Ninepoint Partners LP Takes Position in WEC Energy Group, Inc. $WEC

Key Points

• Ninepoint Partners bought 12,863 shares of WEC Energy Group in the second quarter, valued at approximately $1.5 million. Institutional investors collectively own 77.2% of the company.
• Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $121.91, despite several firms recently reducing their targets and one downgrade to “neutral.”
• WEC reported quarterly EPS of $0.91, exceeding estimates of $0.80, while revenue rose 2.6% year over year. The company also declared a quarterly dividend of $0.9525, equivalent to a 3.5% annual yield.

Ninepoint Partners LP purchased a new position in WEC Energy Group, Inc. (NYSE:WEC - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,863 shares of the utilities provider's stock, valued at approximately $1,502,000.

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on WEC shares. BMO Capital Markets cut their price target on shares of WEC Energy Group from $120.00 to $117.00 and set a "market perform" rating on the stock in a report on Wednesday, July 22nd. KeyCorp decreased their price objective on shares of WEC Energy Group from $126.00 to $117.00 and set an "overweight" rating for the company in a report on Thursday, July 23rd. LADENBURG THALM/SH SH cut shares of WEC Energy Group from a "buy" rating to a "neutral" rating and set a $110.50 price objective for the company. in a research report on Tuesday, August 4th. Mizuho set a $124.00 target price on shares of WEC Energy Group in a research note on Wednesday, May 6th. Finally, Truist Financial reduced their target price on shares of WEC Energy Group from $122.00 to $114.00 and set a "hold" rating on the stock in a research report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $121.91.

Insider Activity at WEC Energy Group

In other news, Director Ulice Payne, Jr. sold 980 shares of the company's stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $105.58, for a total value of $103,468.40. Following the completion of the sale, the director owned 19,588 shares of the company's stock, valued at approximately $2,068,101.04. This represents a 4.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.46% of the company's stock.

WEC Energy Group Price Performance

Shares of WEC stock opened at $108.40 on Friday. WEC Energy Group, Inc. has a twelve month low of $102.95 and a twelve month high of $119.91. The company has a current ratio of 0.53, a quick ratio of 0.39 and a debt-to-equity ratio of 1.35. The stock has a fifty day simple moving average of $113.00 and a two-hundred day simple moving average of $113.76. The stock has a market capitalization of $35.32 billion, a price-to-earnings ratio of 21.01, a P/E/G ratio of 1.89 and a beta of 0.47.

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 firm had revenue of $2.06 billion for the quarter, compared to analyst estimates of $2.11 billion. WEC Energy Group had a return on equity of 12.90% and a net margin of 16.69%.The business's revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.76 earnings per share. WEC Energy Group has set its FY 2026 guidance at 5.510-5.610 EPS. On average, 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 declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be issued a $0.9525 dividend. The ex-dividend date is Friday, August 14th. This represents a $3.81 annualized dividend and a dividend yield of 3.5%. WEC Energy Group's payout ratio is currently 73.84%.

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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