Sumitomo Life Insurance Co. Makes New $1.24 Million Investment in WEC Energy Group, Inc. $WEC

Sumitomo Life Insurance Co. purchased a new stake in WEC Energy Group, Inc. (NYSE:WEC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 10,614 shares of the utilities provider’s stock, valued at approximately $1,239,000.

Several other large investors have also modified their holdings of WEC. Franklin Resources Inc. increased its stake in shares of WEC Energy Group by 175.0% during the 4th quarter. Franklin Resources Inc. now owns 3,357,608 shares of the utilities provider’s stock worth $354,093,000 after purchasing an additional 2,136,542 shares in the last quarter. Energy Income Partners LLC purchased a new stake in WEC Energy Group in the 2nd quarter valued at approximately $97,564,000. Vanguard Group Inc. lifted its stake in WEC Energy Group by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 41,099,951 shares of the utilities provider’s stock valued at $4,334,401,000 after buying an additional 819,627 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in WEC Energy Group during the 2nd quarter valued at $95,395,000. Finally, Janus Henderson Group PLC grew its holdings in WEC Energy Group by 3,337.5% during the 1st quarter. Janus Henderson Group PLC now owns 700,527 shares of the utilities provider’s stock valued at $81,097,000 after buying an additional 680,148 shares during the last quarter. 77.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at WEC Energy Group

In related news, Director Ulice Payne, Jr. sold 980 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $105.58, for a total value of $103,468.40. Following the completion of the sale, the director directly owned 19,588 shares in the company, valued at approximately $2,068,101.04. The trade was a 4.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

WEC has been the subject of a number of analyst reports. LADENBURG THALM/SH SH cut WEC Energy Group from a “buy” rating to a “neutral” rating and set a $110.50 price target for the company. in a report on Tuesday, August 4th. KeyCorp decreased their price objective on WEC Energy Group from $126.00 to $117.00 and set an “overweight” rating on the stock in a research note on Thursday, July 23rd. Mizuho set a $124.00 price objective on WEC Energy Group in a research note on Wednesday, May 6th. JPMorgan Chase & Co. lifted their price objective on WEC Energy Group from $120.00 to $124.00 and gave the stock a “neutral” rating in a research report on Thursday, July 16th. Finally, Truist Financial cut their target price on shares of WEC Energy Group from $122.00 to $114.00 and set a “hold” rating for the company in a research note on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.91.

WEC Energy Group Stock Performance

NYSE WEC opened at $106.33 on Friday. The business’s 50-day moving average price is $112.86 and its 200 day moving average price is $113.71. WEC Energy Group, Inc. has a twelve month low of $102.95 and a twelve month high of $119.91. The company has a market capitalization of $34.65 billion, a PE ratio of 20.61, a price-to-earnings-growth ratio of 1.88 and a beta of 0.47. The company has a current ratio of 0.53, a quick ratio of 0.39 and a debt-to-equity ratio of 1.35.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings results on Wednesday, July 29th. The utilities provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.80 by $0.11. WEC Energy Group had a return on equity of 12.90% and a net margin of 16.69%.The company had revenue of $2.06 billion during the quarter, compared to analysts’ expectations of $2.11 billion. During the same quarter in the previous year, the business earned $0.76 EPS. The firm’s revenue was up 2.6% on a year-over-year basis. WEC Energy Group has set its FY 2026 guidance at 5.510-5.610 EPS. On average, research analysts predict that WEC Energy Group, Inc. will post 5.59 earnings per share for the current year.

WEC Energy Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be issued a $0.9525 dividend. This represents a $3.81 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Friday, August 14th. WEC Energy Group’s payout ratio is presently 73.84%.

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.