Kingsview Wealth Management LLC Buys Shares of 47,739 WEC Energy Group, Inc. $WEC

Kingsview Wealth Management LLC purchased a new stake in WEC Energy Group, Inc. (NYSE:WEC) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 47,739 shares of the utilities provider’s stock, valued at approximately $5,575,000.

Other institutional investors also recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. boosted its stake in WEC Energy Group by 972.7% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 236 shares of the utilities provider’s stock valued at $28,000 after buying an additional 214 shares in the last quarter. Godfrey Financial Associates Inc. bought a new position in WEC Energy Group in the fourth quarter valued at about $25,000. Torren Management LLC acquired a new position in WEC Energy Group during the fourth quarter worth about $26,000. Physician Wealth Advisors Inc. raised its stake in WEC Energy Group by 113.9% during the first quarter. Physician Wealth Advisors Inc. now owns 246 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 131 shares in the last quarter. Finally, Osterweis Capital Management Inc. acquired a new position in WEC Energy Group during the second quarter worth about $27,000. Institutional investors and hedge funds own 77.20% of the company’s stock.

WEC Energy Group Price Performance

WEC Energy Group stock opened at $106.15 on Friday. The stock has a 50-day moving average price of $112.23 and a two-hundred day moving average price of $113.54. WEC Energy Group, Inc. has a 12 month low of $102.95 and a 12 month high of $119.91. The company has a market capitalization of $34.59 billion, a PE ratio of 20.57, a P/E/G ratio of 1.84 and a beta of 0.47. 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 (NYSE:WEC) last released its quarterly earnings results on Wednesday, July 29th. The utilities provider reported $0.91 earnings per share for the quarter, topping 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 company had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $2.11 billion. During the same period in the previous year, the business posted $0.76 earnings per share. The business’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. Analysts expect that WEC Energy Group, Inc. will post 5.59 EPS for the current year.

WEC Energy Group Dividend Announcement

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 issued a dividend of $0.9525 per share. This represents a $3.81 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Friday, August 14th. WEC Energy Group’s payout ratio is presently 73.84%.

Insiders Place Their Bets

In other WEC Energy Group news, Director Ulice Payne, Jr. sold 980 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $105.58, for a total value of $103,468.40. Following the completion of the transaction, the director directly owned 19,588 shares in the company, valued at approximately $2,068,101.04. This represents a 4.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.46% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on WEC. Truist Financial decreased their price target 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. Mizuho set a $124.00 price objective on shares of WEC Energy Group in a research report on Wednesday, May 6th. Wall Street Zen raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Saturday. LADENBURG THALM/SH SH lowered shares of WEC Energy Group from a “buy” rating to a “neutral” rating and set a $110.50 target price on the stock. in a research report on Tuesday, August 4th. Finally, KeyCorp decreased their target price 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. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $121.91.

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.