BI Asset Management Fondsmaeglerselskab A S Cuts Stake in WEC Energy Group, Inc. $WEC

BI Asset Management Fondsmaeglerselskab A S lessened its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 27.6% in the 1st quarter, Holdings Channel reports. The firm owned 22,883 shares of the utilities provider’s stock after selling 8,720 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in WEC Energy Group were worth $2,649,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WEC. Pure Financial Advisors LLC boosted its holdings in WEC Energy Group by 3.9% in the 4th quarter. Pure Financial Advisors LLC now owns 2,319 shares of the utilities provider’s stock worth $245,000 after buying an additional 86 shares during the last quarter. Inscription Capital LLC raised its holdings in shares of WEC Energy Group by 4.7% during the fourth quarter. Inscription Capital LLC now owns 2,036 shares of the utilities provider’s stock valued at $215,000 after acquiring an additional 91 shares during the last quarter. Moors & Cabot Inc. raised its holdings in shares of WEC Energy Group by 1.7% during the third quarter. Moors & Cabot Inc. now owns 5,511 shares of the utilities provider’s stock valued at $632,000 after acquiring an additional 93 shares during the last quarter. Matrix Trust Co lifted its position in shares of WEC Energy Group by 0.7% in the fourth quarter. Matrix Trust Co now owns 14,300 shares of the utilities provider’s stock valued at $1,508,000 after acquiring an additional 95 shares in the last quarter. Finally, State of Wyoming lifted its position in shares of WEC Energy Group by 5.7% in the second quarter. State of Wyoming now owns 1,762 shares of the utilities provider’s stock valued at $184,000 after acquiring an additional 95 shares in the last quarter. 77.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Daniel Krueger sold 4,665 shares of the business’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $110.96, for a total value of $517,628.40. Following the sale, the executive vice president directly owned 7,346 shares in the company, valued at $815,112.16. The trade was a 38.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.46% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on WEC. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $127.00 price target on shares of WEC Energy Group in a research note on Tuesday, April 21st. Barclays raised their price objective on WEC Energy Group from $111.00 to $117.00 and gave the company an “equal weight” rating in a report on Monday, April 20th. JPMorgan Chase & Co. lowered their target price on shares of WEC Energy Group from $125.00 to $120.00 and set a “neutral” rating on the stock in a research note on Thursday, May 14th. Mizuho set a $124.00 target price on shares of WEC Energy Group in a report on Wednesday, May 6th. Finally, KeyCorp increased their target price on shares of WEC Energy Group from $117.00 to $126.00 and gave the company an “overweight” rating in a research report on Wednesday, March 4th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $122.12.

WEC Energy Group Stock Up 1.1%

WEC stock opened at $114.29 on Wednesday. WEC Energy Group, Inc. has a one year low of $102.49 and a one year high of $119.62. The firm’s 50 day moving average price is $113.17 and its 200-day moving average price is $111.83. The firm has a market cap of $37.23 billion, a PE ratio of 22.81, a PEG ratio of 2.72 and a beta of 0.47. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.54 and a current ratio of 0.68.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.15. WEC Energy Group had a net margin of 16.25% and a return on equity of 12.72%. The business had revenue of $3.43 billion for the quarter, compared to analysts’ expectations of $3.32 billion. During the same quarter in the prior year, the company earned $2.27 earnings per share. The business’s quarterly 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. On average, equities research analysts anticipate that WEC Energy Group, Inc. will post 5.59 EPS for the current year.

WEC Energy Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Thursday, May 14th were issued a dividend of $0.9525 per share. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $3.81 dividend on an annualized basis and a yield of 3.3%. WEC Energy Group’s payout ratio is currently 76.05%.

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.