Corient Private Wealth LP bought a new position in shares of 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 bought 202,908 shares of the utilities provider's stock, valued at approximately $23,694,000. Corient Private Wealth LP owned about 0.06% of WEC Energy Group at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Legal & General Group Plc bought a new position in shares of WEC Energy Group in the second quarter valued at about $299,100,000. Franklin Resources Inc. grew its stake in WEC Energy Group by 175.0% in the 4th quarter. Franklin Resources Inc. now owns 3,357,608 shares of the utilities provider's stock valued at $354,093,000 after buying an additional 2,136,542 shares during the last quarter. Magellan Asset Management Ltd bought a new position in WEC Energy Group in the 2nd quarter valued at about $144,582,000. Caisse de depot et placement du Quebec acquired a new stake in WEC Energy Group during the second quarter worth approximately $128,290,000. Finally, Energy Income Partners LLC acquired a new stake in WEC Energy Group during the second quarter worth approximately $97,564,000. Institutional investors and hedge funds own 77.20% of the company's stock.
Insider Transactions at WEC Energy Group
In other WEC Energy Group news, Director Ulice Payne, Jr. sold 980 shares of the business's 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 completion of the transaction, the director directly owned 19,588 shares in the company, valued at $2,068,101.04. The trade was 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 at this link. 0.46% of the stock is owned by company insiders.
WEC Energy Group Stock Down 0.1%
WEC stock opened at $106.15 on Friday. WEC Energy Group, Inc. has a 52 week low of $102.95 and a 52 week high of $119.91. The business has a 50-day simple moving average of $112.23 and a 200 day simple moving average of $113.54. The company has a quick ratio of 0.39, a current ratio of 0.53 and a debt-to-equity ratio of 1.35. The company has a market cap of $34.59 billion, a PE ratio of 20.57, a price-to-earnings-growth ratio of 1.84 and a beta of 0.47.
WEC Energy Group (NYSE:WEC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.80 by $0.11. The firm had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $2.11 billion. WEC Energy Group had a net margin of 16.69% and a return on equity of 12.90%. The business's revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.76 earnings per share. WEC Energy Group has set its FY 2026 guidance at 5.510-5.610 EPS. Sell-side analysts anticipate that WEC Energy Group, Inc. will post 5.59 EPS for the current fiscal year.
WEC Energy Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be paid a $0.9525 dividend. This represents a $3.81 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Friday, August 14th. WEC Energy Group's dividend payout ratio (DPR) is 73.84%.
Analysts Set New Price Targets
A number of brokerages have recently weighed in on WEC. Truist Financial lowered their target price on WEC Energy Group from $122.00 to $114.00 and set a "hold" rating on the stock in a research note on Thursday, August 13th. BMO Capital Markets lowered their price objective on WEC Energy Group from $120.00 to $117.00 and set a "market perform" rating on the stock in a research report on Wednesday, July 22nd. LADENBURG THALM/SH SH downgraded WEC Energy Group from a "buy" rating to a "neutral" rating and set a $110.50 target price for the company. in a report on Tuesday, August 4th. Weiss Ratings downgraded shares of WEC Energy Group from a "buy (b)" rating to a "buy (b-)" rating in a research note on Wednesday, August 5th. Finally, JPMorgan Chase & Co. raised their price target on shares of WEC Energy Group from $120.00 to $124.00 and gave the stock a "neutral" rating in a research report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat, WEC Energy Group presently has an average rating of "Moderate Buy" and an average target price of $121.91.
Get Our Latest Research Report on WEC Energy Group
WEC Energy Group Company Profile
(
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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