Keebeck Wealth Management Invests $3.54 Million in WEC Energy Group, Inc. $WEC

Key Points

• Keebeck Wealth Management acquired 30,280 shares of WEC Energy Group during the second quarter, valued at approximately $3.54 million. Institutional investors and hedge funds collectively own 77.2% of the company.
• Analyst sentiment remains mixed, with a consensus rating of “Moderate Buy” and an average price target of $121.91; several firms recently lowered targets or downgraded the stock to neutral.
• WEC shares opened at $106.33, near their 52-week low, while the company reported quarterly EPS of $0.91—above estimates—and maintained a quarterly dividend of $0.9525 per share, yielding about 3.6% annually.

Keebeck Wealth Management acquired a new position in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 30,280 shares of the utilities provider's stock, valued at approximately $3,536,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Empowered Funds LLC raised its holdings in WEC Energy Group by 16.9% in the 1st quarter. Empowered Funds LLC now owns 16,698 shares of the utilities provider's stock worth $1,820,000 after acquiring an additional 2,417 shares during the period. Woodline Partners LP boosted its holdings in WEC Energy Group by 41.3% during the first quarter. Woodline Partners LP now owns 26,839 shares of the utilities provider's stock valued at $2,925,000 after acquiring an additional 7,841 shares during the period. Cerity Partners LLC grew its position in shares of WEC Energy Group by 7.3% in the second quarter. Cerity Partners LLC now owns 44,286 shares of the utilities provider's stock valued at $4,616,000 after purchasing an additional 3,006 shares during the last quarter. Qube Research & Technologies Ltd grew its position in shares of WEC Energy Group by 477.4% in the second quarter. Qube Research & Technologies Ltd now owns 333,552 shares of the utilities provider's stock valued at $34,756,000 after purchasing an additional 275,786 shares during the last quarter. Finally, NewEdge Advisors LLC increased its stake in shares of WEC Energy Group by 8.8% in the second quarter. NewEdge Advisors LLC now owns 58,364 shares of the utilities provider's stock worth $6,082,000 after purchasing an additional 4,730 shares during the period. 77.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Truist Financial cut their price objective on WEC Energy Group from $122.00 to $114.00 and set a "hold" rating for the company in a research report on Thursday, August 13th. LADENBURG THALM/SH SH lowered WEC Energy Group from a "buy" rating to a "neutral" rating and set a $110.50 target price on the stock. in a report on Tuesday, August 4th. JPMorgan Chase & Co. lifted their price target on WEC Energy Group from $120.00 to $124.00 and gave the stock a "neutral" rating in a research report on Thursday, July 16th. Wall Street Zen lowered WEC Energy Group from a "hold" rating to a "sell" rating in a report on Sunday, May 24th. Finally, BMO Capital Markets reduced their price objective on WEC Energy Group from $120.00 to $117.00 and set a "market perform" rating for the company in a research report on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $121.91.

WEC Energy Group Stock Down 2.0%

Shares of WEC opened at $106.33 on Friday. The company has a 50-day simple moving average of $112.86 and a 200-day simple moving average of $113.71. The firm has a market capitalization of $34.65 billion, a P/E ratio of 20.61, a P/E/G ratio of 1.88 and a beta of 0.47. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.39 and a current ratio of 0.53. WEC Energy Group, Inc. has a 52 week low of $102.95 and a 52 week high of $119.91.

WEC Energy Group (NYSE:WEC - Get Free Report) last released its earnings results on Wednesday, July 29th. The utilities provider reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.80 by $0.11. WEC Energy Group had a return on equity of 12.90% and a net margin of 16.69%.The business had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $2.11 billion. During the same period last year, the business earned $0.76 earnings per share. The firm's revenue for the quarter was up 2.6% compared to the same quarter last year. WEC Energy Group has set its FY 2026 guidance at 5.510-5.610 EPS. On average, equities research analysts expect that WEC Energy Group, Inc. will post 5.59 earnings per share for the current year.

WEC Energy Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be issued a dividend of $0.9525 per share. This represents a $3.81 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Friday, August 14th. WEC Energy Group's dividend payout ratio (DPR) is presently 73.84%.

Insider Activity

In related news, Director Ulice Payne, Jr. sold 980 shares of the company's stock in a transaction on 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 transaction, the director directly owned 19,588 shares in the company, valued at approximately $2,068,101.04. This represents a 4.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.46% of the company's stock.

About WEC Energy Group

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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