WEC Energy Group, Inc. $WEC Shares Acquired by Eventide Asset Management LLC

Eventide Asset Management LLC lifted its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 550.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 206,717 shares of the utilities provider’s stock after acquiring an additional 174,952 shares during the period. Eventide Asset Management LLC’s holdings in WEC Energy Group were worth $21,832,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. London & Capital Asset Management Ltd lifted its position in WEC Energy Group by 48.1% in the third quarter. London & Capital Asset Management Ltd now owns 31,498 shares of the utilities provider’s stock worth $3,609,000 after purchasing an additional 10,231 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in WEC Energy Group by 4.1% in the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 636,134 shares of the utilities provider’s stock worth $72,895,000 after purchasing an additional 24,805 shares during the period. Park National Corp OH lifted its position in WEC Energy Group by 4,008.6% in the fourth quarter. Park National Corp OH now owns 135,010 shares of the utilities provider’s stock worth $14,238,000 after purchasing an additional 131,724 shares during the period. Rathbones Group PLC lifted its position in WEC Energy Group by 2.3% in the third quarter. Rathbones Group PLC now owns 748,935 shares of the utilities provider’s stock worth $85,820,000 after purchasing an additional 16,800 shares during the period. Finally, Assetmark Inc. lifted its position in WEC Energy Group by 14.4% in the third quarter. Assetmark Inc. now owns 170,870 shares of the utilities provider’s stock worth $19,580,000 after purchasing an additional 21,525 shares during the period. 77.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

WEC has been the subject of a number of research analyst reports. Wall Street Zen downgraded WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Sunday, May 24th. Mizuho set a $124.00 target price on WEC Energy Group in a research report on Wednesday, May 6th. Truist Financial cut their price objective on WEC Energy Group from $124.00 to $119.00 and set a “hold” rating for the company in a research report on Monday, May 18th. KeyCorp increased their price objective on WEC Energy Group from $117.00 to $126.00 and gave the company an “overweight” rating in a research report on Wednesday, March 4th. Finally, JPMorgan Chase & Co. cut their price objective on WEC Energy Group from $125.00 to $120.00 and set a “neutral” rating for the company in a research report on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $122.13.

Insider Transactions at WEC Energy Group

In related news, EVP Daniel Krueger sold 4,665 shares of the company’s stock in a transaction on Tuesday, May 19th. The shares were 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 represents a 38.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.46% of the company’s stock.

WEC Energy Group Trading Up 0.2%

WEC Energy Group stock opened at $113.30 on Friday. The company’s fifty day simple moving average is $113.76 and its 200-day simple moving average is $111.68. 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 12 month low of $102.49 and a 12 month high of $119.62. The stock has a market cap of $36.91 billion, a P/E ratio of 22.62, a P/E/G ratio of 2.73 and a beta of 0.47.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $2.45 EPS for the quarter, beating 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 period in the previous year, the company posted $2.27 EPS. WEC Energy Group’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 forecast that WEC Energy Group, Inc. will post 5.59 EPS for the current fiscal year.

WEC Energy Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Thursday, May 14th were 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 was Thursday, May 14th. 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.