Legal & General Group Plc bought a new stake in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 2,561,444 shares of the utilities provider's stock, valued at approximately $299,100,000. Legal & General Group Plc owned about 0.79% of WEC Energy Group at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. The Manufacturers Life Insurance Company bought a new position in shares of WEC Energy Group in the 2nd quarter worth about $25,486,000. Fiduciary Financial Advisors acquired a new position in shares of WEC Energy Group in the 2nd quarter valued at about $85,000. L2 Asset Management LLC bought a new stake in shares of WEC Energy Group during the 2nd quarter valued at about $245,000. McDonough Capital Management Inc bought a new stake in shares of WEC Energy Group during the 2nd quarter valued at about $442,000. Finally, Dearborn Partners LLC acquired a new stake in WEC Energy Group during the second quarter worth about $36,402,000. 77.20% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
WEC has been the subject of a number of research reports. Truist Financial decreased their target price on 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 cut WEC Energy Group from a "buy" rating to a "neutral" rating and set a $110.50 price target on the stock. in a research report on Tuesday, August 4th. KeyCorp cut their price target on WEC Energy Group from $126.00 to $117.00 and set an "overweight" rating on the stock in a report on Thursday, July 23rd. Wall Street Zen lowered WEC Energy Group from a "hold" rating to a "sell" rating in a research report on Sunday, May 24th. Finally, Mizuho set a $124.00 price objective on WEC Energy Group in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, WEC Energy Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $121.91.
Get Our Latest Research Report on WEC Energy Group
Insider Transactions at WEC Energy Group
In other WEC Energy Group news, Director Ulice Payne, Jr. sold 980 shares of the business's stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $105.58, for a total transaction of $103,468.40. Following the completion of the transaction, the director owned 19,588 shares in the company, valued at approximately $2,068,101.04. The trade was a 4.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.46% of the company's stock.
WEC Energy Group Trading Down 0.8%
WEC Energy Group stock opened at $106.69 on Wednesday. WEC Energy Group, Inc. has a 52-week low of $102.95 and a 52-week high of $119.91. 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 firm has a market capitalization of $34.76 billion, a price-to-earnings ratio of 20.68, a PEG ratio of 1.86 and a beta of 0.47. The firm has a 50-day moving average price of $112.57 and a two-hundred day moving average price of $113.66.
WEC Energy Group (NYSE:WEC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The utilities provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.80 by $0.11. The company had revenue of $2.06 billion for the quarter, compared to analyst estimates of $2.11 billion. WEC Energy Group had a net margin of 16.69% and a return on equity of 12.90%. WEC Energy Group's revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.76 earnings per share. WEC Energy Group has set its FY 2026 guidance at 5.510-5.610 EPS. Sell-side analysts expect that WEC Energy Group, Inc. will post 5.59 earnings per share for the current year.
WEC Energy Group Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be paid a dividend of $0.9525 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $3.81 annualized dividend and a yield of 3.6%. WEC Energy Group's payout ratio is presently 73.84%.
WEC Energy Group Company Profile
(
Free Report)
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.
Further Reading
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