Allworth Financial LP acquired a new position in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 46,051 shares of the utilities provider's stock, valued at approximately $5,377,000.
Several other institutional investors have also made changes to their positions in WEC. Pure Financial Advisors LLC raised its holdings in shares of WEC Energy Group by 3.9% in the 4th quarter. Pure Financial Advisors LLC now owns 2,319 shares of the utilities provider's stock worth $245,000 after buying an additional 86 shares in the last quarter. Inscription Capital LLC lifted its holdings in shares of WEC Energy Group by 4.7% during the fourth quarter. Inscription Capital LLC now owns 2,036 shares of the utilities provider's stock valued at $215,000 after acquiring an additional 91 shares during the period. Moors & Cabot Inc. lifted its holdings in shares of WEC Energy Group by 1.7% during the third quarter. Moors & Cabot Inc. now owns 5,511 shares of the utilities provider's stock valued at $632,000 after acquiring an additional 93 shares during the period. State of Wyoming boosted its stake in shares of WEC Energy Group by 5.7% in the 2nd quarter. State of Wyoming now owns 1,762 shares of the utilities provider's stock valued at $184,000 after purchasing an additional 95 shares in the last quarter. Finally, Community Bank & Trust Waco Texas boosted its stake in shares of WEC Energy Group by 5.1% in the 4th quarter. Community Bank & Trust Waco Texas now owns 1,964 shares of the utilities provider's stock valued at $207,000 after purchasing an additional 96 shares in the last quarter. 77.20% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on WEC. Wall Street Zen cut shares of WEC Energy Group from a "hold" rating to a "sell" rating in a research report on Sunday, May 24th. LADENBURG THALM/SH SH cut shares of WEC Energy Group from a "buy" rating to a "neutral" rating and set a $110.50 price objective on the stock. in a research note on Tuesday, August 4th. Weiss Ratings lowered shares of WEC Energy Group from a "buy (b)" rating to a "buy (b-)" rating in a report on Wednesday, August 5th. BMO Capital Markets cut their target price on shares of WEC Energy Group from $120.00 to $117.00 and set a "market perform" rating for the company in a research note on Wednesday, July 22nd. Finally, Truist Financial reduced their target price on WEC Energy Group from $122.00 to $114.00 and set a "hold" rating on the stock in a report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $121.91.
View Our Latest Stock Analysis on WEC Energy Group
Insider Activity at WEC Energy Group
In other news, Director Ulice Payne, Jr. sold 980 shares of the business's stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $105.58, for a total transaction of $103,468.40. Following the completion of the sale, the director owned 19,588 shares in the company, valued at $2,068,101.04. The trade was a 4.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.46% of the company's stock.
WEC Energy Group Stock Down 0.9%
Shares of NYSE:WEC opened at $108.40 on Friday. The company has a quick ratio of 0.39, a current ratio of 0.53 and a debt-to-equity ratio of 1.35. The firm has a market cap of $35.32 billion, a P/E ratio of 21.01, a P/E/G ratio of 1.89 and a beta of 0.47. WEC Energy Group, Inc. has a 12 month low of $102.95 and a 12 month high of $119.91. The company's 50-day moving average price is $113.00 and its two-hundred day moving average price is $113.76.
WEC Energy Group (NYSE:WEC - Get Free Report) last announced its earnings results on Wednesday, July 29th. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.80 by $0.11. The company had revenue of $2.06 billion for the quarter, compared to analyst estimates of $2.11 billion. WEC Energy Group had a net margin of 16.69% and a return on equity of 12.90%. WEC Energy Group's quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.76 earnings per share. WEC Energy Group has set its FY 2026 guidance at 5.510-5.610 EPS. As a group, research analysts forecast that WEC Energy Group, Inc. will post 5.59 EPS for the current fiscal year.
WEC Energy Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be given a $0.9525 dividend. This represents a $3.81 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Friday, August 14th. WEC Energy Group's dividend payout ratio (DPR) is presently 73.84%.
WEC Energy Group Profile
(
Free Report)
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.
Further Reading
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