31,775 Shares in WEC Energy Group, Inc. $WEC Purchased by Global Retirement Partners LLC

Key Points

• Global Retirement Partners LLC purchased 31,775 shares of WEC Energy Group worth approximately $3.71 million, while institutional investors collectively own 77.2% of the company.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $121.91, despite several firms recently lowering targets or downgrading the stock.
• WEC reported quarterly EPS of $0.91, exceeding the $0.80 consensus estimate, and announced a quarterly dividend of $0.9525, equivalent to a 3.4% annualized yield.

Global Retirement Partners LLC purchased a new stake in WEC Energy Group, Inc. (NYSE:WEC - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 31,775 shares of the utilities provider's stock, valued at approximately $3,710,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Empowered Funds LLC increased its position in WEC Energy Group by 16.9% during the first quarter. Empowered Funds LLC now owns 16,698 shares of the utilities provider's stock worth $1,820,000 after purchasing an additional 2,417 shares during the last quarter. Woodline Partners LP boosted 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 valued at $2,925,000 after purchasing an additional 7,841 shares during the last quarter. Cerity Partners LLC boosted its holdings in shares of WEC Energy Group by 7.3% in 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 last quarter. Qube Research & Technologies Ltd grew its stake in shares of 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 valued at $34,756,000 after buying an additional 275,786 shares during the period. Finally, NewEdge Advisors LLC grew its stake in shares of WEC Energy Group by 8.8% during the 2nd quarter. NewEdge Advisors LLC now owns 58,364 shares of the utilities provider's stock valued at $6,082,000 after buying an additional 4,730 shares during the period. Institutional investors and hedge funds own 77.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. BMO Capital Markets cut their target price on WEC Energy Group from $120.00 to $117.00 and set a "market perform" rating on the stock in a research report on Wednesday, July 22nd. Weiss Ratings downgraded WEC Energy Group from a "buy (b)" rating to a "buy (b-)" rating in a research report on Wednesday, August 5th. Wells Fargo & Company restated an "overweight" rating and set a $127.00 price target on shares of WEC Energy Group in a research note on Tuesday, April 21st. LADENBURG THALM/SH SH downgraded WEC Energy Group from a "buy" rating to a "neutral" rating and set a $110.50 price objective on the stock. in a report on Tuesday, August 4th. Finally, Truist Financial reduced their price objective on WEC Energy Group from $122.00 to $114.00 and set a "hold" rating on the stock in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, WEC Energy Group presently has a consensus rating of "Moderate Buy" and an average target price of $121.91.

WEC Energy Group Stock Performance

Shares of WEC stock opened at $110.53 on Monday. The company has a current ratio of 0.53, a quick ratio of 0.39 and a debt-to-equity ratio of 1.35. The company has a market cap of $36.02 billion, a PE ratio of 21.42, a P/E/G ratio of 1.91 and a beta of 0.47. The company's fifty day simple moving average is $113.24 and its 200-day simple moving average is $113.78. WEC Energy Group, Inc. has a 52 week low of $102.95 and a 52 week high of $119.91.

WEC Energy Group (NYSE:WEC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The utilities provider reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.80 by $0.11. WEC Energy Group had a net margin of 16.69% and a return on equity of 12.90%. The firm had revenue of $2.06 billion during the quarter, compared to analysts' expectations of $2.11 billion. During the same period in the prior year, the company earned $0.76 EPS. The firm's revenue was up 2.6% on a year-over-year basis. WEC Energy Group has set its FY 2026 guidance at 5.510-5.610 EPS. As a group, equities research analysts anticipate that WEC Energy Group, Inc. will post 5.59 EPS for the current year.

WEC Energy Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be given a $0.9525 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $3.81 annualized dividend and a dividend yield of 3.4%. WEC Energy Group's dividend payout ratio is presently 73.84%.

Insider Transactions at WEC Energy Group

In other news, EVP Daniel Krueger sold 4,665 shares of the stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $110.96, for a total value of $517,628.40. Following the completion of the sale, the executive vice president owned 7,346 shares in the company, valued at approximately $815,112.16. This trade represents a 38.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ulice Payne, Jr. sold 980 shares of the firm's stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $105.58, for a total value of $103,468.40. Following the sale, the director owned 19,588 shares in the company, valued at approximately $2,068,101.04. The trade was a 4.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.46% of the stock is currently owned by company insiders.

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.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source