WEC Energy Group, Inc. $WEC Shares Purchased by Cidel Asset Management Inc.

Cidel Asset Management Inc. raised its stake in WEC Energy Group, Inc. (NYSE:WEC) by 7.3% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 217,803 shares of the utilities provider’s stock after buying an additional 14,836 shares during the quarter. WEC Energy Group makes up about 1.4% of Cidel Asset Management Inc.’s investment portfolio, making the stock its 23rd largest holding. Cidel Asset Management Inc.’s holdings in WEC Energy Group were worth $25,215,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Godfrey Financial Associates Inc. acquired a new stake in shares of WEC Energy Group in the 4th quarter worth about $25,000. Torren Management LLC acquired a new position in WEC Energy Group during the 4th quarter valued at about $26,000. Osterweis Capital Management Inc. bought a new position in WEC Energy Group in the 2nd quarter worth about $27,000. Harbor Investment Advisory LLC grew its position in WEC Energy Group by 256.4% in the 4th quarter. Harbor Investment Advisory LLC now owns 278 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 200 shares during the last quarter. Finally, Cornerstone Planning Group LLC increased its stake in shares of WEC Energy Group by 2,400.0% in the fourth quarter. Cornerstone Planning Group LLC now owns 275 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 264 shares during the period. Institutional investors and hedge funds own 77.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on WEC shares. Wall Street Zen lowered WEC Energy Group from a “hold” rating to a “sell” rating in a report on Sunday, May 24th. KeyCorp increased their price target on WEC Energy Group from $117.00 to $126.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 4th. Truist Financial cut their price objective on shares of WEC Energy Group from $124.00 to $119.00 and set a “hold” rating on the stock in a research note on Monday, May 18th. Barclays upped their price objective on shares of WEC Energy Group from $111.00 to $117.00 and gave the stock an “equal weight” rating in a report on Monday, April 20th. Finally, Mizuho set a $124.00 target price on shares of WEC Energy Group in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $122.12.

WEC Energy Group Stock Performance

Shares of NYSE WEC opened at $114.29 on Wednesday. The stock has a fifty day moving average price of $113.17 and a two-hundred day moving average price of $111.83. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.54 and a current ratio of 0.68. The firm has a market cap of $37.23 billion, a P/E ratio of 22.81, a PEG ratio of 2.72 and a beta of 0.47. WEC Energy Group, Inc. has a 1 year low of $102.49 and a 1 year high of $119.62.

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, beating the consensus estimate of $2.30 by $0.15. WEC Energy Group had a return on equity of 12.72% and a net margin of 16.25%.The company had revenue of $3.43 billion for the quarter, compared to analysts’ expectations of $3.32 billion. During the same period last year, the firm earned $2.27 EPS. The firm’s revenue for the quarter 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. Research analysts forecast that WEC Energy Group, Inc. will post 5.59 EPS for the current fiscal year.

WEC Energy Group Dividend Announcement

The company also recently announced 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. This represents a $3.81 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Thursday, May 14th. WEC Energy Group’s payout ratio is presently 76.05%.

Insider Buying and Selling

In other WEC Energy Group 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 approximately $815,112.16. The trade was a 38.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.46% of the company’s stock.

WEC Energy Group Company 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.