Alliancebernstein L.P. Purchases 36,001 Shares of WEC Energy Group, Inc. $WEC

Key Points

• Alliancebernstein L.P. increased its stake in WEC Energy Group by 10.3%, holding a total of 384,298 shares valued at approximately $41.88 million.
• Despite recent increases in institutional holdings, analysts have mixed ratings on WEC Energy Group, with a consensus of "Hold" and a price target of $106.40.
• WEC Energy Group recently announced a quarterly dividend of $0.8925 per share, which translates to a 3.3% yield, alongside a recent earnings report showing a 13.4% revenue growth year-over-year.

Alliancebernstein L.P. lifted its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 10.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 384,298 shares of the utilities provider's stock after purchasing an additional 36,001 shares during the period. Alliancebernstein L.P. owned about 0.12% of WEC Energy Group worth $41,881,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Nuveen LLC purchased a new stake in WEC Energy Group in the 1st quarter worth about $403,372,000. GAMMA Investing LLC grew its holdings in shares of WEC Energy Group by 12,777.6% during the first quarter. GAMMA Investing LLC now owns 1,834,024 shares of the utilities provider's stock worth $199,872,000 after purchasing an additional 1,819,782 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of WEC Energy Group by 3,815.2% during the fourth quarter. Janus Henderson Group PLC now owns 1,471,096 shares of the utilities provider's stock worth $138,342,000 after purchasing an additional 1,433,522 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of WEC Energy Group by 34.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 5,213,304 shares of the utilities provider's stock worth $567,727,000 after purchasing an additional 1,349,522 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in WEC Energy Group by 16.6% in the 1st quarter. JPMorgan Chase & Co. now owns 5,103,604 shares of the utilities provider's stock worth $556,191,000 after buying an additional 726,267 shares during the last quarter. 77.20% of the stock is currently owned by institutional investors.

Insider Transactions 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 sale, the vice president directly owned 1,757 shares of the company's stock, valued at approximately $193,797.10. This trade represents a 70.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Molly A. Mulroy sold 4,030 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $110.33, for a total value of $444,629.90. Following the sale, the executive vice president directly owned 5,829 shares of the company's stock, valued at $643,113.57. This represents a 40.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 68,448 shares of company stock worth $7,581,132. 0.50% of the stock is currently owned by corporate insiders.

WEC Energy Group Stock Performance

Shares of WEC Energy Group stock traded up $0.80 during trading on Friday, hitting $110.52. 1,532,663 shares of the company's stock traded hands, compared to its average volume of 1,989,527. WEC Energy Group, Inc. has a 1 year low of $91.94 and a 1 year high of $111.90. The business has a 50-day simple moving average of $107.92 and a 200-day simple moving average of $106.84. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.55 and a quick ratio of 0.40. The stock has a market capitalization of $35.57 billion, a P/E ratio of 21.17, a PEG ratio of 3.02 and a beta of 0.44.

WEC Energy Group (NYSE:WEC - Get Free Report) last posted its earnings results on Wednesday, July 30th. The utilities provider reported $0.76 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the prior year, the company earned $0.67 earnings per share. WEC Energy Group'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 forecast that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

WEC Energy Group Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Thursday, August 14th were issued a dividend of $0.8925 per share. This represents a $3.57 annualized dividend and a yield of 3.2%. The ex-dividend date was Thursday, August 14th. WEC Energy Group's dividend payout ratio (DPR) is currently 68.39%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. UBS Group set a $107.00 target price on WEC Energy Group and gave the stock a "neutral" rating in a research report on Friday, July 11th. Wall Street Zen downgraded WEC Energy Group from a "hold" rating to a "sell" rating in a report on Saturday, July 12th. Finally, The Goldman Sachs Group lowered WEC Energy Group from a "neutral" rating to a "sell" rating and lowered their price objective for the company from $106.00 to $100.00 in a research report on Wednesday, June 25th. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $106.40.

About WEC Energy Group

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.