WEC Energy Group, Inc. $WEC Shares Purchased by Aberdeen Group plc

Key Points

• Aberdeen Group plc has increased its stake in WEC Energy Group, Inc. by 2.4%, owning 135,939 shares valued at $14.71 million after purchasing an additional 3,143 shares.
• WEC Energy Group's quarterly earnings showed an EPS of $0.76, exceeding the estimate of $0.71, with revenue rising by 13.4% year-over-year to $2.01 billion.
• The firm has announced a quarterly dividend of $0.8925 per share, representing a 3.4% annualized yield, while the dividend payout ratio is 68.39%.

Aberdeen Group plc boosted its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 2.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 135,939 shares of the utilities provider's stock after buying an additional 3,143 shares during the quarter. Aberdeen Group plc's holdings in WEC Energy Group were worth $14,710,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Hughes Financial Services LLC purchased a new stake in shares of WEC Energy Group during the 1st quarter worth $28,000. Opal Wealth Advisors LLC acquired a new stake in WEC Energy Group in the first quarter worth about $32,000. Golden State Wealth Management LLC raised its position in shares of 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 holdings in shares of WEC Energy Group by 2,420.0% in the first quarter. Creekmur Asset Management LLC now owns 378 shares of the utilities provider's stock worth $41,000 after buying an additional 363 shares during the last quarter. Finally, Stephens Consulting LLC increased its position in shares of 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 acquiring an additional 316 shares during the period. Hedge funds and other institutional investors own 77.20% of the company's stock.

WEC Energy Group Trading Down 0.0%

Shares of NYSE WEC traded down $0.0490 during trading on Friday, hitting $108.4310. 1,324,157 shares of the company were exchanged, compared to its average volume of 2,222,846. 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 fifty day moving average price of $106.81 and a 200-day moving average price of $106.29. WEC Energy Group, Inc. has a 12-month low of $91.89 and a 12-month high of $111.90. The firm has a market capitalization of $34.90 billion, a PE ratio of 20.77, a P/E/G ratio of 2.99 and a beta of 0.42.

WEC Energy Group (NYSE:WEC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $0.76 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $1.87 billion. During the same period in the prior year, the business posted $0.67 earnings per share. The firm's revenue for the quarter was up 13.4% compared to the same quarter last year. WEC Energy Group has set its FY 2025 guidance at 5.170-5.270 EPS. As a group, equities research analysts expect that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

WEC Energy Group Cuts Dividend

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

Analyst Ratings Changes

A number of equities research analysts 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 report on Wednesday, May 7th. Wall Street Zen cut WEC Energy Group from a "hold" rating to a "sell" rating in a research report on Saturday, July 12th. Wells Fargo & Company boosted their target price on shares of WEC Energy Group from $115.00 to $124.00 and gave the company an "overweight" 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 reduced their price target for the stock from $106.00 to $100.00 in a report on Wednesday, June 25th. Finally, Barclays increased their target price on WEC Energy Group from $99.00 to $101.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 29th. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, WEC Energy Group currently has a consensus rating of "Hold" and an average price target of $106.40.

Insider Transactions at WEC Energy Group

In other news, VP Anthony Reese sold 4,177 shares of WEC Energy Group stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $110.30, for a total value of $460,723.10. Following the completion of the transaction, the vice president owned 1,757 shares in the company, valued at approximately $193,797.10. This trade represents a 70.39% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Scott J. Lauber sold 9,231 shares of the business'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 transaction 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. In the last ninety days, insiders have sold 68,448 shares of company stock valued at $7,581,132. 0.50% of the stock is owned by corporate 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.