Canada Pension Plan Investment Board Purchases New Position in WEC Energy Group, Inc. $WEC

Canada Pension Plan Investment Board acquired a new stake in WEC Energy Group, Inc. (NYSE:WEC) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 286,582 shares of the utilities provider’s stock, valued at approximately $33,464,000. Canada Pension Plan Investment Board owned 0.09% of WEC Energy Group at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of WEC. Empowered Funds LLC raised its holdings in shares of WEC Energy Group by 16.9% during the 1st 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 during the period. Woodline Partners LP boosted 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 worth $2,925,000 after acquiring an additional 7,841 shares during the period. Cerity Partners LLC grew its position in WEC Energy Group by 7.3% in the second quarter. Cerity Partners LLC now owns 44,286 shares of the utilities provider’s stock valued at $4,616,000 after acquiring an additional 3,006 shares in the last quarter. Qube Research & Technologies Ltd grew its position in WEC Energy Group by 477.4% in the second quarter. Qube Research & Technologies Ltd now owns 333,552 shares of the utilities provider’s stock valued at $34,756,000 after acquiring an additional 275,786 shares in the last quarter. Finally, NewEdge Advisors LLC raised its stake in shares of WEC Energy Group by 8.8% during the second quarter. NewEdge Advisors LLC now owns 58,364 shares of the utilities provider’s stock valued at $6,082,000 after purchasing an additional 4,730 shares during the period. Institutional investors and hedge funds own 77.20% of the company’s stock.

Wall Street Analysts Forecast Growth

WEC has been the topic of a number of recent research reports. BMO Capital Markets reduced their target price on shares of WEC Energy Group from $120.00 to $117.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 22nd. Mizuho set a $124.00 price target on shares of WEC Energy Group in a report on Wednesday, May 6th. Truist Financial dropped their price target on shares of WEC Energy Group from $122.00 to $114.00 and set a “hold” rating on the stock in a research note on Thursday, August 13th. LADENBURG THALM/SH SH lowered shares of WEC Energy Group from a “buy” rating to a “neutral” rating and set a $110.50 price objective on the stock. in a report on Tuesday, August 4th. Finally, JPMorgan Chase & Co. upped their price objective on shares of WEC Energy Group from $120.00 to $124.00 and gave the company a “neutral” rating in a research report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $121.91.

WEC Energy Group Stock Performance

Shares of WEC Energy Group stock opened at $106.29 on Friday. The firm has a market cap of $34.64 billion, a PE ratio of 20.60, a price-to-earnings-growth ratio of 1.86 and a beta of 0.47. The firm’s 50-day simple moving average is $112.36 and its 200-day simple moving average is $113.59. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.39 and a current ratio of 0.53. WEC Energy Group, Inc. has a 1 year low of $102.95 and a 1 year high of $119.91.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data on Wednesday, July 29th. The utilities provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.11. WEC Energy Group had a return on equity of 12.90% and a net margin of 16.69%.The firm had revenue of $2.06 billion during the quarter, compared to analyst estimates of $2.11 billion. During the same period in the previous year, the company earned $0.76 earnings per share. WEC Energy Group’s quarterly revenue was up 2.6% on a year-over-year basis. WEC Energy Group has set its FY 2026 guidance at 5.510-5.610 EPS. Equities analysts forecast that WEC Energy Group, Inc. will post 5.59 earnings per share for the current fiscal year.

WEC Energy Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be issued a $0.9525 dividend. This represents a $3.81 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Friday, August 14th. WEC Energy Group’s payout ratio is 73.84%.

Insider Buying and Selling at WEC Energy Group

In related news, Director Ulice Payne, Jr. sold 980 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $105.58, for a total transaction of $103,468.40. Following the sale, the director directly owned 19,588 shares of the company’s stock, valued at approximately $2,068,101.04. This represents a 4.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.46% of the company’s stock.

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.