WEC Energy Group, Inc. $WEC Shares Acquired by DAVENPORT & Co LLC

DAVENPORT & Co LLC boosted its position in WEC Energy Group, Inc. (NYSE:WEC) by 9.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 53,764 shares of the utilities provider’s stock after purchasing an additional 4,817 shares during the quarter. DAVENPORT & Co LLC’s holdings in WEC Energy Group were worth $5,670,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CoreFirst Bank & Trust acquired a new stake in shares of WEC Energy Group during the 2nd quarter worth about $26,000. Osterweis Capital Management Inc. purchased a new stake in shares of WEC Energy Group during the second quarter worth about $27,000. Harbor Investment Advisory LLC raised its position in shares of WEC Energy Group by 256.4% in the fourth quarter. Harbor Investment Advisory LLC now owns 278 shares of the utilities provider’s stock valued at $29,000 after buying an additional 200 shares during the last quarter. Salomon & Ludwin LLC acquired a new position in shares of WEC Energy Group in the third quarter valued at approximately $30,000. Finally, GoalVest Advisory LLC lifted its stake in shares of WEC Energy Group by 54.7% during the fourth quarter. GoalVest Advisory LLC now owns 294 shares of the utilities provider’s stock valued at $31,000 after buying an additional 104 shares during the period. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at WEC Energy Group

In related news, CEO Scott J. Lauber sold 8,089 shares of the stock in a transaction on Monday, February 9th. The stock was sold at an average price of $110.70, for a total value of $895,452.30. Following the completion of the sale, the chief executive officer directly owned 66,801 shares in the company, valued at approximately $7,394,870.70. This represents a 10.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ulice Payne, Jr. sold 1,450 shares of the firm’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $114.60, for a total value of $166,170.00. Following the completion of the transaction, the director directly owned 20,541 shares in the company, valued at $2,353,998.60. This trade represents a 6.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 42,354 shares of company stock worth $4,855,505. Insiders own 0.50% of the company’s stock.

WEC Energy Group Stock Up 1.2%

WEC opened at $114.08 on Friday. WEC Energy Group, Inc. has a 1 year low of $100.61 and a 1 year high of $118.53. The firm has a 50 day moving average price of $113.47 and a 200 day moving average price of $111.26. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.44 and a current ratio of 0.59. The company has a market cap of $37.13 billion, a PE ratio of 23.62, a price-to-earnings-growth ratio of 2.71 and a beta of 0.58.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings results on Thursday, February 5th. The utilities provider reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. WEC Energy Group had a net margin of 15.90% and a return on equity of 12.40%. The firm had revenue of $2.54 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same period in the previous year, the company posted $1.43 earnings per share. WEC Energy Group’s revenue was down 8.8% compared to the same quarter last year. WEC Energy Group has set its FY 2026 guidance at 5.510-5.610 EPS. Sell-side analysts expect that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

Wall Street Analyst Weigh In

WEC has been the topic of a number of analyst reports. BMO Capital Markets restated a “market perform” rating and set a $121.00 target price on shares of WEC Energy Group in a research report on Friday, February 6th. Jefferies Financial Group cut their price target on WEC Energy Group from $124.00 to $121.00 and set a “hold” rating for the company in a report on Wednesday, January 28th. Barclays increased their price target on WEC Energy Group from $110.00 to $111.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Bank of America set a $116.00 price objective on WEC Energy Group in a research report on Wednesday, December 31st. Finally, Mizuho upped their target price on WEC Energy Group from $117.00 to $121.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $120.73.

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.