Alley Investment Management Company LLC Has $7.96 Million Position in WEC Energy Group, Inc. $WEC

Key Points

• Alley Investment Management increased its WEC Energy Group stake by 16.2% in Q1, buying 9,583 additional shares and lifting its position to 68,788 shares worth about $7.96 million.
• Several other institutional investors also raised their holdings, and overall hedge funds and institutions now own 77.20% of WEC Energy Group’s stock.
• WEC reported better-than-expected Q1 earnings of $2.45 per share and revenue of $3.43 billion, while also paying a quarterly dividend of $0.9525 per share for a 3.3% yield.

Alley Investment Management Company LLC grew its holdings in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 16.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,788 shares of the utilities provider's stock after purchasing an additional 9,583 shares during the period. Alley Investment Management Company LLC's holdings in WEC Energy Group were worth $7,964,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of WEC. Park National Corp OH boosted its holdings in shares of WEC Energy Group by 4,008.6% during the fourth quarter. Park National Corp OH now owns 135,010 shares of the utilities provider's stock worth $14,238,000 after purchasing an additional 131,724 shares during the period. Rathbones Group PLC grew its position in WEC Energy Group by 2.3% during the third quarter. Rathbones Group PLC now owns 748,935 shares of the utilities provider's stock valued at $85,820,000 after purchasing an additional 16,800 shares in the last quarter. First Trust Advisors LP lifted its position in WEC Energy Group by 26.3% in the 3rd quarter. First Trust Advisors LP now owns 754,939 shares of the utilities provider's stock worth $86,508,000 after buying an additional 157,008 shares in the last quarter. Aventail Capital Group LP boosted its stake in shares of WEC Energy Group by 20.6% during the 3rd quarter. Aventail Capital Group LP now owns 239,884 shares of the utilities provider's stock valued at $27,488,000 after buying an additional 40,961 shares during the period. Finally, Mairs & Power Inc. boosted its stake in shares of WEC Energy Group by 20.2% during the 3rd quarter. Mairs & Power Inc. now owns 1,793,851 shares of the utilities provider's stock valued at $205,557,000 after buying an additional 301,323 shares during the period. Institutional investors and hedge funds own 77.20% of the company's stock.

Insider Buying and Selling at WEC Energy Group

In other news, EVP Daniel Krueger sold 4,665 shares of the company'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 completion of the sale, the executive vice president owned 7,346 shares in the company, valued at approximately $815,112.16. This represents a 38.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.46% of the stock is owned by corporate insiders.

WEC Energy Group Stock Performance

Shares of WEC opened at $116.83 on Wednesday. The company's fifty day moving average is $113.31 and its 200-day moving average is $112.27. WEC Energy Group, Inc. has a 12 month low of $102.49 and a 12 month high of $119.62. The firm has a market cap of $38.05 billion, a price-to-earnings ratio of 23.32, a price-to-earnings-growth ratio of 2.85 and a beta of 0.47. The company has a quick ratio of 0.54, a current ratio of 0.68 and a debt-to-equity ratio of 1.36.

WEC Energy Group (NYSE:WEC - Get Free Report) last released its quarterly earnings results 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 net margin of 16.25% and a return on equity of 12.72%. WEC Energy Group's revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.27 EPS. WEC Energy Group has set its FY 2026 guidance at 5.510-5.610 EPS. Equities analysts expect that WEC Energy Group, Inc. will post 5.59 EPS for the current fiscal year.

WEC Energy Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Thursday, May 14th were given a $0.9525 dividend. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $3.81 dividend on an annualized basis and a dividend yield of 3.3%. WEC Energy Group's payout ratio is currently 76.05%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Mizuho set a $124.00 price target on shares of WEC Energy Group in a research note on Wednesday, May 6th. Truist Financial reduced their price objective on WEC Energy Group from $124.00 to $119.00 and set a "hold" rating for the company in a research report on Monday, May 18th. Barclays boosted their target price on WEC Energy Group from $111.00 to $117.00 and gave the company an "equal weight" rating in a research note on Monday, April 20th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $127.00 target price on shares of WEC Energy Group in a research report on Tuesday, April 21st. Finally, JPMorgan Chase & Co. cut their price target on WEC Energy Group from $125.00 to $120.00 and set a "neutral" rating for the company in a research note on Thursday, May 14th. One research 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 stock. Based on data from MarketBeat.com, WEC Energy Group has an average rating of "Moderate Buy" and an average price target of $123.60.

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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