Bessemer Group Inc. increased its position in WEC Energy Group, Inc. (NYSE:WEC – Free Report) by 1.6% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,148,527 shares of the utilities provider’s stock after purchasing an additional 18,516 shares during the period. Bessemer Group Inc.’s holdings in WEC Energy Group were worth $132,965,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of WEC. Empowered Funds LLC boosted its stake in WEC Energy Group by 16.9% in the first quarter. Empowered Funds LLC now owns 16,698 shares of the utilities provider’s stock valued at $1,820,000 after acquiring an additional 2,417 shares during the period. Woodline Partners LP lifted its holdings in shares of WEC Energy Group by 41.3% in the 1st quarter. Woodline Partners LP now owns 26,839 shares of the utilities provider’s stock worth $2,925,000 after purchasing an additional 7,841 shares during the last quarter. Cerity Partners LLC boosted its position in WEC Energy Group by 7.3% during the 2nd quarter. Cerity Partners LLC now owns 44,286 shares of the utilities provider’s stock valued at $4,616,000 after purchasing an additional 3,006 shares during the period. Qube Research & Technologies Ltd grew its stake in WEC Energy Group by 477.4% during the 2nd quarter. Qube Research & Technologies Ltd now owns 333,552 shares of the utilities provider’s stock worth $34,756,000 after buying an additional 275,786 shares during the last quarter. Finally, NewEdge Advisors LLC grew its stake in WEC Energy Group by 8.8% during the 2nd quarter. NewEdge Advisors LLC now owns 58,364 shares of the utilities provider’s stock worth $6,082,000 after buying an additional 4,730 shares during the last quarter. Institutional investors and hedge funds own 77.20% of the company’s stock.
Insiders Place Their Bets
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 sale, the executive vice president directly owned 7,346 shares of the company’s stock, valued at approximately $815,112.16. This represents a 38.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.46% of the stock is owned by company insiders.
WEC Energy Group Stock Performance
WEC Energy Group (NYSE:WEC – Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.15. The business had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.32 billion. WEC Energy Group had a return on equity of 12.72% and a net margin of 16.25%.The firm’s revenue was up 9.0% compared to the same quarter last year. During the same period last year, the business earned $2.27 EPS. WEC Energy Group has set its FY 2026 guidance at 5.510-5.610 EPS. Analysts anticipate that WEC Energy Group, Inc. will post 5.59 earnings per share for the current fiscal year.
WEC Energy Group Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be paid a $0.9525 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $3.81 annualized dividend and a yield of 3.4%. WEC Energy Group’s payout ratio is currently 76.05%.
Analysts Set New Price Targets
Several research analysts have commented on WEC shares. JPMorgan Chase & Co. upped their target price on shares of WEC Energy Group from $120.00 to $124.00 and gave the stock a “neutral” rating in a research report on Thursday. Truist Financial boosted their price objective on WEC Energy Group from $119.00 to $122.00 and gave the stock a “hold” rating in a research report on Thursday. Wells Fargo & Company restated an “overweight” rating and issued a $127.00 target price on shares of WEC Energy Group in a research report on Tuesday, April 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of WEC Energy Group in a research note on Friday, June 26th. Finally, Barclays boosted their price target 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. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $124.07.
Get Our Latest Report on WEC Energy Group
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.
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