Assenagon Asset Management S.A. Purchases 114,992 Shares of WEC Energy Group, Inc. $WEC

Key Points

• Assenagon Asset Management increased its WEC Energy Group position by 1,902.9%, purchasing 114,992 additional shares to hold 121,035 shares valued at approximately $14.1 million. Institutional investors collectively own 77.2% of the company.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $122.41, despite several recent target revisions and one downgrade to neutral.
• WEC reported quarterly EPS of $0.91, exceeding the $0.80 consensus estimate, while revenue rose 2.6% year over year. The company also declared a quarterly dividend of $0.9525 per share, representing a 3.6% annualized yield.

Assenagon Asset Management S.A. raised its position in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 1,902.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 121,035 shares of the utilities provider's stock after purchasing an additional 114,992 shares during the period. Assenagon Asset Management S.A.'s holdings in WEC Energy Group were worth $14,133,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pure Financial Advisors LLC boosted its stake in WEC Energy Group by 3.9% in the fourth quarter. Pure Financial Advisors LLC now owns 2,319 shares of the utilities provider's stock valued at $245,000 after buying an additional 86 shares in the last quarter. Inscription Capital LLC grew its position in WEC Energy Group by 4.7% in 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 last quarter. Moors & Cabot Inc. raised its stake in WEC Energy Group by 1.7% during the third quarter. Moors & Cabot Inc. now owns 5,511 shares of the utilities provider's stock worth $632,000 after acquiring an additional 93 shares in the last quarter. State of Wyoming raised its stake in WEC Energy Group by 5.7% during the second quarter. State of Wyoming now owns 1,762 shares of the utilities provider's stock worth $184,000 after acquiring an additional 95 shares in the last quarter. Finally, Community Bank & Trust Waco Texas lifted its holdings in shares of WEC Energy Group by 5.1% in the fourth quarter. Community Bank & Trust Waco Texas now owns 1,964 shares of the utilities provider's stock worth $207,000 after acquiring an additional 96 shares during the last quarter. 77.20% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

WEC has been the topic of several research reports. Truist Financial lifted their price target on shares of WEC Energy Group from $119.00 to $122.00 and gave the company a "hold" rating in a report on Thursday, July 16th. KeyCorp decreased their target price on shares of WEC Energy Group from $126.00 to $117.00 and set an "overweight" rating on the stock in a research note on Thursday, July 23rd. LADENBURG THALM/SH SH downgraded shares of WEC Energy Group from a "buy" rating to a "neutral" rating and set a $110.50 price target for the company. in a report on Tuesday, August 4th. Barclays increased their price target 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. Finally, JPMorgan Chase & Co. raised their price objective on WEC Energy Group from $120.00 to $124.00 and gave the company a "neutral" rating in a report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $122.41.

Insider Activity at WEC Energy Group

In related news, EVP Daniel Krueger sold 4,665 shares of WEC Energy Group stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $110.96, for a total value of $517,628.40. Following the transaction, the executive vice president directly owned 7,346 shares of the company's stock, valued at $815,112.16. The trade was a 38.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.46% of the stock is currently owned by corporate insiders.

WEC Energy Group Trading Down 1.6%

WEC opened at $105.96 on Tuesday. The company's 50 day moving average price is $113.40 and its two-hundred day moving average price is $113.79. The firm has a market capitalization of $34.53 billion, a price-to-earnings ratio of 20.53, a PEG ratio of 1.86 and a beta of 0.47. WEC Energy Group, Inc. has a fifty-two week low of $102.95 and a fifty-two week high of $119.91. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.53 and a quick ratio of 0.39.

WEC Energy Group (NYSE:WEC - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The utilities provider reported $0.91 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 revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous 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 predict that WEC Energy Group, Inc. will post 5.59 earnings per share for the current year.

WEC Energy Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be given a dividend of $0.9525 per share. This represents a $3.81 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Friday, August 14th. WEC Energy Group's dividend payout ratio (DPR) is 73.84%.

WEC Energy Group Company 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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