Equitable Holdings Inc. Invests $1.06 Million in WEC Energy Group, Inc. $WEC

Equitable Holdings Inc. purchased a new stake in WEC Energy Group, Inc. (NYSE:WEC) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 9,122 shares of the utilities provider’s stock, valued at approximately $1,065,000.

Other large investors have also added to or reduced their stakes in the company. Empowered Funds LLC grew 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 worth $1,820,000 after purchasing an additional 2,417 shares in the last quarter. Woodline Partners LP lifted its position in WEC Energy Group by 41.3% during the first quarter. Woodline Partners LP now owns 26,839 shares of the utilities provider’s stock worth $2,925,000 after purchasing an additional 7,841 shares during the period. Cerity Partners LLC grew its stake 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 buying an additional 3,006 shares in the last quarter. Qube Research & Technologies Ltd grew its stake in 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 buying an additional 275,786 shares in the last quarter. Finally, NewEdge Advisors LLC increased its holdings in WEC Energy Group by 8.8% in the 2nd quarter. NewEdge Advisors LLC now owns 58,364 shares of the utilities provider’s stock valued at $6,082,000 after buying 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

Several equities analysts have recently commented on WEC shares. JPMorgan Chase & Co. boosted their target price 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. Wall Street Zen raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Saturday. Mizuho set a $124.00 price objective on shares of WEC Energy Group in a research report on Wednesday, May 6th. Weiss Ratings cut WEC Energy Group from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, August 5th. Finally, KeyCorp reduced their target price on WEC Energy Group from $126.00 to $117.00 and set an “overweight” rating on the stock in a report on Thursday, July 23rd. One 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 company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $121.91.

WEC Energy Group Price Performance

Shares of NYSE:WEC opened at $106.15 on Friday. WEC Energy Group, Inc. has a one year low of $102.95 and a one year high of $119.91. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.53 and a quick ratio of 0.39. The company has a market cap of $34.59 billion, a price-to-earnings ratio of 20.57, a PEG ratio of 1.84 and a beta of 0.47. The firm has a 50 day simple moving average of $112.23 and a 200 day simple moving average of $113.54.

WEC Energy Group (NYSE:WEC) last posted its earnings results on Wednesday, July 29th. The utilities provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.11. The firm had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $2.11 billion. WEC Energy Group had a net margin of 16.69% and a return on equity of 12.90%. The company’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.76 earnings per share. WEC Energy Group has set its FY 2026 guidance at 5.510-5.610 EPS. Research analysts predict 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 disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be given a dividend of $0.9525 per share. The ex-dividend date is Friday, August 14th. This represents a $3.81 dividend on an annualized basis and a yield of 3.6%. WEC Energy Group’s payout ratio is currently 73.84%.

Insiders Place Their Bets

In other WEC Energy Group news, Director Ulice Payne, Jr. sold 980 shares of the company’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $105.58, for a total value of $103,468.40. Following the completion of the transaction, the director owned 19,588 shares of the company’s stock, valued at $2,068,101.04. This represents a 4.76% decrease in their position. 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 corporate insiders.

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.