NewEdge Wealth LLC Takes $1.70 Million Position in WEC Energy Group, Inc. $WEC

NewEdge Wealth LLC acquired a new position in WEC Energy Group, Inc. (NYSE:WEC) during the 2nd quarter, Holdings Channel reports. The fund acquired 14,571 shares of the utilities provider’s stock, valued at approximately $1,701,000.

Other large investors have also recently added to or reduced their stakes in the company. Empowered Funds LLC grew its position in shares of WEC Energy Group by 16.9% in the first quarter. Empowered Funds LLC now owns 16,698 shares of the utilities provider’s stock valued at $1,820,000 after purchasing an additional 2,417 shares during the last quarter. Woodline Partners LP raised its position in shares of WEC Energy Group by 41.3% during the 1st quarter. Woodline Partners LP now owns 26,839 shares of the utilities provider’s stock worth $2,925,000 after purchasing an additional 7,841 shares during the last quarter. Cerity Partners LLC lifted its stake in WEC Energy Group by 7.3% in the 2nd quarter. Cerity Partners LLC now owns 44,286 shares of the utilities provider’s stock valued at $4,616,000 after buying an additional 3,006 shares in the last quarter. Qube Research & Technologies Ltd grew its holdings in WEC Energy Group by 477.4% during the 2nd quarter. Qube Research & Technologies Ltd now owns 333,552 shares of the utilities provider’s stock valued at $34,756,000 after buying an additional 275,786 shares during the last quarter. Finally, NewEdge Advisors LLC increased its position in WEC Energy Group by 8.8% during the second quarter. NewEdge Advisors LLC now owns 58,364 shares of the utilities provider’s stock worth $6,082,000 after buying an additional 4,730 shares in the last quarter. 77.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other WEC Energy Group news, Director Ulice Payne, Jr. sold 980 shares of the firm’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 sale, the director owned 19,588 shares in the company, valued at approximately $2,068,101.04. This trade represents a 4.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.46% of the company’s stock.

WEC Energy Group Price Performance

WEC opened at $106.33 on Friday. The company has a quick ratio of 0.39, a current ratio of 0.53 and a debt-to-equity ratio of 1.35. The company’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 fifty-two week low of $102.95 and a fifty-two week high of $119.91. The firm has a market cap of $34.65 billion, a price-to-earnings ratio of 20.61, a price-to-earnings-growth ratio of 1.88 and a beta of 0.47.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings results 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. The business had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $2.11 billion. WEC Energy Group had a return on equity of 12.90% and a net margin of 16.69%.The business’s revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the business posted $0.76 EPS. 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 earnings per share for the current year.

WEC Energy Group Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on WEC. KeyCorp reduced their price objective on WEC Energy Group from $126.00 to $117.00 and set an “overweight” rating on the stock in a research report on Thursday, July 23rd. 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. LADENBURG THALM/SH SH lowered shares of WEC Energy Group from a “buy” rating to a “neutral” rating and set a $110.50 target price on the stock. in a report on Tuesday, August 4th. JPMorgan Chase & Co. lifted their price target on shares of WEC Energy Group from $120.00 to $124.00 and gave the stock a “neutral” rating in a report on Thursday, July 16th. Finally, BMO Capital Markets reduced their price objective on shares of WEC Energy Group from $120.00 to $117.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.91.

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.