Pictet Asset Management Holding SA Sells 7,684 Shares of WEC Energy Group, Inc. $WEC

Pictet Asset Management Holding SA reduced its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 1.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 474,625 shares of the utilities provider’s stock after selling 7,684 shares during the period. Pictet Asset Management Holding SA’s holdings in WEC Energy Group were worth $54,947,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in WEC. Pure Financial Advisors LLC raised its position in shares of WEC Energy Group by 3.9% in the fourth quarter. Pure Financial Advisors LLC now owns 2,319 shares of the utilities provider’s stock worth $245,000 after buying an additional 86 shares in the last quarter. Inscription Capital LLC grew its position in WEC Energy Group by 4.7% during the fourth quarter. Inscription Capital LLC now owns 2,036 shares of the utilities provider’s stock worth $215,000 after buying an additional 91 shares in the last quarter. Moors & Cabot Inc. grew its position in WEC Energy Group by 1.7% during the third quarter. Moors & Cabot Inc. now owns 5,511 shares of the utilities provider’s stock worth $632,000 after buying an additional 93 shares in the last quarter. Matrix Trust Co increased its stake in WEC Energy Group by 0.7% in the 4th quarter. Matrix Trust Co now owns 14,300 shares of the utilities provider’s stock worth $1,508,000 after acquiring an additional 95 shares during the last quarter. Finally, State of Wyoming increased its stake in WEC Energy Group by 5.7% in the 2nd quarter. State of Wyoming now owns 1,762 shares of the utilities provider’s stock worth $184,000 after acquiring an additional 95 shares during the last quarter. Institutional investors own 77.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Wall Street Zen downgraded WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Sunday, May 24th. Barclays upped their price objective on shares of WEC Energy Group from $111.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Monday, April 20th. Wells Fargo & Company reiterated an “overweight” rating and set a $127.00 target price on shares of WEC Energy Group in a research report on Tuesday, April 21st. KeyCorp boosted their price target 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. Finally, JPMorgan Chase & Co. decreased their price target on shares of WEC Energy Group from $125.00 to $120.00 and set a “neutral” rating on the stock in a report on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, WEC Energy Group currently has an average rating of “Moderate Buy” and a consensus target price of $123.60.

Insider Transactions at WEC Energy Group

In other WEC Energy Group news, EVP Daniel Krueger sold 4,665 shares of the company’s stock in a transaction dated 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 sale, the executive vice president directly owned 7,346 shares in the company, valued at $815,112.16. This represents a 38.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.46% of the stock is currently owned by insiders.

WEC Energy Group Stock Down 0.3%

Shares of NYSE WEC opened at $118.50 on Tuesday. The stock has a market capitalization of $38.60 billion, a P/E ratio of 23.65, a PEG ratio of 2.86 and a beta of 0.47. WEC Energy Group, Inc. has a one year low of $102.49 and a one year high of $119.62. The firm’s 50 day simple moving average is $113.29 and its two-hundred day simple moving average is $112.18. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.68 and a quick ratio of 0.54.

WEC Energy Group (NYSE:WEC) last announced 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 net margin of 16.25% and a return on equity of 12.72%. The firm had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.32 billion. During the same period in the previous year, the business posted $2.27 EPS. The business’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 firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Thursday, May 14th were paid a $0.9525 dividend. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $3.81 annualized dividend and a yield of 3.2%. WEC Energy Group’s payout ratio is currently 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.