WEC Energy Group, Inc. $WEC Shares Acquired by Baird Financial Group Inc.

Key Points

• Baird Financial Group Inc. increased its holdings in WEC Energy Group by 16.3%, now owning 290,402 shares valued at approximately $31.65 million.
• WEC Energy Group reported $0.76 EPS for the last quarter, exceeding analyst estimates by $0.05, with a revenue of $2.01 billion, surpassing the consensus of $1.87 billion.
• The company declared a **quarterly dividend** of $0.8925 per share, with an annualized yield of 3.4%, and has a payout ratio of 68.39%.

Baird Financial Group Inc. raised its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 16.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 290,402 shares of the utilities provider's stock after acquiring an additional 40,686 shares during the quarter. Baird Financial Group Inc. owned approximately 0.09% of WEC Energy Group worth $31,648,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Truvestments Capital LLC purchased a new position in WEC Energy Group during the 1st quarter valued at about $25,000. Hughes Financial Services LLC purchased a new position in WEC Energy Group during the 1st quarter valued at about $28,000. Opal Wealth Advisors LLC purchased a new position in WEC Energy Group during the 1st quarter valued at about $32,000. WPG Advisers LLC acquired a new stake in shares of WEC Energy Group during the 1st quarter worth about $35,000. Finally, Golden State Wealth Management LLC grew its holdings in shares of WEC Energy Group by 252.6% during the first quarter. Golden State Wealth Management LLC now owns 342 shares of the utilities provider's stock worth $37,000 after buying an additional 245 shares in the last quarter. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at WEC Energy Group

In other news, Director Ulice Payne, Jr. sold 1,620 shares of the business's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $111.00, for a total transaction of $179,820.00. Following the transaction, the director directly owned 20,360 shares of the company's stock, valued at approximately $2,259,960. The trade was a 7.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Molly A. Mulroy sold 4,030 shares of the business's stock in a transaction 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 transaction, the executive vice president directly owned 5,829 shares in the company, 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 valued at $7,581,132 over the last quarter. Company insiders own 0.50% of the company's stock.

WEC Energy Group Trading Up 0.5%

WEC traded up $0.52 during trading on Thursday, hitting $107.41. 2,945,190 shares of the company's stock were exchanged, compared to its average volume of 2,211,765. The company has a current ratio of 0.55, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28. WEC Energy Group, Inc. has a 1 year low of $91.94 and a 1 year high of $111.90. The stock has a 50 day moving average price of $107.29 and a 200 day moving average price of $106.61. The firm has a market cap of $34.57 billion, a P/E ratio of 20.58, a price-to-earnings-growth ratio of 2.93 and a beta of 0.44.

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 (EPS) for the quarter, topping 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 company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the previous year, the firm earned $0.67 earnings per share. 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, analysts expect that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

WEC Energy Group Cuts Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. The Goldman Sachs Group downgraded shares of WEC Energy Group from a "neutral" rating to a "sell" rating and lowered their price target for the stock from $106.00 to $100.00 in a report on Wednesday, June 25th. UBS Group set a $107.00 price target on shares of WEC Energy Group and gave the stock a "neutral" rating in a report on Friday, July 11th. Scotiabank set a $115.00 price target on shares of WEC Energy Group and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Wells Fargo & Company lifted their price target on shares of WEC Energy Group from $115.00 to $124.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Finally, Wall Street Zen downgraded shares of WEC Energy Group from a "hold" rating to a "sell" rating in a report on Saturday, July 12th. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $106.40.

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.