Hsbc Holdings PLC reduced its position in WEC Energy Group, Inc. (NYSE:WEC – Free Report) by 8.7% in the 1st quarter, Holdings Channel reports. The institutional investor owned 528,741 shares of the utilities provider’s stock after selling 50,259 shares during the period. Hsbc Holdings PLC’s holdings in WEC Energy Group were worth $61,175,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the company. Godfrey Financial Associates Inc. bought a new position in WEC Energy Group in the fourth quarter valued at about $25,000. Torren Management LLC acquired a new position in WEC Energy Group during the 4th quarter valued at about $26,000. Osterweis Capital Management Inc. acquired a new position in WEC Energy Group during the 2nd quarter valued at about $27,000. Physician Wealth Advisors Inc. boosted its stake in shares of WEC Energy Group by 113.9% in the 1st quarter. Physician Wealth Advisors Inc. now owns 246 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 131 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its position in shares of WEC Energy Group by 972.7% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 236 shares of the utilities provider’s stock worth $28,000 after buying an additional 214 shares during the period. Institutional investors and hedge funds own 77.20% of the company’s stock.
Insider Activity at WEC Energy Group
In other news, EVP Daniel Krueger sold 4,665 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $110.96, for a total transaction of $517,628.40. Following the sale, the executive vice president 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 transaction 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 Trading Up 0.0%
WEC Energy Group (NYSE:WEC – Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $2.45 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.15. The business 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%. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.27 EPS. WEC Energy Group has set its FY 2026 guidance at 5.510-5.610 EPS. Equities research analysts predict that WEC Energy Group, Inc. will post 5.59 EPS for the current year.
WEC Energy Group Dividend Announcement
The firm also recently declared 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. This represents a $3.81 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Friday, August 14th. WEC Energy Group’s dividend payout ratio is 76.05%.
Analysts Set New Price Targets
A number of research firms recently weighed in on WEC. Barclays boosted their price target on shares of WEC Energy Group from $111.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Monday, April 20th. JPMorgan Chase & Co. lifted their target price on shares of WEC Energy Group from $120.00 to $124.00 and gave the stock a “neutral” rating in a report on Thursday. Mizuho set a $124.00 target price on shares of WEC Energy Group in a research report on Wednesday, May 6th. Wall Street Zen downgraded WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Sunday, May 24th. Finally, Wells Fargo & Company restated an “overweight” rating and issued a $127.00 price target on shares of WEC Energy Group in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $124.07.
Check Out Our Latest Research Report on WEC
WEC Energy Group 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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