Caisse de depot et placement du Quebec Acquires Shares of 1,098,659 WEC Energy Group, Inc. $WEC

Caisse de depot et placement du Quebec acquired a new position in shares of WEC Energy Group, Inc. (NYSE:WEC) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 1,098,659 shares of the utilities provider’s stock, valued at approximately $128,290,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Legal & General Group Plc purchased a new position in WEC Energy Group during the second quarter worth about $299,100,000. Franklin Resources Inc. lifted its position in WEC Energy Group by 175.0% in the fourth quarter. Franklin Resources Inc. now owns 3,357,608 shares of the utilities provider’s stock valued at $354,093,000 after purchasing an additional 2,136,542 shares during the period. Magellan Asset Management Ltd purchased a new stake in WEC Energy Group in the 2nd quarter valued at approximately $144,582,000. Energy Income Partners LLC purchased a new stake in WEC Energy Group in the 2nd quarter valued at approximately $97,564,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in WEC Energy Group in the 2nd quarter valued at approximately $95,395,000. 77.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on WEC shares. Mizuho set a $124.00 target price on WEC Energy Group in a research note on Wednesday, May 6th. Weiss Ratings downgraded WEC Energy Group from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, August 5th. JPMorgan Chase & Co. upped their price objective on WEC Energy Group from $120.00 to $124.00 and gave the stock a “neutral” rating in a report on Thursday, July 16th. Truist Financial cut their price objective on WEC Energy Group from $122.00 to $114.00 and set a “hold” rating for the company in a research report on Thursday, August 13th. Finally, BMO Capital Markets cut their price objective on WEC Energy Group from $120.00 to $117.00 and set a “market perform” rating for the company in a research report on Wednesday, July 22nd. One research 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 data from MarketBeat, WEC Energy Group has a consensus rating of “Moderate Buy” and an average target price of $121.91.

WEC Energy Group Stock Up 1.0%

WEC stock opened at $107.69 on Thursday. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.53 and a quick ratio of 0.39. The company’s 50 day simple moving average is $112.48 and its 200-day simple moving average is $113.63. WEC Energy Group, Inc. has a 12 month low of $102.95 and a 12 month high of $119.91. The firm has a market capitalization of $35.09 billion, a PE ratio of 20.87, a P/E/G ratio of 1.85 and a beta of 0.47.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data on Wednesday, July 29th. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same period in the previous year, the firm posted $0.76 EPS. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. WEC Energy Group has set its FY 2026 guidance at 5.510-5.610 EPS. Equities analysts expect that WEC Energy Group, Inc. will post 5.59 earnings per share for the current fiscal year.

WEC Energy Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders 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 dividend yield of 3.5%. The ex-dividend date of this dividend is Friday, August 14th. WEC Energy Group’s payout ratio is 73.84%.

Insider Activity

In other news, Director Ulice Payne, Jr. sold 980 shares of the company’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $105.58, for a total value of $103,468.40. Following the sale, the director directly owned 19,588 shares in the company, valued at $2,068,101.04. This represents a 4.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.46% of the stock is owned by corporate insiders.

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.