Perigon Wealth Management LLC Takes $656,000 Position in WEC Energy Group, Inc. $WEC

Perigon Wealth Management LLC bought a new position in WEC Energy Group, Inc. (NYSE:WEC) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,619 shares of the utilities provider’s stock, valued at approximately $656,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Godfrey Financial Associates Inc. bought a new stake in WEC Energy Group in the fourth quarter valued at $25,000. Torren Management LLC bought a new position in shares of WEC Energy Group during the fourth quarter valued at $26,000. Osterweis Capital Management Inc. bought a new position in shares of WEC Energy Group during the second quarter valued at $27,000. Physician Wealth Advisors Inc. boosted its stake in shares of 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 purchasing an additional 131 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake 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 valued at $28,000 after purchasing an additional 214 shares in the last quarter. Institutional investors own 77.20% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on WEC. BMO Capital Markets lowered their target price on shares of WEC Energy Group from $120.00 to $117.00 and set a “market perform” rating on the stock in a report on Wednesday, July 22nd. Mizuho set a $124.00 price target on shares of WEC Energy Group in a research report on Wednesday, May 6th. Weiss Ratings lowered shares of WEC Energy Group from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, August 5th. KeyCorp decreased their price objective on shares of WEC Energy Group from $126.00 to $117.00 and set an “overweight” rating on the stock in a research note on Thursday, July 23rd. Finally, JPMorgan Chase & Co. raised their price objective on shares of WEC Energy Group from $120.00 to $124.00 and gave the stock a “neutral” rating in a report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, WEC Energy Group presently has a consensus rating of “Moderate Buy” and an average target price of $121.91.

Insider Activity

In other news, Director Ulice Payne, Jr. sold 980 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $105.58, for a total value of $103,468.40. Following the transaction, the director owned 19,588 shares of the company’s stock, valued at approximately $2,068,101.04. This trade represents a 4.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.46% of the company’s stock.

WEC Energy Group Stock Down 1.5%

Shares of WEC opened at $109.38 on Thursday. The firm has a market capitalization of $35.64 billion, a price-to-earnings ratio of 21.20, a PEG ratio of 1.92 and a beta of 0.47. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.39 and a current ratio of 0.53. The business’s fifty day moving average price is $113.09 and its two-hundred day moving average price is $113.78. WEC Energy Group, Inc. has a 52 week low of $102.95 and a 52 week high of $119.91.

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

WEC Energy Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be given a dividend of $0.9525 per share. The ex-dividend date 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 is presently 73.84%.

WEC Energy Group Company 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.