Mattern Capital Management LLC Purchases 24,812 Shares of WEC Energy Group, Inc. $WEC

Key Points

• Mattern Capital Management increased its stake in WEC Energy Group by 29.1% in the first quarter, buying 24,812 shares and bringing its total holding to 109,948 shares worth about $12.7 million.
• WEC Energy Group reported strong first-quarter results, beating EPS and revenue estimates with earnings of $2.45 per share and revenue of $3.43 billion, while also raising its FY 2026 EPS guidance to $5.51-$5.61.
• The utility pays a 3.3% dividend yield after issuing a quarterly dividend of $0.9525 per share, and Wall Street currently rates the stock a Moderate Buy with an average price target of $123.60.

Mattern Capital Management LLC boosted its position in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 29.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 109,948 shares of the utilities provider's stock after acquiring an additional 24,812 shares during the period. WEC Energy Group makes up approximately 1.5% of Mattern Capital Management LLC's holdings, making the stock its 7th largest holding. Mattern Capital Management LLC's holdings in WEC Energy Group were worth $12,729,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in WEC. Vanguard Group Inc. grew its holdings in shares of WEC Energy Group by 2.0% during 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. Geode Capital Management LLC raised its stake in shares of WEC Energy Group by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 8,838,003 shares of the utilities provider's stock valued at $928,653,000 after purchasing an additional 88,557 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of WEC Energy Group by 1.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,336,861 shares of the utilities provider's stock valued at $562,826,000 after purchasing an additional 52,467 shares in the last quarter. Northern Trust Corp lifted its position in WEC Energy Group by 1.4% in the fourth quarter. Northern Trust Corp now owns 3,641,145 shares of the utilities provider's stock worth $383,995,000 after purchasing an additional 48,903 shares during the period. Finally, Franklin Resources Inc. boosted its stake in WEC Energy Group by 175.0% during the fourth quarter. Franklin Resources Inc. now owns 3,357,608 shares of the utilities provider's stock worth $354,093,000 after buying an additional 2,136,542 shares in the last quarter. Institutional investors and hedge funds own 77.20% of the company's stock.

WEC Energy Group Stock Up 0.7%

Shares of NYSE WEC opened at $115.73 on Tuesday. WEC Energy Group, Inc. has a 52-week low of $102.95 and a 52-week high of $119.91. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.54 and a current ratio of 0.68. The business has a fifty day moving average of $113.59 and a two-hundred day moving average of $113.04. The stock has a market cap of $37.70 billion, a PE ratio of 23.10, a PEG ratio of 2.76 and a beta of 0.47.

WEC Energy Group (NYSE:WEC - Get Free Report) last posted its earnings results on Tuesday, May 5th. The utilities provider reported $2.45 earnings per share for the quarter, topping 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 business had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.32 billion. During the same quarter in the prior year, the firm earned $2.27 EPS. The firm's quarterly 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. As a group, equities research analysts expect that WEC Energy Group, Inc. will post 5.59 earnings per share for the current fiscal year.

WEC Energy Group Announces Dividend

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

Wall Street Analyst Weigh In

WEC has been the topic of several analyst reports. Barclays boosted their price target on shares of WEC Energy Group from $111.00 to $117.00 and gave the company an "equal weight" rating in a report on Monday, April 20th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of WEC Energy Group in a report on Friday, June 26th. Wells Fargo & Company reissued an "overweight" rating and issued a $127.00 target price on shares of WEC Energy Group in a research note on Tuesday, April 21st. JPMorgan Chase & Co. lowered their target price on shares of WEC Energy Group from $125.00 to $120.00 and set a "neutral" rating on the stock in a research note on Thursday, May 14th. Finally, Truist Financial dropped their price target on shares of WEC Energy Group from $124.00 to $119.00 and set a "hold" rating for the company in a research report on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $123.60.

Insider Activity at WEC Energy Group

In related news, EVP Daniel Krueger sold 4,665 shares of the firm's stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $110.96, for a total transaction of $517,628.40. Following the completion of the sale, the executive vice president directly owned 7,346 shares of the company's stock, valued at $815,112.16. This trade represents a 38.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.46% of the stock is owned by insiders.

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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