Fifth Third Bancorp Boosts Stock Holdings in WEC Energy Group, Inc. $WEC

Fifth Third Bancorp grew its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 125.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 173,765 shares of the utilities provider’s stock after buying an additional 96,651 shares during the period. Fifth Third Bancorp’s holdings in WEC Energy Group were worth $20,117,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in WEC. Whittier Trust Co. of Nevada Inc. boosted its position in WEC Energy Group by 972.7% during 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 during the period. Godfrey Financial Associates Inc. bought a new stake in shares of WEC Energy Group in the fourth quarter valued at approximately $25,000. Torren Management LLC bought a new stake in shares of WEC Energy Group in the fourth quarter valued at approximately $26,000. Physician Wealth Advisors Inc. lifted its stake in shares of WEC Energy Group by 113.9% during the 1st quarter. Physician Wealth Advisors Inc. now owns 246 shares of the utilities provider’s stock valued at $28,000 after buying an additional 131 shares in the last quarter. Finally, Osterweis Capital Management Inc. bought a new position in WEC Energy Group in the 2nd quarter worth approximately $27,000. Institutional investors own 77.20% of the company’s stock.

Insider Activity at WEC Energy Group

In related news, EVP Daniel Krueger sold 4,665 shares of the business’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 transaction, the executive vice president owned 7,346 shares in the company, valued at $815,112.16. The trade was a 38.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on WEC. Wall Street Zen lowered WEC Energy Group from a “hold” rating to a “sell” rating in a report on Sunday, May 24th. Wells Fargo & Company reiterated an “overweight” rating and set a $127.00 price objective on shares of WEC Energy Group in a research note on Tuesday, April 21st. JPMorgan Chase & Co. dropped 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. Truist Financial reduced their target price on WEC Energy Group from $124.00 to $119.00 and set a “hold” rating for the company in a report on Monday, May 18th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of WEC Energy Group in a report on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, WEC Energy Group has a consensus rating of “Moderate Buy” and an average target price of $123.60.

WEC Energy Group Stock Up 0.7%

Shares of NYSE:WEC opened at $115.73 on Tuesday. WEC Energy Group, Inc. has a 52-week low of $102.95 and a 52-week high of $119.91. The firm has a fifty day moving average of $113.59 and a 200 day moving average of $113.04. The firm has a market capitalization of $37.70 billion, a PE ratio of 23.10, a price-to-earnings-growth ratio of 2.76 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 EPS for the quarter, beating analysts’ consensus estimates 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 last year, the business 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. As a group, research analysts anticipate that WEC Energy Group, Inc. will post 5.59 EPS for the current fiscal year.

WEC Energy Group Announces Dividend

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

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.