Saudi Central Bank Has $2.66 Million Stake in WEC Energy Group, Inc. $WEC

Saudi Central Bank boosted its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 89.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,799 shares of the utilities provider’s stock after acquiring an additional 10,792 shares during the period. Saudi Central Bank’s holdings in WEC Energy Group were worth $2,662,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in WEC. Whittier Trust Co. of Nevada Inc. raised its position 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 worth $28,000 after purchasing an additional 214 shares in the last quarter. Godfrey Financial Associates Inc. acquired a new stake in WEC Energy Group in the 4th quarter valued at $25,000. Physician Wealth Advisors Inc. grew its position in WEC Energy Group by 113.9% in the first quarter. Physician Wealth Advisors Inc. now owns 246 shares of the utilities provider’s stock valued at $28,000 after acquiring an additional 131 shares during the period. Osterweis Capital Management Inc. bought a new stake in WEC Energy Group in the second quarter valued at $27,000. Finally, Compass Financial Management LLC acquired a new position in WEC Energy Group during the second quarter worth $29,000. Institutional investors and hedge funds own 77.20% of the company’s stock.

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 dated Tuesday, August 11th. The shares were 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 in the company, valued at approximately $2,068,101.04. This represents a 4.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.46% of the company’s stock.

Analyst Ratings Changes

WEC has been the topic of several recent analyst reports. LADENBURG THALM/SH SH downgraded 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 note on Tuesday, August 4th. JPMorgan Chase & Co. increased their target price on shares of WEC Energy Group from $120.00 to $124.00 and gave the stock a “neutral” rating in a research report on Thursday, July 16th. BMO Capital Markets reduced their price target on shares of WEC Energy Group from $120.00 to $117.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 22nd. KeyCorp decreased their price objective 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. Finally, Weiss Ratings lowered WEC Energy Group from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $121.91.

WEC Energy Group Stock Performance

WEC stock opened at $105.79 on Tuesday. The company has a 50 day moving average price of $111.01 and a 200 day moving average price of $113.20. WEC Energy Group, Inc. has a fifty-two week low of $102.95 and a fifty-two week high of $119.91. 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 stock has a market capitalization of $34.47 billion, a PE ratio of 20.50, a price-to-earnings-growth ratio of 2.19 and a beta of 0.47.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data on Wednesday, July 29th. The utilities provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.11. The firm had revenue of $2.06 billion for the quarter, compared to analyst estimates of $2.11 billion. WEC Energy Group had a return on equity of 12.90% and a net margin of 16.69%.The business’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period last year, the company earned $0.76 EPS. WEC Energy Group has set its FY 2026 guidance at 5.510-5.610 EPS. Analysts forecast that WEC Energy Group, Inc. will post 5.59 EPS for the current year.

WEC Energy Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th were issued a dividend of $0.9525 per share. This represents a $3.81 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Friday, August 14th. WEC Energy Group’s payout ratio is currently 73.84%.

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.