Greenwood Capital Associates LLC Takes Position in WEC Energy Group, Inc. $WEC

Greenwood Capital Associates LLC purchased a new stake in WEC Energy Group, Inc. (NYSE:WEC) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 16,872 shares of the utilities provider’s stock, valued at approximately $1,953,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Godfrey Financial Associates Inc. bought a new position in WEC Energy Group during the fourth quarter valued at approximately $25,000. Torren Management LLC bought a new stake in WEC Energy Group in the fourth quarter worth approximately $26,000. Osterweis Capital Management Inc. bought a new stake in WEC Energy Group in the second quarter worth approximately $27,000. Physician Wealth Advisors Inc. increased 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 worth $28,000 after purchasing an additional 131 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its stake in shares of WEC Energy Group by 972.7% during the 1st 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 last quarter. Institutional investors and hedge funds own 77.20% of the company’s stock.

WEC Energy Group Trading Down 1.4%

Shares of WEC Energy Group stock opened at $116.08 on Thursday. The company’s fifty day simple moving average is $113.64 and its 200-day simple moving average is $112.81. The company has a market cap of $37.81 billion, a price-to-earnings ratio of 23.17, a PEG ratio of 2.83 and a beta of 0.47. The company has a current ratio of 0.68, a quick ratio of 0.54 and a debt-to-equity ratio of 1.36. WEC Energy Group, Inc. has a 1 year low of $102.77 and a 1 year high of $119.91.

WEC Energy Group (NYSE:WEC) last released its 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 firm had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.32 billion. During the same period in the prior year, the company earned $2.27 EPS. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. WEC Energy Group has set its FY 2026 guidance at 5.510-5.610 EPS. As a group, sell-side analysts expect 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. Stockholders of record on Thursday, May 14th were given 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 dividend yield of 3.3%. WEC Energy Group’s dividend payout ratio is currently 76.05%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on WEC shares. Mizuho set a $124.00 price objective on shares of WEC Energy Group in a research note on Wednesday, May 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of WEC Energy Group in a report on Friday, June 26th. 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 report on Thursday, May 14th. Truist Financial cut their target price 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. Finally, Barclays boosted their price target on WEC Energy Group from $111.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $123.60.

Insider Activity at WEC Energy Group

In related news, EVP Daniel Krueger sold 4,665 shares of the 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 completion of the sale, the executive vice president owned 7,346 shares in the company, valued at approximately $815,112.16. This trade represents a 38.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.46% of the company’s stock.

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.