Assetmark Inc. Acquires 25,640 Shares of WEC Energy Group, Inc. $WEC

Key Points

• Assetmark Inc. increased its stake in WEC Energy Group by 14.2% in the first quarter, adding 25,640 shares and bringing its total holdings to 205,708 shares worth about $23.8 million.
• WEC Energy Group reported better-than-expected quarterly results, with EPS of $2.45 versus $2.30 expected and revenue of $3.43 billion, while also reaffirming full-year guidance of 5.510 to 5.610 EPS for FY 2026.
• The company declared a quarterly dividend of $0.9525 per share, which implies an annualized payout of $3.81 and a dividend yield of about 3.4%. Analyst sentiment remains mixed, with a consensus rating of Moderate Buy and a target price of $124.07.

Assetmark Inc. increased its holdings in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 14.2% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 205,708 shares of the utilities provider's stock after buying an additional 25,640 shares during the quarter. Assetmark Inc. owned about 0.06% of WEC Energy Group worth $23,815,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Franklin Resources Inc. boosted its holdings in WEC Energy Group by 175.0% in the fourth quarter. Franklin Resources Inc. now owns 3,357,608 shares of the utilities provider's stock worth $354,093,000 after purchasing an additional 2,136,542 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of WEC Energy Group by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 41,099,951 shares of the utilities provider's stock worth $4,334,401,000 after acquiring an additional 819,627 shares during the period. Freestone Grove Partners LP increased its position in WEC Energy Group by 30,697.3% during the third quarter. Freestone Grove Partners LP now owns 620,565 shares of the utilities provider's stock valued at $71,111,000 after acquiring an additional 618,550 shares during the last quarter. Balyasny Asset Management L.P. lifted its holdings in WEC Energy Group by 324.1% in the second quarter. Balyasny Asset Management L.P. now owns 774,679 shares of the utilities provider's stock valued at $80,722,000 after acquiring an additional 592,028 shares during the period. Finally, T. Rowe Price Investment Management Inc. boosted its position in WEC Energy Group by 603.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 414,028 shares of the utilities provider's stock worth $43,664,000 after purchasing an additional 355,144 shares during the last quarter. Institutional investors own 77.20% of the company's stock.

Insider Buying and Selling

In other news, EVP Daniel Krueger sold 4,665 shares of the company's stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $110.96, for a total transaction of $517,628.40. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.46% of the company's stock.

WEC Energy Group Price Performance

Shares of WEC opened at $113.36 on Friday. The stock has a market cap of $36.93 billion, a PE ratio of 22.63, a PEG ratio of 2.72 and a beta of 0.47. The business has a 50-day simple moving average of $113.63 and a two-hundred day simple moving average of $113.22. 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, Inc. has a 12-month low of $102.95 and a 12-month high of $119.91.

WEC Energy Group (NYSE:WEC - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $2.45 EPS for the quarter, topping analysts' consensus estimates of $2.30 by $0.15. WEC Energy Group had a return on equity of 12.72% and a net margin of 16.25%.The company had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.32 billion. During the same period in the previous year, the firm earned $2.27 earnings per share. The firm's quarterly revenue was up 9.0% on a year-over-year basis. WEC Energy Group has set its FY 2026 guidance at 5.510-5.610 EPS. Analysts anticipate that WEC Energy Group, Inc. will post 5.59 earnings per share for the current fiscal year.

WEC Energy Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be paid a dividend of $0.9525 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $3.81 annualized dividend and a yield of 3.4%. WEC Energy Group's dividend payout ratio is currently 76.05%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on WEC. Wall Street Zen cut WEC Energy Group from a "hold" rating to a "sell" rating in a report on Sunday, May 24th. Mizuho set a $124.00 target price on shares of WEC Energy Group in a research note on Wednesday, May 6th. Truist Financial boosted their price objective on WEC Energy Group from $119.00 to $122.00 and gave the company a "hold" rating in a research report on Thursday. Barclays increased their price objective on shares of WEC Energy Group from $111.00 to $117.00 and gave the company an "equal weight" rating in a report on Monday, April 20th. Finally, Wells Fargo & Company reissued an "overweight" rating and issued a $127.00 target price on shares of WEC Energy Group in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat, WEC Energy Group has a consensus rating of "Moderate Buy" and a consensus target price of $124.07.

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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