Why WEC Energy Group (WEC) Remains a Defensive Utility Play?

Why WEC Energy Group (WEC) Remains a Defensive Utility Play? Attiya Zainib Tue, June 2, 2026 at 11:37 PM GMT+7 3 min read WEC CL=F The Mairs & Power, an investment firm, released the first-quarter 2026 investor letter for the “Mairs & Power Balanced Fund.” A copy of the letter can be downloaded here. The fund returned -1.77% in the first quarter of 2026, outperforming its benchmark composite index decline of -2.68% as strong stock selection and exposure to Utilities and Industrials helped offset market volatility triggered by the Iran conflict and rising energy prices. The fund said inflation concerns resurfaced after Middle East tensions pushed oil prices higher, causing the Federal Reserve to adopt a more cautious stance on interest rates. Despite the uncertain backdrop, the firm maintained a constructive long-term outlook, citing resilient corporate earnings, improving small-cap trends, and attractive opportunities in reasonably valued sectors such as Utilities, Industrials, and Health Care. In addition, you can check the Fund’s top five holdings to determine its best picks for 2026.

In its first-quarter 2026 investor letter, Mairs & Power Balanced Fund highlighted stocks like WEC Energy Group, Inc. (NYSE:WEC). WEC Energy Group, Inc. (NYSE:WEC) is a utility holding company providing electric and natural gas services to customers in the Midwest. The one-month return of WEC Energy Group, Inc. (NYSE:WEC) was -4.69% while its shares traded between $102.49 and $119.62 over the last 52 weeks. On June 1, 2026, WEC Energy Group, Inc. (NYSE:WEC) stock closed at approximately $108.60 per share, with a market capitalization of about $35.37 billion.

Mairs & Power Balanced Fund stated the following regarding WEC Energy Group, Inc. (NYSE:WEC) in its Q1 2026 investor letter: