WEC Energy Group, Inc. $WEC Stake Lessened by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management sharply reduced its WEC Energy Group stake by 96.9% in the first quarter, selling 189,641 shares and leaving it with 6,043 shares valued at about $700,000.
• WEC Energy Group reported strong quarterly results, posting EPS of $2.45 versus estimates of $2.30 and revenue of $3.43 billion, while also raising its FY 2026 guidance to 5.510-5.610 EPS.
• The company continues to reward shareholders with a quarterly dividend of $0.9525 per share, equal to a 3.2% annual yield, even as analysts maintain a mixed but generally positive outlook with a consensus price target of $123.60.

Assenagon Asset Management S.A. lessened its stake in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 96.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,043 shares of the utilities provider's stock after selling 189,641 shares during the quarter. Assenagon Asset Management S.A.'s holdings in WEC Energy Group were worth $700,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Miller Howard Investments Inc. NY raised its position in WEC Energy Group by 8.2% in the first quarter. Miller Howard Investments Inc. NY now owns 18,679 shares of the utilities provider's stock worth $2,162,000 after acquiring an additional 1,423 shares in the last quarter. Centennial Wealth Advisory LLC raised its holdings in shares of WEC Energy Group by 9.5% in the 1st quarter. Centennial Wealth Advisory LLC now owns 5,722 shares of the utilities provider's stock worth $663,000 after purchasing an additional 496 shares in the last quarter. Keudell Morrison Wealth Management bought a new stake in shares of WEC Energy Group in the 1st quarter worth approximately $388,000. CENTRAL TRUST Co lifted its stake in WEC Energy Group by 7.1% during the first quarter. CENTRAL TRUST Co now owns 6,077 shares of the utilities provider's stock valued at $704,000 after purchasing an additional 402 shares during the last quarter. Finally, Cidel Asset Management Inc. lifted its stake in WEC Energy Group by 7.3% during the first quarter. Cidel Asset Management Inc. now owns 217,803 shares of the utilities provider's stock valued at $25,215,000 after purchasing an additional 14,836 shares during the last quarter. Institutional investors own 77.20% of the company's stock.

WEC Energy Group Stock Up 2.1%

WEC Energy Group stock opened at $118.69 on Friday. The firm has a market cap of $38.66 billion, a PE ratio of 23.69, a P/E/G ratio of 2.79 and a beta of 0.47. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.54 and a current ratio of 0.68. The firm's 50 day moving average price is $113.43 and its two-hundred day moving average price is $112.46. WEC Energy Group, Inc. has a twelve month low of $102.51 and a twelve month high of $119.62.

WEC Energy Group (NYSE:WEC - Get Free Report) last issued its earnings results on Tuesday, May 5th. The utilities provider reported $2.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.30 by $0.15. The company had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.32 billion. WEC Energy Group had a net margin of 16.25% and a return on equity of 12.72%. The company's revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter last year, the business posted $2.27 EPS. WEC Energy Group has set its FY 2026 guidance at 5.510-5.610 EPS. On average, research analysts predict that WEC Energy Group, Inc. will post 5.59 EPS for the current fiscal year.

WEC Energy Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Thursday, May 14th were issued a dividend of $0.9525 per share. This represents a $3.81 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Thursday, May 14th. WEC Energy Group's payout ratio is currently 76.05%.

Insider Activity at WEC Energy Group

In related news, EVP Daniel Krueger sold 4,665 shares of the stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $110.96, for a total value of $517,628.40. Following the transaction, the executive vice president owned 7,346 shares in the company, valued at approximately $815,112.16. This represents a 38.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.46% of the company's stock.

Analyst Ratings Changes

WEC has been the topic of several recent research reports. Wells Fargo & Company restated an "overweight" rating and issued a $127.00 price target on shares of WEC Energy Group in a research report on Tuesday, April 21st. Mizuho set a $124.00 target price on WEC Energy Group in a report on Wednesday, May 6th. Wall Street Zen downgraded WEC Energy Group from a "hold" rating to a "sell" rating in a report on Sunday, May 24th. JPMorgan Chase & Co. dropped their price target on WEC Energy Group from $125.00 to $120.00 and set a "neutral" rating on the stock in a research note on Thursday, May 14th. Finally, Barclays boosted their price objective on WEC Energy Group from $111.00 to $117.00 and gave the stock an "equal weight" rating in a report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $123.60.

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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