Mitsubishi UFJ Asset Management Co. Ltd. Purchases 24,805 Shares of WEC Energy Group, Inc. $WEC

Mitsubishi UFJ Asset Management Co. Ltd. increased its position in WEC Energy Group, Inc. (NYSE:WEC) by 4.1% in the third quarter, HoldingsChannel reports. The firm owned 636,134 shares of the utilities provider’s stock after purchasing an additional 24,805 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in WEC Energy Group were worth $72,895,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Empowered Funds LLC lifted its position in WEC Energy Group by 16.9% during 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 during the period. Woodline Partners LP grew its position in shares of 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 buying an additional 7,841 shares during the period. Brighton Jones LLC increased its stake in shares of WEC Energy Group by 6.8% in the 2nd quarter. Brighton Jones LLC now owns 2,339 shares of the utilities provider’s stock worth $244,000 after acquiring an additional 149 shares in the last quarter. Teacher Retirement System of Texas lifted its position in WEC Energy Group by 26.8% during the 2nd quarter. Teacher Retirement System of Texas now owns 58,638 shares of the utilities provider’s stock valued at $6,110,000 after acquiring an additional 12,391 shares during the period. Finally, Howard Capital Management Inc. bought a new stake in WEC Energy Group during the second quarter worth about $208,000. 77.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Scotiabank upped their price objective on shares of WEC Energy Group from $129.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. Weiss Ratings restated a “buy (b)” rating on shares of WEC Energy Group in a research note on Monday, December 29th. Jefferies Financial Group reduced their price objective on WEC Energy Group from $124.00 to $121.00 and set a “hold” rating for the company in a research report on Wednesday, January 28th. Mizuho boosted their target price on WEC Energy Group from $117.00 to $121.00 and gave the stock an “outperform” rating in a report on Friday, February 6th. Finally, JPMorgan Chase & Co. increased their target price on WEC Energy Group from $113.00 to $115.00 and gave the stock a “neutral” rating in a research note on Thursday, January 15th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $120.07.

WEC Energy Group Price Performance

Shares of NYSE WEC opened at $116.88 on Friday. The firm has a market cap of $38.05 billion, a P/E ratio of 24.20, a PEG ratio of 2.78 and a beta of 0.58. WEC Energy Group, Inc. has a twelve month low of $100.61 and a twelve month high of $118.18. The company has a quick ratio of 0.44, a current ratio of 0.59 and a debt-to-equity ratio of 1.35. The company has a 50 day moving average of $109.85 and a 200 day moving average of $110.26.

WEC Energy Group (NYSE:WEC) last posted its earnings results on Thursday, February 5th. The utilities provider reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. WEC Energy Group had a return on equity of 12.40% and a net margin of 15.90%.The business had revenue of $2.54 billion during the quarter, compared to analyst estimates of $2.19 billion. During the same quarter last year, the company earned $1.43 EPS. The company’s quarterly revenue was down 8.8% compared to the same quarter last year. WEC Energy Group has set its FY 2026 guidance at 5.510-5.610 EPS. As a group, research analysts expect that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

WEC Energy Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Friday, February 13th will be issued a $0.9525 dividend. This represents a $3.81 annualized dividend and a yield of 3.3%. The ex-dividend date is Friday, February 13th. This is a positive change from WEC Energy Group’s previous quarterly dividend of $0.89. WEC Energy Group’s dividend payout ratio is 78.88%.

Insiders Place Their Bets

In other news, Director Gale E. Klappa sold 25,000 shares of WEC Energy Group stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $115.44, for a total value of $2,886,000.00. Following the completion of the sale, the director directly owned 276,600 shares in the company, valued at $31,930,704. The trade was a 8.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ulice Payne, Jr. sold 1,450 shares of the business’s stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $114.60, for a total transaction of $166,170.00. Following the transaction, the director directly owned 20,541 shares of the company’s stock, valued at $2,353,998.60. The trade was a 6.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 42,354 shares of company stock worth $4,855,505 in the last 90 days. Corporate insiders own 0.50% 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.