25,938 Shares in WEC Energy Group, Inc. $WEC Bought by Patton Fund Management Inc.

Key Points

• Patton Fund Management Inc. has acquired 25,938 shares of WEC Energy Group, valued at approximately $2.7 million, indicating growing interest from institutional investors.
• WEC Energy Group's stock saw a recent downgrade from analysts, with Wall Street Zen lowering its rating from "hold" to "sell", while UBS Group set a target price of $107.00.
• The company reported strong earnings, with $0.76 EPS for the last quarter compared to consensus estimates of $0.71, alongside a 13.4% year-over-year revenue increase.

Patton Fund Management Inc. acquired a new position in WEC Energy Group, Inc. (NYSE:WEC - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 25,938 shares of the utilities provider's stock, valued at approximately $2,703,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Truvestments Capital LLC purchased a new stake in WEC Energy Group during the first quarter valued at about $25,000. Nova Wealth Management Inc. bought a new position in shares of WEC Energy Group during the first quarter valued at about $26,000. Hughes Financial Services LLC bought a new position in shares of WEC Energy Group during the first quarter valued at about $28,000. Opal Wealth Advisors LLC bought a new position in shares of WEC Energy Group during the first quarter valued at about $32,000. Finally, WPG Advisers LLC bought a new position in shares of WEC Energy Group during the first quarter valued at about $35,000. Hedge funds and other institutional investors own 77.20% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on WEC shares. Wall Street Zen cut WEC Energy Group from a "hold" rating to a "sell" rating in a research note on Saturday, July 12th. UBS Group set a $107.00 target price on WEC Energy Group and gave the stock a "neutral" rating in a research note on Friday, July 11th. Finally, The Goldman Sachs Group cut WEC Energy Group from a "neutral" rating to a "sell" rating and cut their target price for the stock from $106.00 to $100.00 in a research note on Wednesday, June 25th. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, WEC Energy Group currently has an average rating of "Hold" and an average target price of $106.89.

WEC Energy Group Stock Performance

WEC Energy Group stock opened at $112.90 on Friday. The stock's 50 day simple moving average is $108.95 and its two-hundred day simple moving average is $107.13. WEC Energy Group, Inc. has a fifty-two week low of $91.94 and a fifty-two week high of $112.92. The stock has a market cap of $36.34 billion, a price-to-earnings ratio of 21.63, a PEG ratio of 3.06 and a beta of 0.44. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.40 and a current ratio of 0.55.

WEC Energy Group (NYSE:WEC - Get Free Report) last released its earnings results on Wednesday, July 30th. The utilities provider reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.05. WEC Energy Group had a net margin of 17.87% and a return on equity of 12.90%. The firm had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same period last year, the business earned $0.67 earnings per share. The business's 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. As a group, analysts expect that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

WEC Energy Group Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Thursday, August 14th were issued a $0.8925 dividend. This represents a $3.57 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Thursday, August 14th. WEC Energy Group's payout ratio is presently 68.39%.

Insider Buying and Selling

In related news, Director Gale E. Klappa sold 35,000 shares of the business's stock in a transaction that occurred on 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 transaction, the director directly owned 274,969 shares in the company, valued at $30,447,317.37. The trade was a 11.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Molly A. Mulroy sold 4,030 shares of the business's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $110.33, for a total transaction of $444,629.90. Following the completion of the transaction, the executive vice president owned 5,829 shares of the company's stock, valued at approximately $643,113.57. The trade was a 40.88% 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. 0.50% of the stock is currently owned by company 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.

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