Vise Technologies Inc. Takes $4.60 Million Position in WEC Energy Group, Inc. $WEC

Key Points

• Vise Technologies acquired 39,370 WEC shares in the second quarter, valued at approximately $4.60 million. Institutional investors collectively own 77.20% of WEC Energy Group.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $121.91, although several brokerages recently lowered their targets. WEC most recently reported quarterly EPS of $0.91, exceeding the $0.80 consensus estimate.
• WEC declared a quarterly dividend of $0.9525 per share, equivalent to $3.81 annually and a 3.5% yield. The company’s stock opened at $108.40, near the lower end of its 52-week range.

Vise Technologies Inc. purchased a new position in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 39,370 shares of the utilities provider's stock, valued at approximately $4,597,000.

Other large investors have also modified their holdings of the company. NBC Securities Inc. grew its stake in shares of WEC Energy Group by 5,040.6% in the fourth quarter. NBC Securities Inc. now owns 32,386 shares of the utilities provider's stock worth $3,415,000 after purchasing an additional 31,756 shares in the last quarter. Pictet Asset Management Holding SA raised its stake in shares of WEC Energy Group by 195.1% during the fourth quarter. Pictet Asset Management Holding SA now owns 482,309 shares of the utilities provider's stock valued at $50,864,000 after purchasing an additional 318,846 shares in the last quarter. North Dakota State Investment Board bought a new stake in shares of WEC Energy Group during the fourth quarter valued at about $1,155,000. Annex Advisory Services LLC lifted its holdings in WEC Energy Group by 8.6% in the second quarter. Annex Advisory Services LLC now owns 121,431 shares of the utilities provider's stock worth $14,179,000 after purchasing an additional 9,591 shares during the period. Finally, Sterling Capital Management LLC lifted its holdings in WEC Energy Group by 106.3% in the first quarter. Sterling Capital Management LLC now owns 44,046 shares of the utilities provider's stock worth $5,099,000 after purchasing an additional 22,697 shares during the period. Institutional investors and hedge funds own 77.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on WEC. Mizuho set a $124.00 target price on shares of WEC Energy Group in a research report on Wednesday, May 6th. 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. KeyCorp reduced their price target on shares of WEC Energy Group from $126.00 to $117.00 and set an "overweight" rating for the company in a research note on Thursday, July 23rd. 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 report on Wednesday, July 22nd. Finally, Truist Financial lowered their price objective on shares of WEC Energy Group from $122.00 to $114.00 and set a "hold" rating on the stock in a research note on Thursday, August 13th. One investment 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 stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $121.91.

WEC Energy Group Stock Performance

WEC opened at $108.40 on Friday. The firm has a market cap of $35.32 billion, a PE ratio of 21.01, a P/E/G ratio of 1.89 and a beta of 0.47. 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 business has a fifty day simple moving average of $113.00 and a 200-day simple moving average of $113.76. WEC Energy Group, Inc. has a fifty-two week low of $102.95 and a fifty-two week high of $119.91.

WEC Energy Group (NYSE:WEC - Get Free Report) last issued its earnings results on Wednesday, July 29th. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.80 by $0.11. The business had revenue of $2.06 billion for the quarter, compared to analysts' expectations of $2.11 billion. WEC Energy Group had a return on equity of 12.90% and a net margin of 16.69%.The company's quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.76 EPS. WEC Energy Group has set its FY 2026 guidance at 5.510-5.610 EPS. As a group, equities analysts predict that WEC Energy Group, Inc. will post 5.59 EPS for the current fiscal year.

WEC Energy Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be paid a $0.9525 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $3.81 dividend on an annualized basis and a yield of 3.5%. WEC Energy Group's dividend payout ratio (DPR) is currently 73.84%.

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 dated Tuesday, August 11th. The stock was sold at an average price of $105.58, for a total transaction of $103,468.40. Following the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.46% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source