Envestnet Asset Management Inc. Acquires 111,057 Shares of WEC Energy Group, Inc. $WEC

Key Points

• Envestnet Asset Management increased its WEC Energy Group stake by 3.1%, acquiring 111,057 shares and bringing its holdings to 3.73 million shares valued at approximately $436.1 million. Institutional investors collectively own 77.2% of the company.
• WEC Energy Group’s shares traded near $101.20, close to their 12-month low of $101.00. The company exceeded quarterly EPS expectations, reporting $0.91 versus the $0.80 consensus, while revenue rose 2.6% year over year.
• The company maintains a quarterly dividend of $0.9525 per share, equivalent to a 3.8% annualized yield. Analysts’ average rating is “Moderate Buy,” with an average price target of $121.91, although several firms recently reduced their targets or downgraded the stock.

Envestnet Asset Management Inc. increased its stake in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 3.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,734,979 shares of the utilities provider's stock after acquiring an additional 111,057 shares during the period. Envestnet Asset Management Inc. owned approximately 1.15% of WEC Energy Group worth $436,133,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in WEC. Integrated Wealth Concepts LLC boosted its holdings in shares of WEC Energy Group by 2.6% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 20,461 shares of the utilities provider's stock worth $2,389,000 after purchasing an additional 525 shares during the period. Nykredit A S bought a new position in WEC Energy Group during the second quarter valued at $6,382,000. Corient Private Wealth LP raised its stake in shares of WEC Energy Group by 68.0% in the second quarter. Corient Private Wealth LP now owns 189,670 shares of the utilities provider's stock valued at $22,148,000 after acquiring an additional 76,784 shares during the period. Amundi raised its stake in shares of WEC Energy Group by 3.7% in the second quarter. Amundi now owns 448,027 shares of the utilities provider's stock valued at $52,316,000 after acquiring an additional 16,185 shares during the period. Finally, Readystate Asset Management LP bought a new stake in shares of WEC Energy Group in the 2nd quarter worth about $264,000. 77.20% of the stock is owned by institutional investors.

WEC Energy Group Trading Down 1.6%

WEC stock opened at $101.20 on Thursday. WEC Energy Group, Inc. has a 12 month low of $101.00 and a 12 month high of $119.91. The firm's 50-day moving average is $108.15 and its 200 day moving average is $112.24. The company has a market capitalization of $32.98 billion, a PE ratio of 19.61, a P/E/G ratio of 2.12 and a beta of 0.47. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.53 and a quick ratio of 0.39.

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 the consensus estimate of $0.80 by $0.11. The company had revenue of $2.06 billion for 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%.WEC Energy Group's revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.76 earnings per share. WEC Energy Group has set its FY 2026 guidance at 5.510-5.610 EPS. On average, research analysts anticipate that WEC Energy Group, Inc. will post 5.59 EPS for the current year.

WEC Energy Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th were paid a dividend of $0.9525 per share. The ex-dividend date was Friday, August 14th. This represents a $3.81 annualized dividend and a dividend yield of 3.8%. WEC Energy Group's dividend payout ratio (DPR) is currently 73.84%.

Wall Street Analysts Forecast Growth

WEC has been the subject of a number of recent analyst reports. Truist Financial dropped their price target 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. LADENBURG THALM/SH SH downgraded shares of WEC Energy Group from a "buy" rating to a "neutral" rating and set a $110.50 price objective for the company. in a research note on Tuesday, August 4th. KeyCorp dropped their target price on 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. BMO Capital Markets cut their target price 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. Finally, Weiss Ratings upgraded WEC Energy Group from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, September 8th. 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $121.91.

Insider Buying and Selling at WEC Energy Group

In related news, Director Ulice Payne, Jr. sold 980 shares of WEC Energy Group stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $105.58, for a total value of $103,468.40. Following the completion of the sale, 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.46% of the stock is owned by insiders.

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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