The Manufacturers Life Insurance Company Makes New Investment in WEC Energy Group, Inc. $WEC

The Manufacturers Life Insurance Company bought a new position in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 218,261 shares of the utilities provider's stock, valued at approximately $25,486,000. The Manufacturers Life Insurance Company owned approximately 0.07% of WEC Energy Group at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Whittier Trust Co. of Nevada Inc. grew its holdings in WEC Energy Group by 972.7% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 236 shares of the utilities provider's stock worth $28,000 after buying an additional 214 shares in the last quarter. Godfrey Financial Associates Inc. bought a new position in WEC Energy Group during the 4th quarter valued at $25,000. Torren Management LLC purchased a new position in WEC Energy Group during the 4th quarter worth $26,000. Physician Wealth Advisors Inc. boosted its holdings in WEC Energy Group by 113.9% during the 1st quarter. Physician Wealth Advisors Inc. now owns 246 shares of the utilities provider's stock worth $28,000 after acquiring an additional 131 shares during the last quarter. Finally, Osterweis Capital Management Inc. bought a new stake in shares of WEC Energy Group in the 2nd quarter worth $27,000. Institutional investors and hedge funds own 77.20% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Truist Financial lowered their target price on shares of WEC Energy Group from $122.00 to $114.00 and set a "hold" rating for the company in a report on Thursday, August 13th. Weiss Ratings downgraded shares of WEC Energy Group from a "buy (b)" rating to a "buy (b-)" rating in a research report on Wednesday, August 5th. BMO Capital Markets decreased their price objective on shares of WEC Energy Group from $120.00 to $117.00 and set a "market perform" rating for the company in a research note on Wednesday, July 22nd. Wall Street Zen cut shares of WEC Energy Group from a "hold" rating to a "sell" rating in a research report on Sunday, May 24th. Finally, JPMorgan Chase & Co. boosted their target price on WEC Energy Group from $120.00 to $124.00 and gave the stock a "neutral" rating in a research note on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $121.91.

Insider Transactions at WEC Energy Group

In related news, Director Ulice Payne, Jr. sold 980 shares of the business's stock in a transaction that occurred 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 sale, the director owned 19,588 shares in the company, valued at $2,068,101.04. The trade was a 4.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.46% of the stock is currently owned by company insiders.

WEC Energy Group Price Performance

WEC opened at $106.29 on Friday. The firm has a 50-day moving average price of $112.36 and a 200-day moving average price of $113.59. WEC Energy Group, Inc. has a twelve month low of $102.95 and a twelve month 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 company has a market capitalization of $34.64 billion, a price-to-earnings ratio of 20.60, a PEG ratio of 1.86 and a beta of 0.47.

WEC Energy Group (NYSE:WEC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The utilities provider reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.80 by $0.11. The firm had revenue of $2.06 billion during 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 period last year, the company earned $0.76 earnings per share. WEC Energy Group has set its FY 2026 guidance at 5.510-5.610 EPS. Equities analysts expect that WEC Energy Group, Inc. will post 5.59 EPS for the current year.

WEC Energy Group Dividend Announcement

The company also recently declared 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 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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