Pictet Asset Management Holding SA Sells 7,684 Shares of WEC Energy Group, Inc. $WEC

Pictet Asset Management Holding SA reduced its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 1.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 474,625 shares of the utilities provider’s stock after selling 7,684 shares during the quarter. Pictet Asset Management Holding SA owned about 0.15% of WEC Energy Group worth $54,947,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. London & Capital Asset Management Ltd grew its stake in WEC Energy Group by 48.1% in the 3rd quarter. London & Capital Asset Management Ltd now owns 31,498 shares of the utilities provider’s stock valued at $3,609,000 after purchasing an additional 10,231 shares during the period. Park National Corp OH raised its stake in shares of WEC Energy Group by 4,008.6% during the 4th quarter. Park National Corp OH now owns 135,010 shares of the utilities provider’s stock worth $14,238,000 after purchasing an additional 131,724 shares during the period. Rathbones Group PLC boosted its holdings in shares of WEC Energy Group by 2.3% in the 3rd quarter. Rathbones Group PLC now owns 748,935 shares of the utilities provider’s stock worth $85,820,000 after buying an additional 16,800 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of WEC Energy Group by 26.3% in the 3rd quarter. First Trust Advisors LP now owns 754,939 shares of the utilities provider’s stock worth $86,508,000 after buying an additional 157,008 shares during the last quarter. Finally, Aventail Capital Group LP grew its position in WEC Energy Group by 20.6% during the third quarter. Aventail Capital Group LP now owns 239,884 shares of the utilities provider’s stock valued at $27,488,000 after buying an additional 40,961 shares during the period. Institutional investors own 77.20% of the company’s stock.

Insider Activity

In related news, EVP Daniel Krueger sold 4,665 shares of the stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $110.96, for a total transaction of $517,628.40. Following the sale, the executive vice president owned 7,346 shares of the company’s stock, valued at approximately $815,112.16. This represents a 38.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on WEC shares. KeyCorp raised their price objective on shares of WEC Energy Group from $117.00 to $126.00 and gave the stock an “overweight” rating in a report on Wednesday, March 4th. Wells Fargo & Company reiterated an “overweight” rating and issued a $127.00 target price on shares of WEC Energy Group in a research note on Tuesday, April 21st. JPMorgan Chase & Co. reduced their target price on shares of WEC Energy Group from $125.00 to $120.00 and set a “neutral” rating for the company in a research report on Thursday, May 14th. Truist Financial decreased their price target on shares of WEC Energy Group from $124.00 to $119.00 and set a “hold” rating for the company in a research note on Monday, May 18th. Finally, Barclays upped their price objective on WEC Energy Group from $111.00 to $117.00 and gave the company an “equal weight” rating in a research note on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, WEC Energy Group has a consensus rating of “Moderate Buy” and a consensus target price of $123.60.

WEC Energy Group Stock Performance

Shares of WEC stock opened at $118.50 on Tuesday. The firm’s 50 day moving average is $113.29 and its 200 day moving average is $112.18. The stock has a market capitalization of $38.60 billion, a P/E ratio of 23.65, a PEG ratio of 2.86 and a beta of 0.47. WEC Energy Group, Inc. has a 12 month low of $102.49 and a 12 month high of $119.62. 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 (NYSE:WEC) last released its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.15. The business had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.32 billion. WEC Energy Group had a net margin of 16.25% and a return on equity of 12.72%. WEC Energy Group’s revenue was up 9.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.27 EPS. WEC Energy Group has set its FY 2026 guidance at 5.510-5.610 EPS. On average, sell-side analysts anticipate that WEC Energy Group, Inc. will post 5.59 earnings per share for the current year.

WEC Energy Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Thursday, May 14th were paid a dividend of $0.9525 per share. This represents a $3.81 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Thursday, May 14th. WEC Energy Group’s payout ratio is presently 76.05%.

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.