Resona Asset Management Co. Ltd. Boosts Position in WEC Energy Group, Inc. $WEC

by · The Markets Daily

Resona Asset Management Co. Ltd. raised its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC – Free Report) by 9.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 140,051 shares of the utilities provider’s stock after acquiring an additional 11,611 shares during the period. Resona Asset Management Co. Ltd.’s holdings in WEC Energy Group were worth $16,206,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Empowered Funds LLC boosted its holdings in 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 stake 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 valued at $2,925,000 after buying an additional 7,841 shares during the last quarter. Cerity Partners LLC raised its stake in shares of WEC Energy Group by 7.3% during 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 during the last quarter. Qube Research & Technologies Ltd lifted its holdings in shares of WEC Energy Group by 477.4% in 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 period. Finally, NewEdge Advisors LLC lifted its holdings in shares of WEC Energy Group by 8.8% in the 2nd quarter. NewEdge Advisors LLC now owns 58,364 shares of the utilities provider’s stock valued at $6,082,000 after buying an additional 4,730 shares during the period. 77.20% of the stock is owned by hedge funds and other institutional investors.

WEC Energy Group Price Performance

Shares of WEC Energy Group stock traded up $0.20 on Friday, hitting $115.09. The company’s stock had a trading volume of 1,588,741 shares, compared to its average volume of 2,060,571. The company has a market capitalization of $37.49 billion, a price-to-earnings ratio of 22.97, a price-to-earnings-growth ratio of 2.76 and a beta of 0.47. WEC Energy Group, Inc. has a 1 year low of $102.95 and a 1 year high of $119.91. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.54 and a current ratio of 0.68. The firm has a fifty day moving average price of $113.64 and a 200-day moving average price of $112.90.

WEC Energy Group (NYSE:WEC – Get Free Report) 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 return on equity of 12.72% and a net margin of 16.25%.The company had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.32 billion. During the same quarter in the prior year, the business posted $2.27 earnings per share. WEC Energy Group’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. As a group, sell-side analysts anticipate that WEC Energy Group, Inc. will post 5.59 earnings per share for the current fiscal year.

WEC Energy Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Thursday, May 14th were given a dividend of $0.9525 per share. The ex-dividend date was Thursday, May 14th. This represents a $3.81 dividend on an annualized basis and a dividend yield of 3.3%. WEC Energy Group’s dividend payout ratio (DPR) is 76.05%.

Analysts Set New Price Targets

Several research firms recently commented on WEC. Mizuho set a $124.00 target price on WEC Energy Group in a report on Wednesday, May 6th. Barclays boosted their price target on WEC Energy Group from $111.00 to $117.00 and gave the company an “equal weight” rating in a report on Monday, April 20th. JPMorgan Chase & Co. lowered their price objective on WEC Energy Group from $125.00 to $120.00 and set a “neutral” rating on the stock in a research report on Thursday, May 14th. Wall Street Zen cut shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Sunday, May 24th. Finally, Truist Financial cut their target price on shares of WEC Energy Group from $124.00 to $119.00 and set a “hold” rating for the company in a report on Monday, May 18th. One 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 company. Based on data from MarketBeat, WEC Energy Group currently has a consensus rating of “Moderate Buy” and an average price target of $123.60.

Check Out Our Latest Report on WEC

Insider Transactions at WEC Energy Group

In related news, EVP Daniel Krueger sold 4,665 shares of WEC Energy Group stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $110.96, for a total value 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 trade represents a 38.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.46% of the company’s stock.

WEC Energy Group Profile

(Free Report)

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.

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