Bantamac Capital LLC acquired a new stake in WEC Energy Group, Inc. (NYSE:WEC - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 43,000 shares of the utilities provider's stock, valued at approximately $5,021,000. WEC Energy Group accounts for 2.6% of Bantamac Capital LLC's investment portfolio, making the stock its 4th biggest holding.
Several other institutional investors and hedge funds also recently made changes to their positions in WEC. Franklin Resources Inc. lifted its position in shares of WEC Energy Group by 175.0% during the 4th quarter. Franklin Resources Inc. now owns 3,357,608 shares of the utilities provider's stock valued at $354,093,000 after acquiring an additional 2,136,542 shares during the period. Energy Income Partners LLC bought a new position in WEC Energy Group during the second quarter worth $97,564,000. Vanguard Group Inc. grew its holdings in 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 purchasing an additional 819,627 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in WEC Energy Group in the second quarter worth approximately $95,395,000. Finally, Janus Henderson Group PLC grew its stake in WEC Energy Group by 3,337.5% in the first quarter. Janus Henderson Group PLC now owns 700,527 shares of the utilities provider's stock valued at $81,097,000 after acquiring an additional 680,148 shares during the period. Institutional investors own 77.20% of the company's stock.
Analyst Ratings Changes
WEC has been the subject of several recent research reports. JPMorgan Chase & Co. boosted 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. KeyCorp reduced their price objective on shares of WEC Energy Group from $126.00 to $117.00 and set an "overweight" rating for the company in a research report on Thursday, July 23rd. Weiss Ratings downgraded WEC Energy Group from a "buy (b)" rating to a "buy (b-)" rating in a research note on Wednesday, August 5th. Wall Street Zen cut shares of WEC Energy Group from a "hold" rating to a "sell" rating in a research note on Sunday, May 24th. Finally, Mizuho set a $124.00 target price on WEC Energy Group in a research note on Wednesday, May 6th. One 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 stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $121.91.
View Our Latest Analysis on WEC Energy Group
WEC Energy Group Price Performance
NYSE:WEC opened at $109.38 on Thursday. WEC Energy Group, Inc. has a 52-week low of $102.95 and a 52-week high of $119.91. The stock has a fifty day moving average of $113.09 and a 200 day moving average of $113.78. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.39 and a current ratio of 0.53. The firm has a market capitalization of $35.64 billion, a price-to-earnings ratio of 21.20, a P/E/G ratio of 1.92 and a beta of 0.47.
WEC Energy Group (NYSE:WEC - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The utilities provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.11. The firm had revenue of $2.06 billion for the quarter, compared to analysts' expectations of $2.11 billion. WEC Energy Group had a return on equity of 12.90% and a net margin of 16.69%.The company's revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.76 EPS. WEC Energy Group has set its FY 2026 guidance at 5.510-5.610 EPS. On average, research analysts expect 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. Stockholders of record on Friday, August 14th will be paid a $0.9525 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $3.81 dividend on an annualized basis and a dividend yield of 3.5%. WEC Energy Group's dividend payout ratio is 73.84%.
Insiders Place Their Bets
In other news, Director Ulice Payne, Jr. sold 980 shares of the firm's stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $105.58, for a total transaction of $103,468.40. Following the transaction, the director directly owned 19,588 shares of the company's stock, valued at approximately $2,068,101.04. This trade represents a 4.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.46% of the stock is owned by corporate insiders.
WEC Energy Group Profile
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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.
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