Energy Group by 113.9% during the first quarter. Physician Wealth Advisors Inc. now owns 246 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 131 shares in the last quarter. Finally, Osterweis Capital Management Inc. bought a new position in shares of WEC Energy Group during the second quarter valued at $27,000. Institutional investors own 77.20% of the company’s stock.
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.
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