TD Asset Management Inc Sells 36,452 Shares of WEC Energy Group, Inc. $WEC

Key Points

• TD Asset Management cut its WEC Energy Group stake by 19.6% in the fourth quarter, selling 36,452 shares and ending with 149,821 shares valued at about $15.8 million.
• WEC Energy Group continues to see mixed Wall Street sentiment: analysts have a Hold consensus with an average target price of $122.13, even though several firms recently raised targets or ratings.
• The company reported strong quarterly results, beating EPS and revenue estimates, and it paid a quarterly dividend of $0.9525 per share for an annualized yield of about 3.4%.

TD Asset Management Inc lowered its holdings in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 19.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 149,821 shares of the utilities provider's stock after selling 36,452 shares during the period. TD Asset Management Inc's holdings in WEC Energy Group were worth $15,800,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Inscription Capital LLC boosted its holdings in WEC Energy Group by 4.7% in the 4th quarter. Inscription Capital LLC now owns 2,036 shares of the utilities provider's stock valued at $215,000 after purchasing an additional 91 shares during the period. Moors & Cabot Inc. boosted its holdings in WEC Energy Group by 1.7% in the 3rd quarter. Moors & Cabot Inc. now owns 5,511 shares of the utilities provider's stock valued at $632,000 after purchasing an additional 93 shares during the period. Matrix Trust Co boosted its holdings in WEC Energy Group by 0.7% in the 4th quarter. Matrix Trust Co now owns 14,300 shares of the utilities provider's stock valued at $1,508,000 after purchasing an additional 95 shares during the period. State of Wyoming boosted its holdings in WEC Energy Group by 5.7% in the 2nd quarter. State of Wyoming now owns 1,762 shares of the utilities provider's stock valued at $184,000 after purchasing an additional 95 shares during the period. Finally, Community Bank & Trust Waco Texas boosted its holdings in WEC Energy Group by 5.1% in the 4th quarter. Community Bank & Trust Waco Texas now owns 1,964 shares of the utilities provider's stock valued at $207,000 after purchasing an additional 96 shares during the period. Institutional investors own 77.20% of the company's stock.

Analysts Set New Price Targets

A number of analysts have issued reports on WEC shares. KeyCorp boosted their price objective on shares of WEC Energy Group from $117.00 to $126.00 and gave the company an "overweight" rating in a report on Wednesday, March 4th. Argus raised shares of WEC Energy Group to a "strong-buy" rating in a report on Monday, February 9th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $127.00 price target on shares of WEC Energy Group in a report on Tuesday, April 21st. Barclays upped their price target on shares of WEC Energy Group from $111.00 to $117.00 and gave the stock an "equal weight" rating in a report on Monday, April 20th. Finally, Truist Financial cut 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 report on Monday, May 18th. One equities research 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 issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $122.13.

Insider Transactions at WEC Energy Group

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

WEC Energy Group Stock Performance

Shares of WEC Energy Group stock opened at $111.31 on Tuesday. The company has a 50 day moving average of $113.91 and a 200-day moving average of $111.61. WEC Energy Group, Inc. has a 1-year low of $102.49 and a 1-year 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 company has a market cap of $36.26 billion, a PE ratio of 22.22, a price-to-earnings-growth ratio of 2.71 and a beta of 0.47.

WEC Energy Group (NYSE:WEC - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $2.45 earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.32 billion. During the same quarter in the prior year, the firm posted $2.27 EPS. The firm's quarterly revenue was up 9.0% on a year-over-year basis. WEC Energy Group has set its FY 2026 guidance at 5.510-5.610 EPS. As a group, equities research analysts forecast that WEC Energy Group, Inc. will post 5.59 earnings per share for the current fiscal year.

WEC Energy Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Thursday, May 14th were given a dividend of $0.9525 per share. This represents a $3.81 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date was Thursday, May 14th. WEC Energy Group's dividend payout ratio is currently 76.05%.

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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