Sumitomo Mitsui Trust Group Inc. Decreases Stock Position in WEC Energy Group, Inc. $WEC

Sumitomo Mitsui Trust Group Inc. cut its stake in WEC Energy Group, Inc. (NYSE:WEC) by 3.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 780,223 shares of the utilities provider’s stock after selling 25,028 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.24% of WEC Energy Group worth $90,326,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. raised its stake in shares of 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 acquiring an additional 214 shares during the period. Godfrey Financial Associates Inc. bought a new stake in shares of WEC Energy Group in the 4th quarter worth about $25,000. Torren Management LLC purchased a new position in shares of WEC Energy Group during the 4th quarter worth about $26,000. Physician Wealth Advisors Inc. boosted its stake in shares of WEC Energy Group by 113.9% during the 1st quarter. Physician Wealth Advisors Inc. now owns 246 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 131 shares during the period. Finally, Osterweis Capital Management Inc. purchased a new position in shares of WEC Energy Group during the 2nd quarter worth about $27,000. 77.20% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at WEC Energy Group

In other WEC Energy Group news, EVP Daniel Krueger sold 4,665 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $110.96, for a total transaction of $517,628.40. Following the transaction, the executive vice president directly owned 7,346 shares in the company, valued at $815,112.16. This trade represents a 38.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.46% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on WEC shares. Truist Financial reduced their price objective on shares of WEC Energy Group from $124.00 to $119.00 and set a “hold” rating on the stock in a research report on Monday, May 18th. Barclays boosted their target price on WEC Energy Group from $111.00 to $117.00 and gave the company an “equal weight” rating in a research report on Monday, April 20th. Wells Fargo & Company reiterated an “overweight” rating and issued a $127.00 price target on shares of WEC Energy Group in a report on Tuesday, April 21st. Weiss Ratings reissued a “buy (b)” rating on shares of WEC Energy Group in a research note on Friday, June 26th. Finally, JPMorgan Chase & Co. dropped their price objective on WEC Energy Group from $125.00 to $120.00 and set a “neutral” rating for the company in a report on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $123.60.

WEC Energy Group Trading Up 0.2%

WEC traded up $0.20 on Friday, reaching $115.09. 1,588,741 shares of the company traded hands, compared to its average volume of 2,060,571. The company has a market cap of $37.49 billion, a P/E ratio of 22.97, a price-to-earnings-growth ratio of 2.76 and a beta of 0.47. The company has a quick ratio of 0.54, a current ratio of 0.68 and a debt-to-equity ratio of 1.36. WEC Energy Group, Inc. has a one year low of $102.95 and a one year high of $119.91. The firm has a fifty day simple moving average of $113.64 and a two-hundred day simple moving average of $112.90.

WEC Energy Group (NYSE:WEC) last issued its earnings results on Tuesday, May 5th. The utilities provider reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.15. The business had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.32 billion. WEC Energy Group had a net margin of 16.25% and a return on equity of 12.72%. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.27 EPS. WEC Energy Group has set its FY 2026 guidance at 5.510-5.610 EPS. As a group, equities research analysts expect 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 was paid on Monday, June 1st. Investors of record on Thursday, May 14th were paid a $0.9525 dividend. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $3.81 annualized dividend and a yield of 3.3%. WEC Energy Group’s dividend payout ratio is 76.05%.

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.