WEC Energy Group, Inc. $WEC Shares Acquired by Allstate Corp

Allstate Corp lifted its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 108.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 24,477 shares of the utilities provider’s stock after acquiring an additional 12,728 shares during the period. Allstate Corp’s holdings in WEC Energy Group were worth $2,581,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in WEC. MSH Capital Advisors LLC lifted its position in shares of WEC Energy Group by 37.4% during the 4th quarter. MSH Capital Advisors LLC now owns 10,697 shares of the utilities provider’s stock valued at $1,128,000 after buying an additional 2,911 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in WEC Energy Group by 21.6% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 625 shares of the utilities provider’s stock valued at $66,000 after purchasing an additional 111 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in WEC Energy Group by 7.7% in the 4th quarter. Fisher Asset Management LLC now owns 2,172 shares of the utilities provider’s stock valued at $229,000 after purchasing an additional 156 shares in the last quarter. Clearstead Advisors LLC lifted its holdings in WEC Energy Group by 34.6% in the 4th quarter. Clearstead Advisors LLC now owns 8,620 shares of the utilities provider’s stock valued at $909,000 after purchasing an additional 2,217 shares in the last quarter. Finally, Glenview Trust Co lifted its holdings in WEC Energy Group by 36.1% in the 4th quarter. Glenview Trust Co now owns 3,723 shares of the utilities provider’s stock valued at $393,000 after purchasing an additional 988 shares in the last quarter. Institutional investors and hedge funds own 77.20% of the company’s stock.

WEC Energy Group Stock Up 0.2%

Shares of WEC opened at $113.27 on Thursday. WEC Energy Group, Inc. has a 52-week low of $102.49 and a 52-week high of $119.62. The company has a market capitalization of $36.90 billion, a PE ratio of 22.61, a price-to-earnings-growth ratio of 2.72 and a beta of 0.50. The stock has a fifty day simple moving average of $114.43 and a two-hundred day simple moving average of $111.67. 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 (NYSE:WEC) last issued its earnings results on Tuesday, May 5th. The utilities provider reported $2.45 earnings per share (EPS) for the quarter, topping 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 business had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.32 billion. During the same period last year, the company earned $2.27 EPS. The company’s revenue for the quarter 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, equities analysts forecast that WEC Energy Group, Inc. will post 5.59 EPS for the current year.

WEC Energy Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Thursday, May 14th will be given a dividend of $0.9525 per share. This represents a $3.81 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Thursday, May 14th. WEC Energy Group’s dividend payout ratio (DPR) is presently 76.05%.

Analysts Set New Price Targets

A number of brokerages have weighed in on WEC. BTIG Research restated a “buy” rating and issued a $135.00 price objective on shares of WEC Energy Group in a report on Friday, January 30th. Truist Financial decreased their price objective on WEC Energy Group from $124.00 to $119.00 and set a “hold” rating on the stock in a report on Monday, May 18th. JPMorgan Chase & Co. decreased their price objective on WEC Energy Group from $125.00 to $120.00 and set a “neutral” rating on the stock in a report on Thursday, May 14th. Mizuho set a $124.00 price objective on WEC Energy Group in a report on Wednesday, May 6th. Finally, Jefferies Financial Group cut their target price on WEC Energy Group from $124.00 to $121.00 and set a “hold” rating for the company in a research note on Wednesday, January 28th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, WEC Energy Group presently has a consensus rating of “Hold” and an average price target of $122.13.

Insider Activity

In related news, EVP Daniel Krueger sold 4,665 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $110.96, for a total transaction of $517,628.40. Following the completion of the sale, the executive vice president directly owned 7,346 shares of the company’s stock, valued at approximately $815,112.16. This trade represents a 38.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.46% of the company’s stock.

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.