Principal Financial Group Inc. lowered its stake in shares of WEC Energy Group, Inc. (NYSE:WEC – Free Report) by 7.0% in the first quarter, Holdings Channel reports. The institutional investor owned 1,195,147 shares of the utilities provider’s stock after selling 89,985 shares during the period. Principal Financial Group Inc.’s holdings in WEC Energy Group were worth $138,362,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. Franklin Resources Inc. raised its holdings in WEC Energy Group by 175.0% in the 4th quarter. Franklin Resources Inc. now owns 3,357,608 shares of the utilities provider’s stock valued at $354,093,000 after acquiring an additional 2,136,542 shares in the last quarter. Vanguard Group Inc. increased its position in shares of WEC Energy Group by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 41,099,951 shares of the utilities provider’s stock valued at $4,334,401,000 after purchasing an additional 819,627 shares during the period. Freestone Grove Partners LP increased its position in shares of WEC Energy Group by 30,697.3% during the third quarter. Freestone Grove Partners LP now owns 620,565 shares of the utilities provider’s stock valued at $71,111,000 after purchasing an additional 618,550 shares during the period. Balyasny Asset Management L.P. raised its stake in shares of WEC Energy Group by 324.1% in the second quarter. Balyasny Asset Management L.P. now owns 774,679 shares of the utilities provider’s stock valued at $80,722,000 after purchasing an additional 592,028 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its stake in shares of WEC Energy Group by 603.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 414,028 shares of the utilities provider’s stock valued at $43,664,000 after purchasing an additional 355,144 shares in the last quarter. Institutional investors own 77.20% of the company’s stock.
Analyst Ratings Changes
WEC has been the topic of a number of recent research reports. JPMorgan Chase & Co. decreased their price target on shares of WEC Energy Group from $125.00 to $120.00 and set a “neutral” rating on the stock in a research note on Thursday, May 14th. Truist Financial reduced their price objective on shares of WEC Energy Group from $124.00 to $119.00 and set a “hold” rating for the company in a report on Monday, May 18th. Wells Fargo & Company reiterated an “overweight” rating and set a $127.00 target price on shares of WEC Energy Group in a research report on Tuesday, April 21st. Wall Street Zen cut shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Sunday, May 24th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of WEC Energy Group in a research note on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $123.60.
WEC Energy Group Price Performance
Shares of WEC Energy Group stock opened at $112.99 on Thursday. The stock has a market capitalization of $36.81 billion, a price-to-earnings ratio of 22.55, a P/E/G ratio of 2.77 and a beta of 0.47. The firm’s 50-day moving average price is $113.56 and its two-hundred day moving average price is $113.15. The company has a current ratio of 0.68, a quick ratio of 0.54 and a debt-to-equity ratio of 1.36. WEC Energy Group, Inc. has a 1-year low of $102.95 and a 1-year high of $119.91.
WEC Energy Group (NYSE:WEC – Get Free Report) last posted its earnings results on Tuesday, May 5th. The utilities provider reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.15. The company had revenue of $3.43 billion during the quarter, compared to analysts’ expectations 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 in the previous year, the company posted $2.27 earnings per share. WEC Energy Group has set its FY 2026 guidance at 5.510-5.610 EPS. On average, equities analysts predict that WEC Energy Group, Inc. will post 5.59 earnings per share for the current fiscal year.
Insider Transactions at WEC Energy Group
In other WEC Energy Group news, EVP Daniel Krueger sold 4,665 shares of the business’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $110.96, for a total value of $517,628.40. Following the transaction, the executive vice president owned 7,346 shares of the company’s stock, valued at approximately $815,112.16. The trade was a 38.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.46% of the company’s stock.
About WEC Energy Group
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
- Why Johnson & Johnson’s Earnings Dip Looks Like a Buying Opportunity
- CPI Comes In Cool: Why It Could Revive These 3 Rate-Sensitive Stocks
- Why ASML’s AI Monopoly Is Still Getting Stronger
- Apple’s AI Toll Booth Thesis Faces Its Biggest Test Yet Before Earnings
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.
