WEC Energy Group, Inc. $WEC Shares Bought by Saudi Central Bank

Key Points

• Saudi Central Bank nearly doubled its WEC Energy Group stake in the second quarter, increasing holdings by 89.9% to 22,799 shares valued at approximately $2.66 million. Institutional investors collectively own 77.2% of the company.
• Analyst sentiment remains moderately positive, with a consensus rating of “Moderate Buy” and an average price target of $121.91, although several firms recently lowered ratings or price targets.
• WEC reported quarterly EPS of $0.91, beating estimates of $0.80, and maintained its dividend at $0.9525 per share quarterly—equivalent to a 3.6% annualized yield.

Saudi Central Bank boosted its position in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 89.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 22,799 shares of the utilities provider's stock after buying an additional 10,792 shares during the quarter. Saudi Central Bank's holdings in WEC Energy Group were worth $2,662,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Godfrey Financial Associates Inc. acquired a new stake in WEC Energy Group during the 4th quarter worth $25,000. Osterweis Capital Management Inc. acquired a new stake in WEC Energy Group during the second quarter worth $27,000. Physician Wealth Advisors Inc. raised its holdings in WEC Energy Group by 113.9% in the 1st quarter. Physician Wealth Advisors Inc. now owns 246 shares of the utilities provider's stock valued at $28,000 after buying an additional 131 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of WEC Energy Group by 972.7% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 236 shares of the utilities provider's stock worth $28,000 after acquiring an additional 214 shares during the last quarter. Finally, Compass Financial Management LLC purchased a new position in shares of WEC Energy Group during the second quarter worth $29,000. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Wall Street Zen raised shares of WEC Energy Group from a "sell" rating to a "hold" rating in a research report on Sunday. JPMorgan Chase & Co. upped their target price on shares of WEC Energy Group from $120.00 to $124.00 and gave the company a "neutral" rating in a report on Thursday, July 16th. LADENBURG THALM/SH SH downgraded WEC Energy Group from a "buy" rating to a "neutral" rating and set a $110.50 price target on the stock. in a research note on Tuesday, August 4th. Weiss Ratings cut shares of WEC Energy Group from a "buy (b)" rating to a "buy (b-)" rating in a report on Wednesday, August 5th. Finally, BMO Capital Markets cut 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 report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $121.91.

Insiders Place Their Bets

In other news, Director Ulice Payne, Jr. sold 980 shares of WEC Energy Group stock in a transaction that occurred on 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 of the company's stock, valued at approximately $2,068,101.04. The trade was a 4.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.46% of the stock is currently owned by corporate insiders.

WEC Energy Group Stock Down 0.1%

WEC opened at $105.79 on Tuesday. The stock has a market capitalization of $34.47 billion, a price-to-earnings ratio of 20.50, a price-to-earnings-growth ratio of 2.19 and a beta of 0.47. The business has a 50-day moving average of $111.01 and a two-hundred day moving average of $113.20. WEC Energy Group, Inc. has a 12 month low of $102.95 and a 12 month high of $119.91. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.53 and a quick ratio of 0.39.

WEC Energy Group (NYSE:WEC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.11. WEC Energy Group had a return on equity of 12.90% and a net margin of 16.69%.The firm had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same period in the prior year, the firm earned $0.76 EPS. The firm's quarterly revenue was up 2.6% compared to the same quarter last year. WEC Energy Group has set its FY 2026 guidance at 5.510-5.610 EPS. On average, research analysts expect that WEC Energy Group, Inc. will post 5.59 earnings per share for the current year.

WEC Energy Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th were given a $0.9525 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $3.81 annualized dividend and a yield of 3.6%. WEC Energy Group's dividend payout ratio (DPR) is currently 73.84%.

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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