WEC Energy Group, Inc. $WEC Stock Holdings Boosted by 1832 Asset Management L.P.

Key Points

• 1832 Asset Management L.P. increased its stake in WEC Energy Group by 72.0%, acquiring an additional 100,847 shares, which brought their total ownership to 240,997 shares valued at approximately $26.26 million.
• WEC Energy Group reported a $0.76 EPS for the recent quarter, surpassing analysts' expectations of $0.71, with revenue increasing by 13.4% year-over-year to $2.01 billion.
• The company has announced a quarterly dividend of $0.8925 per share, reflecting an annualized dividend yield of 3.3%, with the ex-dividend date set for August 14th.

1832 Asset Management L.P. raised its holdings in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 72.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 240,997 shares of the utilities provider's stock after purchasing an additional 100,847 shares during the quarter. 1832 Asset Management L.P. owned 0.08% of WEC Energy Group worth $26,264,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Horizon Investment Services LLC acquired a new stake in shares of WEC Energy Group during the 1st quarter valued at approximately $379,000. Los Angeles Capital Management LLC lifted its position in shares of WEC Energy Group by 2,964.9% during the 1st quarter. Los Angeles Capital Management LLC now owns 108,651 shares of the utilities provider's stock valued at $11,841,000 after acquiring an additional 105,106 shares during the period. AustralianSuper Pty Ltd purchased a new position in WEC Energy Group during the 1st quarter valued at about $10,333,000. Sowell Financial Services LLC acquired a new position in WEC Energy Group during the first quarter worth about $325,000. Finally, CWA Asset Management Group LLC lifted its holdings in shares of WEC Energy Group by 5.6% in the first quarter. CWA Asset Management Group LLC now owns 2,947 shares of the utilities provider's stock valued at $321,000 after purchasing an additional 157 shares in the last quarter. Hedge funds and other institutional investors own 77.20% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on WEC. UBS Group set a $107.00 price objective on WEC Energy Group and gave the company a "neutral" rating in a research note on Friday, July 11th. Barclays lifted their target price on WEC Energy Group from $99.00 to $101.00 and gave the company an "equal weight" rating in a report on Tuesday, April 29th. Scotiabank set a $115.00 price target on WEC Energy Group and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Wall Street Zen cut WEC Energy Group from a "hold" rating to a "sell" rating in a report on Saturday, July 12th. Finally, The Goldman Sachs Group downgraded shares of WEC Energy Group from a "neutral" rating to a "sell" rating and dropped their target price for the stock from $106.00 to $100.00 in a research report on Wednesday, June 25th. Three investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, WEC Energy Group currently has a consensus rating of "Hold" and a consensus price target of $106.40.

Insider Activity

In other news, Director Gale E. Klappa sold 35,000 shares of the business's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $110.73, for a total value of $3,875,550.00. Following the completion of the sale, the director owned 274,969 shares of the company's stock, valued at approximately $30,447,317.37. The trade was a 11.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Anthony Reese sold 4,177 shares of the business's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $110.30, for a total transaction of $460,723.10. Following the completion of the sale, the vice president directly owned 1,757 shares of the company's stock, valued at $193,797.10. The trade was a 70.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 68,448 shares of company stock worth $7,581,132 over the last ninety days. Insiders own 0.50% of the company's stock.

WEC Energy Group Stock Up 0.4%

Shares of NYSE:WEC traded up $0.48 during midday trading on Wednesday, hitting $107.64. 1,868,379 shares of the company's stock traded hands, compared to its average volume of 2,216,690. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.40 and a current ratio of 0.55. The company has a market cap of $34.65 billion, a PE ratio of 20.62, a P/E/G ratio of 2.94 and a beta of 0.42. The firm's fifty day moving average price is $107.00 and its two-hundred day moving average price is $106.47. WEC Energy Group, Inc. has a twelve month low of $91.89 and a twelve month high of $111.90.

WEC Energy Group (NYSE:WEC - Get Free Report) last announced its earnings results on Wednesday, July 30th. The utilities provider reported $0.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.71 by $0.05. The business had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.87 billion. WEC Energy Group had a return on equity of 12.90% and a net margin of 17.87%.The company's revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.67 earnings per share. WEC Energy Group has set its FY 2025 guidance at 5.170-5.270 EPS. On average, equities research analysts anticipate that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

WEC Energy Group Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Thursday, August 14th will be issued a $0.8925 dividend. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $3.57 annualized dividend and a yield of 3.3%. WEC Energy Group's dividend payout ratio is currently 68.39%.

WEC Energy Group Profile

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and renewable and nonregulated renewable energy services in the United States. It operates through Wisconsin, Illinois, Other States, Electric Transmission, and Non-Utility Energy Infrastructure segments.