CIBC Asset Management Inc Buys 30,014 Shares of WEC Energy Group, Inc. $WEC

CIBC Asset Management Inc increased its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 18.3% during the fourth quarter, HoldingsChannel reports. The fund owned 194,119 shares of the utilities provider’s stock after buying an additional 30,014 shares during the period. CIBC Asset Management Inc’s holdings in WEC Energy Group were worth $20,472,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Empowered Funds LLC grew its stake in shares of 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 buying an additional 2,417 shares in the last quarter. Woodline Partners LP raised its holdings in WEC Energy Group by 41.3% in the 1st quarter. Woodline Partners LP now owns 26,839 shares of the utilities provider’s stock valued at $2,925,000 after acquiring an additional 7,841 shares during the period. Cerity Partners LLC lifted its position in WEC Energy Group by 7.3% during the second quarter. Cerity Partners LLC now owns 44,286 shares of the utilities provider’s stock worth $4,616,000 after acquiring an additional 3,006 shares during the last quarter. Qube Research & Technologies Ltd increased its stake in shares of WEC Energy Group by 477.4% during the second quarter. Qube Research & Technologies Ltd now owns 333,552 shares of the utilities provider’s stock worth $34,756,000 after purchasing an additional 275,786 shares during the period. Finally, NewEdge Advisors LLC lifted its holdings in WEC Energy Group by 8.8% during the 2nd quarter. NewEdge Advisors LLC now owns 58,364 shares of the utilities provider’s stock worth $6,082,000 after purchasing an additional 4,730 shares during the last quarter. 77.20% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on WEC shares. 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 report on Monday, April 20th. Truist Financial dropped their target price on WEC Energy Group from $124.00 to $119.00 and set a “hold” rating for the company in a report on Monday, May 18th. Wells Fargo & Company reissued an “overweight” rating and issued a $127.00 target price on shares of WEC Energy Group in a research report on Tuesday, April 21st. Mizuho set a $124.00 price target on shares of WEC Energy Group in a research report on Wednesday, May 6th. Finally, KeyCorp lifted their price objective on shares of WEC Energy Group from $117.00 to $126.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 4th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, WEC Energy Group has an average rating of “Hold” and a consensus price target of $122.13.

Insider Transactions at WEC Energy Group

In other WEC Energy Group news, EVP Daniel Krueger sold 4,665 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 7,346 shares in the company, valued at $815,112.16. The trade was a 38.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.46% of the stock is owned by company insiders.

WEC Energy Group Stock Up 1.0%

WEC stock opened at $111.16 on Friday. WEC Energy Group, Inc. has a 52 week low of $102.49 and a 52 week high of $119.62. The business has a 50-day simple moving average of $113.96 and a 200 day simple moving average of $111.61. The company has a quick ratio of 0.54, a current ratio of 0.68 and a debt-to-equity ratio of 1.36. The company has a market cap of $36.21 billion, a PE ratio of 22.19, a price-to-earnings-growth ratio of 2.65 and a beta of 0.47.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data 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. The firm had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.32 billion. WEC Energy Group had a net margin of 16.25% and a return on equity of 12.72%. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.27 earnings per share. WEC Energy Group has set its FY 2026 guidance at 5.510-5.610 EPS. Sell-side analysts anticipate that WEC Energy Group, Inc. will post 5.59 EPS for the current fiscal year.

WEC Energy Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Thursday, May 14th were paid a $0.9525 dividend. This represents a $3.81 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend was Thursday, May 14th. WEC Energy Group’s dividend payout ratio (DPR) is 76.05%.

WEC Energy Group Company Profile

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.