DAVENPORT & Co LLC Raises Stock Position in WEC Energy Group, Inc. $WEC

Key Points

• Davenport & Co. increased its WEC Energy Group position by 15.3% in the second quarter, bringing its holdings to 96,430 shares valued at approximately $11.26 million. Institutional investors collectively own 77.2% of the company.
• WEC reported quarterly earnings of $0.91 per share, beating estimates of $0.80, while revenue rose 2.6% year over year to $2.06 billion. The company maintained 2026 EPS guidance of $5.51–$5.61.
• WEC declared a quarterly dividend of $0.9525 per share, equivalent to an annualized $3.81 and a 3.5% yield. Analysts have a “Moderate Buy” consensus rating with an average price target of $122.41, versus the stock’s reported price of $108.96.

DAVENPORT & Co LLC raised its position in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 15.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 96,430 shares of the utilities provider's stock after purchasing an additional 12,773 shares during the quarter. DAVENPORT & Co LLC's holdings in WEC Energy Group were worth $11,260,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of WEC Energy Group by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 41,099,951 shares of the utilities provider's stock worth $4,334,401,000 after buying an additional 819,627 shares during the last quarter. Geode Capital Management LLC lifted its holdings in WEC Energy Group by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 8,838,003 shares of the utilities provider's stock valued at $928,653,000 after acquiring an additional 88,557 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in WEC Energy Group by 1.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,336,861 shares of the utilities provider's stock worth $562,826,000 after acquiring an additional 52,467 shares during the period. Northern Trust Corp increased its stake in WEC Energy Group by 1.4% during the fourth quarter. Northern Trust Corp now owns 3,641,145 shares of the utilities provider's stock worth $383,995,000 after acquiring an additional 48,903 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in WEC Energy Group by 175.0% during the fourth quarter. Franklin Resources Inc. now owns 3,357,608 shares of the utilities provider's stock worth $354,093,000 after acquiring an additional 2,136,542 shares during the last quarter. Hedge funds and other institutional investors own 77.20% of the company's stock.

WEC Energy Group Stock Up 2.1%

NYSE:WEC opened at $108.96 on Thursday. 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 stock's fifty day moving average is $113.31 and its two-hundred day moving average is $113.76. WEC Energy Group, Inc. has a 52 week low of $102.95 and a 52 week high of $119.91. The stock has a market capitalization of $35.50 billion, a price-to-earnings ratio of 21.12, a price-to-earnings-growth ratio of 1.85 and a beta of 0.47.

WEC Energy Group (NYSE:WEC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The utilities provider reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.80 by $0.11. The business 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 period in the previous year, the firm posted $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 EPS for the current year.

WEC Energy Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be issued a dividend of $0.9525 per share. This represents a $3.81 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Friday, August 14th. WEC Energy Group's dividend payout ratio (DPR) is 73.84%.

Insider Activity

In other news, EVP Daniel Krueger sold 4,665 shares of the firm's stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $110.96, for a total value of $517,628.40. Following the completion of the transaction, the executive vice president owned 7,346 shares of the company's stock, valued at approximately $815,112.16. This trade represents a 38.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ulice Payne, Jr. sold 980 shares of the firm'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 of the company's stock, valued at approximately $2,068,101.04. The trade was a 4.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.46% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on WEC. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $127.00 price target on shares of WEC Energy Group in a research note on Tuesday, April 21st. Weiss Ratings lowered shares of WEC Energy Group from a "buy (b)" rating to a "buy (b-)" rating in a report on Wednesday, August 5th. JPMorgan Chase & Co. upped their target price on shares of WEC Energy Group from $120.00 to $124.00 and gave the company a "neutral" rating in a research report on Thursday, July 16th. Wall Street Zen lowered shares of WEC Energy Group from a "hold" rating to a "sell" rating in a research note on Sunday, May 24th. Finally, KeyCorp dropped their price target 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. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat.com, WEC Energy Group presently has an average rating of "Moderate Buy" and a consensus price target of $122.41.

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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