Allspring Global Investments Holdings LLC Acquires 7,333 Shares of WEC Energy Group, Inc. $WEC

Allspring Global Investments Holdings LLC raised its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 5.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 151,575 shares of the utilities provider’s stock after buying an additional 7,333 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in WEC Energy Group were worth $17,608,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of WEC. Godfrey Financial Associates Inc. purchased a new stake in WEC Energy Group in the 4th quarter worth $25,000. Torren Management LLC bought a new position in shares of WEC Energy Group during the 4th quarter valued at about $26,000. Osterweis Capital Management Inc. purchased a new position in shares of WEC Energy Group during the second quarter valued at about $27,000. Physician Wealth Advisors Inc. grew its position in shares of WEC Energy Group by 113.9% during the first quarter. Physician Wealth Advisors Inc. now owns 246 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 131 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its stake in WEC Energy Group by 972.7% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 236 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 214 shares during the last quarter. Institutional investors own 77.20% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of WEC Energy Group in a report on Friday, June 26th. Wells Fargo & Company reiterated an “overweight” rating and set a $127.00 price objective on shares of WEC Energy Group in a research report on Tuesday, April 21st. JPMorgan Chase & Co. lifted their price objective on shares of WEC Energy Group from $120.00 to $124.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. 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 report on Monday, April 20th. Finally, Mizuho set a $124.00 price objective on WEC Energy Group in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $124.07.

WEC Energy Group Stock Performance

Shares of WEC Energy Group stock opened at $111.68 on Wednesday. WEC Energy Group, Inc. has a 52 week low of $102.95 and a 52 week high of $119.91. The company has a market capitalization of $36.38 billion, a PE ratio of 22.29, a price-to-earnings-growth ratio of 1.95 and a beta of 0.47. The stock’s fifty day moving average is $113.61 and its two-hundred day moving average is $113.36. The company has a quick ratio of 0.54, a current ratio of 0.68 and a debt-to-equity ratio of 1.36.

WEC Energy Group (NYSE:WEC) last issued its earnings results on Tuesday, May 5th. The utilities provider reported $2.45 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $3.32 billion. During the same period in the previous year, the firm earned $2.27 earnings per share. The business’s revenue 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, 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 disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be issued a dividend of $0.9525 per share. This represents a $3.81 annualized dividend and a yield of 3.4%. The ex-dividend date is Friday, August 14th. WEC Energy Group’s dividend payout ratio (DPR) is presently 76.05%.

Insiders Place Their Bets

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 stock was sold at an average price of $110.96, for a total value of $517,628.40. Following the completion of the sale, the executive vice president directly owned 7,346 shares in the company, valued at approximately $815,112.16. This represents a 38.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.46% of the stock is currently owned by company insiders.

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.