23,400 Shares in WEC Energy Group, Inc. $WEC Acquired by Point72 Europe London LLP

Key Points

• Point72 Europe London LLP acquired 23,400 shares of WEC Energy Group, valued at approximately $2.55 million, indicating growing institutional interest in the company.
• WEC Energy Group reported a 13.4% year-over-year revenue increase for the last quarter, with earnings per share exceeding estimates at $0.76.
• The company cut its dividend to $0.8925 per share, showing a payout ratio of 68.39%, as it continues to adapt to market conditions.

Point72 Europe London LLP bought a new position in WEC Energy Group, Inc. (NYSE:WEC - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 23,400 shares of the utilities provider's stock, valued at approximately $2,550,000.

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

WEC Energy Group Stock Performance

Shares of WEC stock traded down $0.51 during mid-day trading on Tuesday, reaching $106.00. The stock had a trading volume of 1,835,380 shares, compared to its average volume of 1,982,644. The firm's 50 day simple moving average is $107.21 and its 200 day simple moving average is $106.61. The company has a quick ratio of 0.40, a current ratio of 0.55 and a debt-to-equity ratio of 1.28. WEC Energy Group, Inc. has a one year low of $91.94 and a one year high of $111.90. The firm has a market cap of $34.12 billion, a PE ratio of 20.31, a P/E/G ratio of 2.93 and a beta of 0.44.

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

WEC Energy Group Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Thursday, August 14th were given a dividend of $0.8925 per share. This represents a $3.57 annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Thursday, August 14th. WEC Energy Group's dividend payout ratio (DPR) is 68.39%.

Analyst Ratings Changes

A number of analysts have issued reports on WEC shares. Wall Street Zen lowered WEC Energy Group from a "hold" rating to a "sell" rating in a report on Saturday, July 12th. Wells Fargo & Company raised their target price on WEC Energy Group from $115.00 to $124.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th. The Goldman Sachs Group lowered WEC Energy Group from a "neutral" rating to a "sell" rating and lowered their target price for the company from $106.00 to $100.00 in a report on Wednesday, June 25th. UBS Group set a $107.00 target price on WEC Energy Group and gave the company a "neutral" rating in a report on Friday, July 11th. Finally, Scotiabank set a $115.00 target price on WEC Energy Group and gave the company an "outperform" rating in a report on Wednesday, May 7th. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $106.40.

Insider Buying and Selling at WEC Energy Group

In related news, VP Anthony Reese sold 4,177 shares of the firm's stock in a transaction that occurred on 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 transaction, the vice president owned 1,757 shares in the company, valued at $193,797.10. This trade represents a 70.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Scott J. Lauber sold 9,231 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $110.88, for a total value of $1,023,533.28. Following the transaction, the chief executive officer owned 56,443 shares of the company's stock, valued at $6,258,399.84. This trade represents a 14.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 68,448 shares of company stock worth $7,581,132 over the last three months. 0.50% of the stock is currently owned by insiders.

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.