Magellan Asset Management Ltd Has $146.02 Million Position in WEC Energy Group, Inc. $WEC

Magellan Asset Management Ltd lessened its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 1.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,261,329 shares of the utilities provider’s stock after selling 23,784 shares during the quarter. WEC Energy Group accounts for approximately 1.9% of Magellan Asset Management Ltd’s holdings, making the stock its 23rd biggest holding. Magellan Asset Management Ltd owned approximately 0.39% of WEC Energy Group worth $146,024,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Vaughan Nelson Investment Management L.P. boosted its holdings in WEC Energy Group by 26.2% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 529,319 shares of the utilities provider’s stock valued at $55,822,000 after purchasing an additional 109,745 shares in the last quarter. Oak Thistle LLC acquired a new position in shares of WEC Energy Group in the 4th quarter worth approximately $5,363,000. Mirae Asset Global Investments Co. Ltd. raised its holdings 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 buying an additional 10,606 shares in the last quarter. Pictet Asset Management Holding SA lifted its position in shares of WEC Energy Group by 195.1% during the 4th quarter. Pictet Asset Management Holding SA now owns 482,309 shares of the utilities provider’s stock worth $50,864,000 after buying an additional 318,846 shares during the period. Finally, Country Trust Bank lifted its position in shares of WEC Energy Group by 6.3% during the 4th quarter. Country Trust Bank now owns 255,685 shares of the utilities provider’s stock worth $26,965,000 after buying an additional 15,182 shares during the period. Institutional investors and hedge funds own 77.20% of the company’s stock.

Insider Buying and Selling at WEC Energy Group

In other 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 value of $517,628.40. Following the completion of the sale, the executive vice president directly owned 7,346 shares in the company, valued at approximately $815,112.16. This trade represents a 38.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.46% of the company’s stock.

WEC Energy Group Stock Down 0.8%

Shares of WEC opened at $111.68 on Wednesday. The company has a market capitalization of $36.38 billion, a P/E ratio of 22.29, a PEG ratio of 1.95 and a beta of 0.47. WEC Energy Group, Inc. has a one year low of $102.95 and a one year high of $119.91. The business’s 50 day simple moving average is $113.61 and its 200-day simple moving average is $113.36. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.68 and a quick ratio of 0.54.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.15. WEC Energy Group had a return on equity of 12.72% and a net margin of 16.25%.The firm had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.32 billion. During the same period last year, the firm posted $2.27 EPS. The business’s revenue was up 9.0% on a year-over-year basis. WEC Energy Group has set its FY 2026 guidance at 5.510-5.610 EPS. As a group, sell-side analysts predict that WEC Energy Group, Inc. will post 5.59 EPS for the current fiscal year.

WEC Energy Group Announces Dividend

The firm also recently announced 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. This represents a $3.81 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Friday, August 14th. WEC Energy Group’s dividend payout ratio is presently 76.05%.

Analyst Ratings Changes

WEC has been the topic of a number of analyst reports. Wells Fargo & Company reiterated an “overweight” rating and issued a $127.00 price target on shares of WEC Energy Group in a research report on Tuesday, April 21st. Truist Financial lifted their price objective on WEC Energy Group from $119.00 to $122.00 and gave the company a “hold” rating in a report on Thursday, July 16th. Weiss Ratings restated a “buy (b)” rating on shares of WEC Energy Group in a research note on Friday, June 26th. JPMorgan Chase & Co. boosted their target price on shares of WEC Energy Group from $120.00 to $124.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Finally, Wall Street Zen lowered shares of WEC Energy Group from a “hold” rating to a “sell” rating in a report on Sunday, May 24th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $124.07.

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.