Mirae Asset Global Investments Co. Ltd. Has $5.61 Million Position in WEC Energy Group, Inc. $WEC

Mirae Asset Global Investments Co. Ltd. boosted its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 24.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 53,220 shares of the utilities provider’s stock after acquiring an additional 10,606 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in WEC Energy Group were worth $5,613,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of WEC. Freestone Grove Partners LP grew its position in WEC Energy Group by 30,697.3% in the 3rd quarter. Freestone Grove Partners LP now owns 620,565 shares of the utilities provider’s stock valued at $71,111,000 after purchasing an additional 618,550 shares during the period. Balyasny Asset Management L.P. grew its position in WEC Energy Group by 324.1% in the 2nd quarter. Balyasny Asset Management L.P. now owns 774,679 shares of the utilities provider’s stock valued at $80,722,000 after purchasing an additional 592,028 shares during the period. Rakuten Investment Management Inc. acquired a new stake in WEC Energy Group in the 3rd quarter valued at $57,028,000. Massachusetts Financial Services Co. MA acquired a new stake in WEC Energy Group in the 3rd quarter valued at $40,362,000. Finally, Envestnet Asset Management Inc. grew its position in WEC Energy Group by 12.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 3,046,591 shares of the utilities provider’s stock valued at $349,109,000 after purchasing an additional 337,300 shares during the period. Institutional investors and hedge funds own 77.20% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Barclays set a $117.00 price target on shares of WEC Energy Group in a research report on Monday. Truist Financial set a $124.00 price target on shares of WEC Energy Group in a research report on Monday. Argus raised shares of WEC Energy Group to a “strong-buy” rating in a report on Monday, February 9th. Wells Fargo & Company cut their price objective on shares of WEC Energy Group from $124.00 to $117.00 and set an “overweight” rating on the stock in a report on Tuesday, January 20th. Finally, KeyCorp lifted their price objective on shares of WEC Energy Group from $117.00 to $126.00 and gave the stock an “overweight” rating in a report on Wednesday, March 4th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, WEC Energy Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.31.

Insider Activity

In other news, CEO Scott J. Lauber sold 8,089 shares of WEC Energy Group stock in a transaction on Monday, February 9th. The stock was sold at an average price of $110.70, for a total transaction of $895,452.30. Following the sale, the chief executive officer directly owned 66,801 shares in the company, valued at $7,394,870.70. The trade was a 10.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Mary Beth Straka sold 2,815 shares of WEC Energy Group stock in a transaction on Friday, February 13th. The stock was sold at an average price of $115.50, for a total value of $325,132.50. Following the sale, the vice president owned 4,707 shares in the company, valued at $543,658.50. The trade was a 37.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 42,354 shares of company stock valued at $4,855,505 over the last quarter. 0.46% of the stock is owned by insiders.

WEC Energy Group Price Performance

WEC opened at $115.14 on Tuesday. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.59 and a quick ratio of 0.44. The company has a market capitalization of $37.50 billion, a price-to-earnings ratio of 23.84, a P/E/G ratio of 2.78 and a beta of 0.53. The firm’s fifty day moving average price is $115.53 and its two-hundred day moving average price is $111.94. WEC Energy Group, Inc. has a 1 year low of $100.61 and a 1 year high of $119.62.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Thursday, February 5th. The utilities provider reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. The firm had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.19 billion. WEC Energy Group had a net margin of 15.90% and a return on equity of 12.40%. The business’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.43 EPS. WEC Energy Group has set its FY 2026 guidance at 5.510-5.610 EPS. As a group, analysts anticipate that WEC Energy Group, Inc. will post 5.6 earnings per share for the current fiscal year.

WEC Energy Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Thursday, May 14th will be issued a dividend of $0.9525 per share. This represents a $3.81 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Thursday, May 14th. WEC Energy Group’s payout ratio is currently 78.88%.

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.