Bank of Nova Scotia Acquires New Position in WEC Energy Group, Inc. $WEC

Bank of Nova Scotia acquired a new stake in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 77,375 shares of the utilities provider's stock, valued at approximately $9,035,000.

Other large investors also recently bought and sold shares of the company. Godfrey Financial Associates Inc. acquired a new stake in WEC Energy Group in the fourth quarter worth about $25,000. Torren Management LLC acquired a new stake in WEC Energy Group in the fourth quarter worth approximately $26,000. Osterweis Capital Management Inc. bought a new stake in WEC Energy Group in the second quarter worth about $27,000. Physician Wealth Advisors Inc. grew its stake in shares of WEC Energy Group by 113.9% in the 1st quarter. Physician Wealth Advisors Inc. now owns 246 shares of the utilities provider's stock worth $28,000 after purchasing an additional 131 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings in shares of WEC Energy Group by 972.7% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 236 shares of the utilities provider's stock worth $28,000 after purchasing an additional 214 shares in the last quarter. Institutional investors own 77.20% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on WEC shares. LADENBURG THALM/SH SH cut WEC Energy Group from a "buy" rating to a "neutral" rating and set a $110.50 price target on the stock. in a report on Tuesday, August 4th. Mizuho set a $124.00 target price on WEC Energy Group in a research report on Wednesday, May 6th. KeyCorp reduced their target price on WEC Energy Group from $126.00 to $117.00 and set an "overweight" rating for the company in a report on Thursday, July 23rd. Truist Financial decreased their price target on WEC Energy Group from $122.00 to $114.00 and set a "hold" rating for the company in a research report on Thursday, August 13th. Finally, Weiss Ratings cut WEC Energy Group from a "buy (b)" rating to a "buy (b-)" rating in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $121.91.

WEC Energy Group Price Performance

WEC opened at $107.60 on Tuesday. The stock has a market cap of $35.06 billion, a price-to-earnings ratio of 20.85, a PEG ratio of 1.83 and a beta of 0.47. WEC Energy Group, Inc. has a 1 year low of $102.95 and a 1 year high of $119.91. 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 stock has a fifty day moving average price of $112.73 and a 200 day moving average price of $113.70.

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 (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.11. WEC Energy Group had a return on equity of 12.90% and a net margin of 16.69%.The business had revenue of $2.06 billion during the quarter, compared to analyst estimates of $2.11 billion. During the same period in the previous 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. Analysts forecast that WEC Energy Group, Inc. will post 5.59 EPS for the current fiscal year.

WEC Energy Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be issued a $0.9525 dividend. The ex-dividend date is Friday, August 14th. This represents a $3.81 dividend on an annualized basis and a yield of 3.5%. WEC Energy Group's dividend payout ratio is currently 73.84%.

Insiders Place Their Bets

In other WEC Energy Group news, Director Ulice Payne, Jr. sold 980 shares of the company's stock in a transaction that occurred 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 of the company's stock, valued at $2,068,101.04. This represents a 4.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.46% of the company's stock.

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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