Fifth Third Bancorp Has $20.12 Million Stake in WEC Energy Group, Inc. $WEC

Key Points

• Fifth Third Bancorp increased its stake in WEC Energy Group by 125.3% in the first quarter, ending with 173,765 shares valued at about $20.1 million.
• WEC Energy Group reported better-than-expected quarterly results, with EPS of $2.45 versus $2.30 expected and revenue of $3.43 billion, up 9% year over year.
• The company continues to offer income appeal with a quarterly dividend of $0.9525, translating to an annualized yield of about 3.3%, while analysts currently rate the stock Moderate Buy on average.

Fifth Third Bancorp lifted its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 125.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 173,765 shares of the utilities provider's stock after acquiring an additional 96,651 shares during the quarter. Fifth Third Bancorp owned approximately 0.05% of WEC Energy Group worth $20,117,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. increased its position in WEC Energy Group by 972.7% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 236 shares of the utilities provider's stock worth $28,000 after acquiring an additional 214 shares during the period. Godfrey Financial Associates Inc. bought a new stake in WEC Energy Group in the 4th quarter valued at about $25,000. Torren Management LLC bought a new stake in WEC Energy Group in the 4th quarter valued at about $26,000. Physician Wealth Advisors Inc. grew its position in shares of WEC Energy Group by 113.9% during the 1st quarter. Physician Wealth Advisors Inc. now owns 246 shares of the utilities provider's stock worth $28,000 after purchasing an additional 131 shares in the last quarter. Finally, Osterweis Capital Management Inc. bought a new position in shares of WEC Energy Group during the second quarter worth approximately $27,000. 77.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at WEC Energy Group

In other WEC Energy Group news, EVP Daniel Krueger sold 4,665 shares of the firm's stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $110.96, for a total value of $517,628.40. Following the completion of the sale, 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.46% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on WEC. Truist Financial decreased their price target on WEC Energy Group from $124.00 to $119.00 and set a "hold" rating on the stock in a research report on Monday, May 18th. Mizuho set a $124.00 price objective on shares of WEC Energy Group in a research report on Wednesday, May 6th. Wells Fargo & Company reiterated an "overweight" rating and set a $127.00 price objective on shares of WEC Energy Group in a research note on Tuesday, April 21st. Wall Street Zen lowered shares of WEC Energy Group from a "hold" rating to a "sell" rating in a report on Sunday, May 24th. Finally, Barclays boosted their target price on shares of WEC Energy Group from $111.00 to $117.00 and gave the company an "equal weight" rating in a research report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $123.60.

WEC Energy Group Trading Up 0.7%

Shares of WEC stock opened at $115.73 on Tuesday. The company has a quick ratio of 0.54, a current ratio of 0.68 and a debt-to-equity ratio of 1.36. The firm has a market capitalization of $37.70 billion, a P/E ratio of 23.10, a P/E/G ratio of 2.76 and a beta of 0.47. WEC Energy Group, Inc. has a twelve month low of $102.95 and a twelve month high of $119.91. The stock's fifty day simple moving average is $113.59 and its 200 day simple moving average is $113.04.

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

WEC Energy Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Thursday, May 14th were paid a $0.9525 dividend. This represents a $3.81 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Thursday, May 14th. WEC Energy Group's payout ratio is 76.05%.

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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