Magellan Asset Management Ltd Buys New Holdings in WEC Energy Group, Inc. $WEC

Magellan Asset Management Ltd acquired a new stake in WEC Energy Group, Inc. (NYSE:WEC) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 1,238,180 shares of the utilities provider’s stock, valued at approximately $144,582,000. WEC Energy Group accounts for about 3.2% of Magellan Asset Management Ltd’s portfolio, making the stock its 13th largest position.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in WEC Energy Group by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 41,099,951 shares of the utilities provider’s stock valued at $4,334,401,000 after purchasing an additional 819,627 shares during the period. Geode Capital Management LLC raised its stake in WEC Energy Group by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 8,838,003 shares of the utilities provider’s stock valued at $928,653,000 after buying an additional 88,557 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in WEC Energy Group by 1.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,336,861 shares of the utilities provider’s stock worth $562,826,000 after purchasing an additional 52,467 shares in the last quarter. Northern Trust Corp grew its holdings in shares of WEC Energy Group by 1.4% during the fourth quarter. Northern Trust Corp now owns 3,641,145 shares of the utilities provider’s stock valued at $383,995,000 after buying an additional 48,903 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of WEC Energy Group by 175.0% during the fourth quarter. Franklin Resources Inc. now owns 3,357,608 shares of the utilities provider’s stock valued at $354,093,000 after purchasing an additional 2,136,542 shares in the last quarter. Institutional investors own 77.20% of the company’s stock.

WEC Energy Group Trading Up 0.3%

WEC Energy Group stock opened at $106.33 on Monday. The company has a current ratio of 0.53, a quick ratio of 0.39 and a debt-to-equity ratio of 1.35. WEC Energy Group, Inc. has a 12-month low of $102.95 and a 12-month high of $119.91. The firm has a market capitalization of $34.65 billion, a price-to-earnings ratio of 20.61, a P/E/G ratio of 1.83 and a beta of 0.47. The firm has a 50 day moving average of $112.86 and a 200 day moving average of $113.74.

WEC Energy Group (NYSE:WEC) last issued its quarterly 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. WEC Energy Group had a return on equity of 12.90% and a net margin of 16.69%.The business had revenue of $2.06 billion during the quarter, compared to analyst estimates of $2.11 billion. During the same quarter in the prior year, the business posted $0.76 EPS. WEC Energy Group’s revenue for the quarter 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. As a group, research analysts predict that WEC Energy Group, Inc. will post 5.59 earnings per share for the current year.

WEC Energy Group Dividend Announcement

The company also recently disclosed 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 3.6%. WEC Energy Group’s payout ratio is 73.84%.

Insider Activity

In other news, Director Ulice Payne, Jr. sold 980 shares of the company’s 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 transaction, the director owned 19,588 shares of the company’s stock, valued at approximately $2,068,101.04. This represents a 4.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.46% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

WEC has been the subject of a number of research reports. BMO Capital Markets decreased their target price on shares of WEC Energy Group from $120.00 to $117.00 and set a “market perform” rating for the company in a research note on Wednesday, July 22nd. Truist Financial dropped 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 report on Thursday, August 13th. 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. Wall Street Zen cut shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Sunday, May 24th. Finally, KeyCorp cut their price objective on shares of WEC Energy Group from $126.00 to $117.00 and set an “overweight” rating for the company in a research report on Thursday, July 23rd. One equities 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 data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $121.91.

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.