Assenagon Asset Management S.A. Has $700,000 Holdings in WEC Energy Group, Inc. $WEC

Assenagon Asset Management S.A. decreased its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 96.9% during the first quarter, HoldingsChannel.com reports. The fund owned 6,043 shares of the utilities provider’s stock after selling 189,641 shares during the period. Assenagon Asset Management S.A.’s holdings in WEC Energy Group were worth $700,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Park National Corp OH grew its holdings in WEC Energy Group by 4,008.6% in the 4th quarter. Park National Corp OH now owns 135,010 shares of the utilities provider’s stock valued at $14,238,000 after buying an additional 131,724 shares during the last quarter. Rathbones Group PLC grew its stake 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 valued at $85,820,000 after purchasing an additional 16,800 shares during the period. First Trust Advisors LP raised its stake in WEC Energy Group by 26.3% during the third quarter. First Trust Advisors LP now owns 754,939 shares of the utilities provider’s stock worth $86,508,000 after acquiring an additional 157,008 shares in the last quarter. Aventail Capital Group LP lifted its holdings in WEC Energy Group by 20.6% during the 3rd quarter. Aventail Capital Group LP now owns 239,884 shares of the utilities provider’s stock valued at $27,488,000 after purchasing an additional 40,961 shares during the last quarter. Finally, Mairs & Power Inc. boosted its holdings in shares of WEC Energy Group by 20.2% in the 3rd quarter. Mairs & Power Inc. now owns 1,793,851 shares of the utilities provider’s stock worth $205,557,000 after acquiring an additional 301,323 shares in the last quarter. Institutional investors and hedge funds own 77.20% of the company’s stock.

Insider Buying and Selling

In other WEC Energy Group news, EVP Daniel Krueger sold 4,665 shares of the company’s stock in a transaction on Tuesday, May 19th. The shares were 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.46% of the company’s stock.

WEC Energy Group Stock Performance

NYSE:WEC opened at $118.69 on Friday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.54 and a current ratio of 0.68. WEC Energy Group, Inc. has a fifty-two week low of $102.51 and a fifty-two week high of $119.62. The company has a 50 day simple moving average of $113.43 and a two-hundred day simple moving average of $112.46. The company has a market capitalization of $38.66 billion, a PE ratio of 23.69, a P/E/G ratio of 2.79 and a beta of 0.47.

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, topping analysts’ consensus estimates of $2.30 by $0.15. WEC Energy Group had a net margin of 16.25% and a return on equity of 12.72%. The firm had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.32 billion. During the same quarter in the previous year, the company earned $2.27 EPS. The company’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 anticipate 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 was paid on Monday, June 1st. Investors of record on Thursday, May 14th were issued a $0.9525 dividend. The ex-dividend date was Thursday, May 14th. This represents a $3.81 annualized dividend and a yield of 3.2%. WEC Energy Group’s payout ratio is presently 76.05%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. dropped their target price on 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. Weiss Ratings restated a “buy (b)” rating on shares of WEC Energy Group in a report on Friday, June 26th. Wall Street Zen cut shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Sunday, May 24th. Truist Financial reduced their price objective 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, Wells Fargo & Company reiterated an “overweight” rating and set a $127.00 target price on shares of WEC Energy Group in a report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $123.60.

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.