WEC Energy Group, Inc. $WEC Shares Acquired by DAVENPORT & Co LLC

DAVENPORT & Co LLC lifted its stake in WEC Energy Group, Inc. (NYSE:WEC) by 15.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 96,430 shares of the utilities provider’s stock after purchasing an additional 12,773 shares during the period. DAVENPORT & Co LLC’s holdings in WEC Energy Group were worth $11,260,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. BLB&B Advisors LLC bought a new stake in shares of WEC Energy Group during the fourth quarter worth $6,096,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of WEC Energy Group by 24.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 53,220 shares of the utilities provider’s stock worth $5,613,000 after acquiring an additional 10,606 shares in the last quarter. Assetmark Inc. raised its position in shares of WEC Energy Group by 5.4% in the 4th quarter. Assetmark Inc. now owns 180,068 shares of the utilities provider’s stock worth $18,990,000 after acquiring an additional 9,198 shares in the last quarter. NBC Securities Inc. lifted its stake in shares of WEC Energy Group by 5,040.6% in the 4th quarter. NBC Securities Inc. now owns 32,386 shares of the utilities provider’s stock valued at $3,415,000 after purchasing an additional 31,756 shares during the period. Finally, Pictet Asset Management Holding SA lifted its stake in shares of WEC Energy Group by 195.1% in the 4th quarter. Pictet Asset Management Holding SA now owns 482,309 shares of the utilities provider’s stock valued at $50,864,000 after purchasing an additional 318,846 shares during the period. 77.20% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on WEC. Truist Financial raised their target price on WEC Energy Group from $119.00 to $122.00 and gave the stock a “hold” rating in a research note on Thursday, July 16th. Mizuho set a $124.00 price target on WEC Energy Group in a research note on Wednesday, May 6th. Barclays increased their price target 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. BMO Capital Markets reduced their price objective on shares of WEC Energy Group from $120.00 to $117.00 and set a “market perform” rating for the company in a research report on Wednesday, July 22nd. Finally, Wall Street Zen lowered shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Sunday, May 24th. 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 company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $122.41.

Insider Buying and Selling

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 directly owned 19,588 shares of the company’s stock, valued at $2,068,101.04. This represents a 4.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Daniel Krueger sold 4,665 shares of the stock in a transaction 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 completion of 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 disclosure for this sale is available in the SEC filing. 0.46% of the stock is owned by corporate insiders.

WEC Energy Group Price Performance

WEC stock opened at $108.96 on Thursday. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.53 and a quick ratio of 0.39. The company’s 50-day moving average is $113.31 and its 200-day moving average is $113.76. The stock has a market capitalization of $35.50 billion, a PE ratio of 21.12, a price-to-earnings-growth ratio of 1.85 and a beta of 0.47. WEC Energy Group, Inc. has a 1 year low of $102.95 and a 1 year high of $119.91.

WEC Energy Group (NYSE:WEC) last issued its earnings results on Wednesday, July 29th. The utilities provider reported $0.91 EPS for the quarter, beating 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 period in the previous year, the company posted $0.76 EPS. The firm’s 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. Equities research analysts expect that WEC Energy Group, Inc. will post 5.59 EPS for the current fiscal year.

WEC Energy Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be issued a dividend of $0.9525 per share. The ex-dividend date is Friday, August 14th. This represents a $3.81 annualized dividend and a dividend yield of 3.5%. WEC Energy Group’s payout ratio is currently 73.84%.

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.