Massachusetts Financial Services Co. MA Invests $40.36 Million in WEC Energy Group, Inc. $WEC

Massachusetts Financial Services Co. MA purchased a new stake in shares of WEC Energy Group, Inc. (NYSE:WEC) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 352,234 shares of the utilities provider’s stock, valued at approximately $40,362,000. Massachusetts Financial Services Co. MA owned about 0.11% of WEC Energy Group at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in WEC. CoreFirst Bank & Trust acquired a new stake in shares of WEC Energy Group during the 2nd quarter valued at $26,000. Bayforest Capital Ltd bought a new stake in shares of WEC Energy Group during the second quarter worth about $26,000. Osterweis Capital Management Inc. bought a new position in WEC Energy Group in the 2nd quarter valued at approximately $27,000. Salomon & Ludwin LLC acquired a new stake in WEC Energy Group during the 3rd quarter worth approximately $30,000. Finally, New England Capital Financial Advisors LLC grew its holdings in WEC Energy Group by 265.8% during the 2nd quarter. New England Capital Financial Advisors LLC now owns 278 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 202 shares during the last quarter. Institutional investors and hedge funds own 77.20% of the company’s stock.

Wall Street Analyst Weigh In

WEC has been the topic of several analyst reports. LADENBURG THALM/SH SH raised shares of WEC Energy Group from a “neutral” rating to a “buy” rating in a research note on Monday, October 13th. Barclays cut their price objective on WEC Energy Group from $110.00 to $105.00 and set an “underweight” rating on the stock in a research note on Tuesday, December 16th. BMO Capital Markets boosted their price target on shares of WEC Energy Group from $114.00 to $120.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 21st. UBS Group set a $116.00 price objective on shares of WEC Energy Group in a research report on Wednesday, December 31st. Finally, TD Cowen initiated coverage on shares of WEC Energy Group in a report on Thursday, October 16th. They issued a “hold” rating and a $125.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $120.29.

WEC Energy Group Price Performance

Shares of WEC opened at $109.50 on Thursday. The business’s fifty day moving average is $107.23 and its 200 day moving average is $109.33. WEC Energy Group, Inc. has a 12-month low of $96.37 and a 12-month high of $118.18. The company has a quick ratio of 0.33, a current ratio of 0.50 and a debt-to-equity ratio of 1.29. The stock has a market cap of $35.62 billion, a P/E ratio of 20.70, a P/E/G ratio of 2.58 and a beta of 0.58.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Thursday, October 30th. The utilities provider reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.02. The firm had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $1.86 billion. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.60%. The business’s revenue was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.82 earnings per share. WEC Energy Group has set its FY 2025 guidance at 5.170-5.270 EPS. Sell-side analysts anticipate that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

WEC Energy Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Friday, February 13th will be issued a dividend of $0.9525 per share. The ex-dividend date of this dividend is Friday, February 13th. This represents a $3.81 dividend on an annualized basis and a yield of 3.5%. This is an increase from WEC Energy Group’s previous quarterly dividend of $0.89. WEC Energy Group’s dividend payout ratio is presently 67.49%.

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.