California State Teachers Retirement System Purchases 43,915,218 Shares of WEC Energy Group, Inc. $WEC

California State Teachers Retirement System raised its position in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 11,738.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 44,289,343 shares of the utilities provider's stock after buying an additional 43,915,218 shares during the quarter. California State Teachers Retirement System owned about 13.59% of WEC Energy Group worth $5,171,667,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Empowered Funds LLC increased its stake in shares of WEC Energy Group by 16.9% in the 1st quarter. Empowered Funds LLC now owns 16,698 shares of the utilities provider's stock worth $1,820,000 after acquiring an additional 2,417 shares in the last quarter. Woodline Partners LP boosted its stake in WEC Energy Group by 41.3% during the first quarter. Woodline Partners LP now owns 26,839 shares of the utilities provider's stock worth $2,925,000 after acquiring an additional 7,841 shares in the last quarter. Cerity Partners LLC boosted its stake in WEC Energy Group by 7.3% during the second quarter. Cerity Partners LLC now owns 44,286 shares of the utilities provider's stock worth $4,616,000 after acquiring an additional 3,006 shares in the last quarter. Qube Research & Technologies Ltd grew its holdings in WEC Energy Group by 477.4% in the second quarter. Qube Research & Technologies Ltd now owns 333,552 shares of the utilities provider's stock worth $34,756,000 after purchasing an additional 275,786 shares during the period. Finally, NewEdge Advisors LLC grew its holdings in WEC Energy Group by 8.8% in the second quarter. NewEdge Advisors LLC now owns 58,364 shares of the utilities provider's stock worth $6,082,000 after purchasing an additional 4,730 shares during the period. Institutional investors own 77.20% of the company's stock.

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 dated Tuesday, August 11th. The shares were sold at an average price of $105.58, for a total transaction of $103,468.40. Following the transaction, the director owned 19,588 shares in the company, valued at approximately $2,068,101.04. This represents a 4.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.46% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on WEC. Truist Financial decreased their target price on shares of WEC Energy Group from $122.00 to $114.00 and set a "hold" rating for the company in a research note on Thursday, August 13th. BMO Capital Markets cut their price target on WEC Energy Group from $120.00 to $117.00 and set a "market perform" rating on the stock in a research note on Wednesday, July 22nd. LADENBURG THALM/SH SH lowered WEC Energy Group from a "buy" rating to a "neutral" rating and set a $110.50 price objective for the company. in a research report on Tuesday, August 4th. Weiss Ratings upgraded WEC Energy Group from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday. Finally, KeyCorp lowered their price objective on WEC Energy Group from $126.00 to $117.00 and set an "overweight" rating for the company in a research note on Thursday, July 23rd. 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 company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $121.91.

WEC Energy Group Stock Performance

Shares of WEC opened at $106.20 on Thursday. The company has a market cap of $34.61 billion, a price-to-earnings ratio of 20.58, a P/E/G ratio of 2.21 and a beta of 0.47. The business's fifty day simple moving average is $110.62 and its two-hundred day simple moving average is $113.10. WEC Energy Group, Inc. has a 12 month low of $102.95 and a 12 month 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.

WEC Energy Group (NYSE:WEC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The utilities provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.11. The firm had revenue of $2.06 billion during 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% on a year-over-year basis. 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. Research analysts anticipate that WEC Energy Group, Inc. will post 5.59 earnings per share for the current fiscal year.

WEC Energy Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th were given a $0.9525 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $3.81 dividend on an annualized basis and a yield of 3.6%. WEC Energy Group's payout ratio is 73.84%.

About WEC Energy Group

WEC Energy Group is a diversified energy holding company headquartered in Milwaukee, Wisconsin. Through its utility subsidiaries, the company generates and distributes electricity and delivers natural gas to residential, commercial, and industrial customers.

WEC Energy Group serves customers primarily in Wisconsin, Illinois, Michigan, and Minnesota. Its operating companies include We Energies, Wisconsin Public Service, Upper Michigan Energy Resources, Minnesota Energy Resources, Michigan Gas Utilities, North Shore Gas, and Peoples Gas.

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