Cidel Asset Management Inc. Acquires New Holdings in WEC Energy Group, Inc. $WEC

Key Points

• Cidel Asset Management initiated a position in WEC Energy Group, purchasing 218,384 shares valued at approximately $22 million. Institutional investors and hedge funds collectively own 77.2% of the company.
• WEC reported strong quarterly results, with earnings per share of $1.18 exceeding the $0.97 consensus estimate and revenue rising 8.9% year over year to $2.29 billion.
• The company declared a quarterly dividend of $0.9525 per share, equivalent to an annualized $3.81 and a 3.3% yield. Analysts maintain a consensus “Hold” rating with an average price target of $118.

Cidel Asset Management Inc. bought a new position in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 218,384 shares of the utilities provider's stock, valued at approximately $22,009,000. Cidel Asset Management Inc. owned 0.07% of WEC Energy Group at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Envestnet Asset Management Inc. grew its position in shares of WEC Energy Group by 3.1% in the second quarter. Envestnet Asset Management Inc. now owns 3,734,979 shares of the utilities provider's stock valued at $436,133,000 after purchasing an additional 111,057 shares during the period. PNC Financial Services Group Inc. increased its stake in WEC Energy Group by 0.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,571,015 shares of the utilities provider's stock worth $297,646,000 after buying an additional 7,206 shares in the last quarter. Legal & General Group Plc purchased a new stake in WEC Energy Group during the 2nd quarter worth approximately $299,100,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of WEC Energy Group by 5.0% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,644,319 shares of the utilities provider's stock valued at $192,007,000 after acquiring an additional 78,168 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of WEC Energy Group by 3.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,286,276 shares of the utilities provider's stock valued at $148,906,000 after acquiring an additional 42,403 shares during the last quarter. 77.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity at WEC Energy Group

In other news, Director Ulice Payne, Jr. sold 980 shares of WEC Energy Group stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $105.58, for a total transaction of $103,468.40. Following the sale, the director owned 19,588 shares of the company's stock, valued at approximately $2,068,101.04. The trade was a 4.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.46% of the company's stock.

WEC Energy Group Stock Up 1.4%

Shares of NYSE:WEC opened at $116.19 on Friday. The company has a quick ratio of 0.39, a current ratio of 0.53 and a debt-to-equity ratio of 1.34. The business has a fifty day moving average of $105.85 and a two-hundred day moving average of $111.43. The stock has a market cap of $37.86 billion, a P/E ratio of 21.09, a PEG ratio of 2.39 and a beta of 0.45. WEC Energy Group, Inc. has a 52-week low of $99.80 and a 52-week high of $119.91.

WEC Energy Group (NYSE:WEC - Get Free Report) last announced its quarterly earnings results on Thursday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.21. WEC Energy Group had a net margin of 17.54% and a return on equity of 13.49%. The firm had revenue of $2.29 billion for the quarter, compared to analysts' expectations of $2.27 billion. During the same quarter in the previous year, the company posted $0.83 EPS. The company's revenue was up 8.9% compared to the same quarter last year. On average, research analysts expect that WEC Energy Group, Inc. will post 5.61 earnings per share for the current year.

WEC Energy Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Friday, November 13th will be issued a dividend of $0.9525 per share. The ex-dividend date is Friday, November 13th. This represents a $3.81 dividend on an annualized basis and a dividend yield of 3.3%. WEC Energy Group's dividend payout ratio (DPR) is currently 69.15%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on WEC shares. Scotiabank lifted their price target on WEC Energy Group from $117.00 to $128.00 and gave the stock a "sector outperform" rating in a research note on Friday. BMO Capital Markets reissued a "market perform" rating and issued a $117.00 price objective (down from $120.00) on shares of WEC Energy Group in a research note on Friday, October 16th. JPMorgan Chase & Co. decreased their price objective on WEC Energy Group from $121.00 to $116.00 and set a "neutral" rating on the stock in a report on Tuesday, October 13th. Barclays lowered their target price on shares of WEC Energy Group from $117.00 to $108.00 and set an "equal weight" rating on the stock in a research note on Monday, October 19th. Finally, Weiss Ratings lowered shares of WEC Energy Group from a "buy (b)" rating to a "buy (b-)" rating in a report on Friday, September 25th. Eight investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $118.00.

More WEC Energy Group News

Here are the key news stories impacting WEC Energy Group this week:

• Positive Sentiment: Third-quarter earnings beat expectations. WEC reported $1.18 in adjusted EPS versus the $0.97 analyst consensus, while revenue rose 8.9% year over year to $2.29 billion. Net income increased to $389.3 million from $271.3 million, supported by strong electricity demand, favorable weather and operating efficiencies. WEC Energy Group reports third-quarter results
• Positive Sentiment: Management raised its 2026 earnings guidance, reinforcing confidence in continued demand growth and execution. The guidance increase, combined with the quarterly earnings beat, is a key catalyst for investor optimism. WEC raises 2026 earnings guidance
• Positive Sentiment: WEC outlined a $47.5 billion 2027–2031 capital plan and is targeting annual EPS growth of 7% to 9% or more. The investment program could expand the regulated asset base and support long-term earnings and dividend growth. WEC capital plan and EPS growth targets
• Positive Sentiment: Analysts raised their price targets and issued constructive ratings. Scotiabank lifted its target to $128 with a “sector outperform” rating, while Wells Fargo raised its target to $129 and maintained an “overweight” rating. The revised targets imply approximately 10%–11% potential upside from the referenced price.
• Neutral Sentiment: WEC is reportedly in discussions regarding a 400-megawatt data-center project. Securing the project could create additional electricity demand, although the talks have not resulted in a confirmed agreement. WEC data-center project discussions
• Neutral Sentiment: HSBC initiated coverage with a “hold” rating, providing a more cautious view that offsets some of the recent bullish analyst actions.

WEC Energy Group Profile

WEC Energy Group, Inc is an energy holding company headquartered in Milwaukee, Wisconsin. Through its operating companies, the company generates and delivers electricity and provides natural gas distribution, storage and related energy services to residential, commercial and industrial customers.

WEC Energy's principal utility businesses include We Energies and Wisconsin Public Service in Wisconsin, Michigan Gas Utilities, Minnesota Energy Resources, Upper Michigan Energy Resources and North Dakota utility operations.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.