Hsbc Holdings PLC Buys 42,083 Shares of WEC Energy Group, Inc. $WEC

Hsbc Holdings PLC raised its stake in WEC Energy Group, Inc. (NYSE:WEC) by 7.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 579,000 shares of the utilities provider’s stock after buying an additional 42,083 shares during the period. Hsbc Holdings PLC owned about 0.18% of WEC Energy Group worth $61,091,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Godfrey Financial Associates Inc. bought a new stake in shares of WEC Energy Group during the fourth quarter valued at approximately $25,000. Torren Management LLC bought a new position in WEC Energy Group in the fourth quarter worth approximately $26,000. Osterweis Capital Management Inc. bought a new position in WEC Energy Group in the second quarter worth approximately $27,000. Cornerstone Planning Group LLC increased its holdings in WEC Energy Group by 2,400.0% during the 4th quarter. Cornerstone Planning Group LLC now owns 275 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 264 shares during the period. Finally, Harbor Investment Advisory LLC increased its holdings in WEC Energy Group by 256.4% during the 4th quarter. Harbor Investment Advisory LLC now owns 278 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 200 shares during the period. 77.20% of the stock is currently owned by institutional investors.

WEC Energy Group Stock Up 0.7%

Shares of NYSE WEC opened at $112.97 on Tuesday. WEC Energy Group, Inc. has a 12-month low of $102.49 and a 12-month high of $119.62. The stock’s fifty day simple moving average is $113.23 and its two-hundred day simple moving average is $111.78. The stock has a market capitalization of $36.80 billion, a PE ratio of 22.55, a price-to-earnings-growth ratio of 2.70 and a beta of 0.47. The company has a current ratio of 0.68, a quick ratio of 0.54 and a debt-to-equity ratio of 1.36.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $2.45 earnings per share 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 firm had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.32 billion. During the same period in the prior year, the business posted $2.27 EPS. The firm’s quarterly 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 EPS for the current fiscal year.

WEC Energy Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Thursday, May 14th were given a dividend of $0.9525 per share. This represents a $3.81 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend was Thursday, May 14th. WEC Energy Group’s dividend payout ratio is presently 76.05%.

Insider Buying and Selling at WEC Energy Group

In other news, EVP Daniel Krueger sold 4,665 shares of the firm’s stock in a transaction dated 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 directly owned 7,346 shares in the company, valued at approximately $815,112.16. This trade represents a 38.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Truist Financial lowered 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 restated an “overweight” rating and set a $127.00 price target on shares of WEC Energy Group in a research note on Tuesday, April 21st. Barclays lifted 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. Mizuho set a $124.00 price objective on shares of WEC Energy Group in a research note on Wednesday, May 6th. Finally, KeyCorp raised their target price on shares of WEC Energy Group from $117.00 to $126.00 and gave the company an “overweight” rating in a research report on Wednesday, March 4th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, WEC Energy Group has an average rating of “Hold” and a consensus price target of $122.12.

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.