Amundi Increases Stock Position in WEC Energy Group, Inc. $WEC

Key Points

• Amundi increased its stake in WEC Energy Group by 5.9%, acquiring an additional 16,093 shares, bringing its total holdings to 287,849 shares valued at approximately $31.24 million.
• Institutional investors own 77.20% of WEC Energy Group's stock, with several new investors entering positions during the first quarter, while a few insiders sold significant amounts of shares.
• WEC Energy Group's stock ratings have seen downgrades from multiple brokerages, with consensus ratings showing three buy, six hold, and one sell, as the company posted a quarterly EPS of $0.76, exceeding analyst estimates.

Amundi boosted its stake in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 5.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 287,849 shares of the utilities provider's stock after purchasing an additional 16,093 shares during the period. Amundi owned approximately 0.09% of WEC Energy Group worth $31,240,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Truvestments Capital LLC purchased a new position in shares of WEC Energy Group during the 1st quarter worth $25,000. Hughes Financial Services LLC purchased a new position in shares of WEC Energy Group during the 1st quarter worth $28,000. Opal Wealth Advisors LLC purchased a new position in shares of WEC Energy Group during the 1st quarter worth $32,000. WPG Advisers LLC purchased a new position in shares of WEC Energy Group during the 1st quarter worth $35,000. Finally, Golden State Wealth Management LLC boosted its stake in shares of WEC Energy Group by 252.6% during the 1st quarter. Golden State Wealth Management LLC now owns 342 shares of the utilities provider's stock worth $37,000 after acquiring an additional 245 shares during the last quarter. Institutional investors own 77.20% of the company's stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other news, Director Ulice Payne, Jr. sold 1,620 shares of the company's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $111.00, for a total transaction of $179,820.00. Following the sale, the director directly owned 20,360 shares in the company, valued at approximately $2,259,960. This represents a 7.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Daniel Krueger sold 5,930 shares of the company's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $111.14, for a total transaction of $659,060.20. Following the transaction, the executive vice president owned 6,606 shares in the company, valued at $734,190.84. The trade was a 47.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 68,448 shares of company stock valued at $7,581,132 in the last ninety days. Company insiders own 0.50% of the company's stock.

WEC Energy Group Price Performance

WEC stock traded up $0.46 during mid-day trading on Friday, hitting $110.18. The company had a trading volume of 376,195 shares, compared to its average volume of 2,200,781. The company has a market capitalization of $35.46 billion, a price-to-earnings ratio of 21.11, a P/E/G ratio of 3.01 and a beta of 0.44. WEC Energy Group, Inc. has a 12-month low of $91.94 and a 12-month high of $111.90. The company has a quick ratio of 0.40, a current ratio of 0.55 and a debt-to-equity ratio of 1.28. The company has a 50-day moving average price of $107.80 and a 200 day moving average price of $106.80.

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

WEC Energy Group Cuts Dividend

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

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.