CIBC Asset Management Inc Has $20.47 Million Stake in WEC Energy Group, Inc. $WEC

Key Points

• CIBC Asset Management increased its stake in WEC Energy Group by 18.3% in the fourth quarter, ending with 194,119 shares valued at about $20.47 million.
• WEC Energy Group reported better-than-expected earnings for the latest quarter, with EPS of $2.45 versus the $2.30 estimate and revenue of $3.43 billion, up 9% year over year.
• The company continues to offer a solid 3.4% dividend yield, though analysts overall are cautious: the consensus rating is Hold with a target price of $122.13.

CIBC Asset Management Inc lifted its stake in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 18.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 194,119 shares of the utilities provider's stock after purchasing an additional 30,014 shares during the period. CIBC Asset Management Inc owned 0.06% of WEC Energy Group worth $20,472,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Barclays lifted their price target on shares of WEC Energy Group from $111.00 to $117.00 and gave the stock an "equal weight" rating in a research report on Monday, April 20th. JPMorgan Chase & Co. reduced their price objective on shares of WEC Energy Group from $125.00 to $120.00 and set a "neutral" rating on the stock in a research note on Thursday, May 14th. Truist Financial lowered their target price on shares of WEC Energy Group from $124.00 to $119.00 and set a "hold" rating for the company in a report on Monday, May 18th. Wall Street Zen cut shares of WEC Energy Group from a "hold" rating to a "sell" rating in a research report on Sunday, May 24th. Finally, Wells Fargo & Company reissued an "overweight" rating and issued a $127.00 price target on shares of WEC Energy Group in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $122.13.

WEC Energy Group Stock Up 1.0%

WEC Energy Group stock opened at $111.16 on Friday. The firm has a market capitalization of $36.21 billion, a price-to-earnings ratio of 22.19, a PEG ratio of 2.65 and a beta of 0.47. The company's 50 day simple moving average is $113.96 and its 200 day simple moving average is $111.61. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.68 and a quick ratio of 0.54. WEC Energy Group, Inc. has a fifty-two week low of $102.49 and a fifty-two week high of $119.62.

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

WEC Energy Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Thursday, May 14th were paid a dividend of $0.9525 per share. This represents a $3.81 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Thursday, May 14th. WEC Energy Group's dividend payout ratio (DPR) is presently 76.05%.

Insider Buying and Selling

In other WEC Energy Group news, EVP Daniel Krueger sold 4,665 shares of WEC Energy Group stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $110.96, for a total transaction of $517,628.40. Following the transaction, the executive vice president directly owned 7,346 shares in the company, valued at approximately $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 SEC, which is accessible through this link. Insiders own 0.46% of the company's stock.

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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