Element Capital Management LLC Takes Position in WEC Energy Group, Inc. $WEC

Key Points

• Element Capital Management LLC acquired 25,778 shares of WEC Energy Group, valued at approximately $2.8 million, making it the firm's 11th largest holding.
• WEC Energy Group recently reported earnings of $0.76 per share for the last quarter, surpassing expectations, with quarterly revenue increasing by 13.4% compared to the previous year.
• The company's dividend payout ratio stands at 68.39%, with a quarterly dividend of $0.8925, reflecting a dividend yield of 3.3% for shareholders.

Element Capital Management LLC bought a new stake in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 25,778 shares of the utilities provider's stock, valued at approximately $2,809,000. WEC Energy Group accounts for approximately 0.7% of Element Capital Management LLC's investment portfolio, making the stock its 11th biggest holding.

Other hedge funds also recently modified their holdings of the company. Hughes Financial Services LLC bought a new stake in shares of WEC Energy Group in the 1st quarter worth approximately $28,000. Opal Wealth Advisors LLC bought a new position in shares of WEC Energy Group during the 1st quarter worth approximately $32,000. Golden State Wealth Management LLC raised its position in WEC Energy Group by 252.6% in the 1st quarter. Golden State Wealth Management LLC now owns 342 shares of the utilities provider's stock valued at $37,000 after purchasing an additional 245 shares during the last quarter. Creekmur Asset Management LLC raised its position in WEC Energy Group by 2,420.0% in the 1st quarter. Creekmur Asset Management LLC now owns 378 shares of the utilities provider's stock valued at $41,000 after purchasing an additional 363 shares during the last quarter. Finally, Stephens Consulting LLC raised its position in WEC Energy Group by 138.6% in the 1st quarter. Stephens Consulting LLC now owns 544 shares of the utilities provider's stock valued at $59,000 after purchasing an additional 316 shares during the last quarter. Institutional investors own 77.20% of the company's stock.

WEC Energy Group Price Performance

Shares of NYSE WEC traded up $2.0510 during mid-day trading on Tuesday, hitting $108.4410. 1,922,190 shares of the stock traded hands, compared to its average volume of 2,226,825. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.55 and a quick ratio of 0.40. WEC Energy Group, Inc. has a twelve month low of $90.19 and a twelve month high of $111.90. The company has a market cap of $34.90 billion, a PE ratio of 20.77, a price-to-earnings-growth ratio of 2.95 and a beta of 0.42. The firm has a 50 day simple moving average of $106.64 and a two-hundred day simple moving average of $106.20.

WEC Energy Group (NYSE:WEC - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $0.76 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter last year, the business posted $0.67 EPS. WEC Energy Group's revenue for the quarter 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. As a group, equities research analysts forecast that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

WEC Energy Group Cuts Dividend

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

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Scotiabank set a $115.00 target price on WEC Energy Group and gave the company an "outperform" rating in a research note on Wednesday, May 7th. The Goldman Sachs Group cut WEC Energy Group from a "neutral" rating to a "sell" rating and decreased their target price for the company from $106.00 to $100.00 in a research note on Wednesday, June 25th. Barclays boosted their price target 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. Wall Street Zen lowered WEC Energy Group from a "hold" rating to a "sell" rating in a report on Saturday, July 12th. Finally, UBS Group set a $107.00 target price on WEC Energy Group and gave the stock a "neutral" rating in a report on Friday, July 11th. 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 data from MarketBeat, WEC Energy Group presently has an average rating of "Hold" and an average price target of $106.40.

Insider Buying and Selling at WEC Energy Group

In other news, Director Gale E. Klappa sold 35,000 shares of WEC Energy Group stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $110.73, for a total value of $3,875,550.00. Following the completion of the transaction, the director directly owned 274,969 shares of the company's stock, valued at approximately $30,447,317.37. This trade represents a 11.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Scott J. Lauber sold 9,231 shares of WEC Energy Group stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 56,443 shares of the company's stock, valued at approximately $6,258,399.84. This trade represents a 14.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 68,448 shares of company stock worth $7,581,132 over the last 90 days. Company insiders own 0.50% of the company's stock.

WEC Energy Group Company 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.