Geode Capital Management LLC Boosts Stock Position in WEC Energy Group, Inc. $WEC

Key Points

• Geode Capital Management increased its WEC Energy Group stake by 1.0% in the fourth quarter, adding 88,557 shares and bringing its total holding to 8.84 million shares worth about $928.7 million.
• WEC Energy Group reported solid quarterly results, with EPS of $2.45 beating estimates and revenue of $3.43 billion topping expectations; the company also reiterated FY 2026 EPS guidance of $5.51 to $5.61.
• The company continues to reward shareholders with a quarterly dividend of $0.9525 per share, implying an annualized yield of 3.4%, while analysts currently have a consensus rating of Hold and an average price target of $122.13.

Geode Capital Management LLC increased its stake in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 1.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,838,003 shares of the utilities provider's stock after buying an additional 88,557 shares during the period. Geode Capital Management LLC owned 2.72% of WEC Energy Group worth $928,653,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of WEC. Vanguard Group Inc. boosted its stake in WEC Energy Group by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 41,099,951 shares of the utilities provider's stock worth $4,334,401,000 after purchasing an additional 819,627 shares in the last quarter. Freestone Grove Partners LP raised its position in WEC Energy Group by 30,697.3% in the third quarter. Freestone Grove Partners LP now owns 620,565 shares of the utilities provider's stock worth $71,111,000 after acquiring an additional 618,550 shares during the period. Balyasny Asset Management L.P. raised its position in WEC Energy Group by 324.1% in the second quarter. Balyasny Asset Management L.P. now owns 774,679 shares of the utilities provider's stock worth $80,722,000 after acquiring an additional 592,028 shares during the period. Envestnet Asset Management Inc. raised its position in WEC Energy Group by 12.4% in the third quarter. Envestnet Asset Management Inc. now owns 3,046,591 shares of the utilities provider's stock worth $349,109,000 after acquiring an additional 337,300 shares during the period. Finally, Pictet Asset Management Holding SA grew its holdings in WEC Energy Group by 195.1% during the fourth quarter. Pictet Asset Management Holding SA now owns 482,309 shares of the utilities provider's stock valued at $50,864,000 after purchasing an additional 318,846 shares during the period. Institutional investors own 77.20% of the company's stock.

Insider Buying and Selling at WEC Energy Group

In related news, EVP Daniel Krueger sold 4,665 shares of the stock in a transaction dated 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.46% of the company's stock.

Analysts Set New Price Targets

WEC has been the subject of several recent research reports. Mizuho set a $124.00 price target on WEC Energy Group in a report on Wednesday, May 6th. BMO Capital Markets reissued a "market perform" rating and set a $121.00 price target on shares of WEC Energy Group in a report on Friday, February 6th. Wells Fargo & Company reissued an "overweight" rating and set a $127.00 price target on shares of WEC Energy Group in a report on Tuesday, April 21st. JPMorgan Chase & Co. decreased their price target on WEC Energy Group from $125.00 to $120.00 and set a "neutral" rating on the stock in a report on Thursday, May 14th. Finally, Truist Financial reduced their price objective on shares of 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. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $122.13.

WEC Energy Group Trading Down 0.5%

Shares of WEC stock opened at $111.07 on Friday. WEC Energy Group, Inc. has a 12-month low of $102.49 and a 12-month high of $119.62. The company has a current ratio of 0.68, a quick ratio of 0.54 and a debt-to-equity ratio of 1.36. The stock's 50-day moving average price is $114.22 and its 200-day moving average price is $111.66. The stock has a market capitalization of $36.18 billion, a price-to-earnings ratio of 22.17, a price-to-earnings-growth ratio of 2.68 and a beta of 0.50.

WEC Energy Group (NYSE:WEC - Get Free Report) last issued its earnings results on Tuesday, May 5th. The utilities provider reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.15. WEC Energy Group had a return on equity of 12.72% and a net margin of 16.25%.The firm had revenue of $3.43 billion for the quarter, compared to analysts' expectations of $3.32 billion. During the same period in the previous year, the firm posted $2.27 earnings per share. The business's revenue was up 9.0% compared to the same quarter last year. WEC Energy Group has set its FY 2026 guidance at 5.510-5.610 EPS. Equities research analysts predict that WEC Energy Group, Inc. will post 5.59 EPS for the current fiscal year.

WEC Energy Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Thursday, May 14th will be issued a $0.9525 dividend. The ex-dividend date of this dividend is Thursday, May 14th. This represents a $3.81 dividend on an annualized basis and a dividend yield of 3.4%. WEC Energy Group's dividend payout ratio (DPR) is 76.05%.

WEC Energy Group 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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