Bartlett & CO. Wealth Management LLC Sells 3,009 Shares of WEC Energy Group, Inc. $WEC

Key Points

• Bartlett & CO. Wealth Management LLC has reduced its stake in WEC Energy Group by 3.6%, now holding 79,957 shares worth approximately $8.3 million following the sale of 3,009 shares.
• WEC Energy Group's recent earnings report revealed $0.76 EPS, exceeding estimates, with revenue up 13.4% year-over-year, amounting to $2.01 billion.
• Multiple hedge funds are adjusting their positions in WEC Energy Group, with ORG Partners LLC increasing its holdings by 65.7% in the second quarter, and overall institutional ownership at 77.20%.

Bartlett & CO. Wealth Management LLC lowered its position in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 3.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 79,957 shares of the utilities provider's stock after selling 3,009 shares during the period. Bartlett & CO. Wealth Management LLC's holdings in WEC Energy Group were worth $8,332,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Truvestments Capital LLC bought a new stake in shares of WEC Energy Group in the first quarter worth about $25,000. Nova Wealth Management Inc. acquired a new position in shares of WEC Energy Group in the 1st quarter valued at approximately $26,000. Hughes Financial Services LLC bought a new stake in WEC Energy Group during the 1st quarter worth approximately $28,000. Opal Wealth Advisors LLC acquired a new stake in WEC Energy Group during the 1st quarter worth approximately $32,000. Finally, ORG Partners LLC raised its holdings in WEC Energy Group by 65.7% during the 2nd quarter. ORG Partners LLC now owns 328 shares of the utilities provider's stock worth $34,000 after buying an additional 130 shares during the period. Institutional investors and hedge funds own 77.20% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. UBS Group set a $107.00 price target on shares of WEC Energy Group and gave the company a "neutral" rating in a report on Friday, July 11th. The Goldman Sachs Group cut shares of WEC Energy Group from a "neutral" rating to a "sell" rating and cut their price objective for the company from $106.00 to $100.00 in a research report on Wednesday, June 25th. Finally, Wall Street Zen cut 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, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, WEC Energy Group presently has a consensus rating of "Hold" and an average price target of $106.89.

WEC Energy Group Stock Up 0.3%

WEC Energy Group stock opened at $114.56 on Wednesday. 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 company's 50-day moving average is $109.16 and its 200-day moving average is $107.27. The firm has a market capitalization of $36.87 billion, a PE ratio of 21.95, a P/E/G ratio of 3.14 and a beta of 0.44. WEC Energy Group, Inc. has a fifty-two week low of $91.94 and a fifty-two week high of $114.97.

WEC Energy Group (NYSE:WEC - Get Free Report) last issued 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 business had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same period last year, the business posted $0.67 EPS. 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. Sell-side analysts anticipate that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

WEC Energy Group Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Thursday, August 14th were paid a dividend of $0.8925 per share. This represents a $3.57 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Thursday, August 14th. WEC Energy Group's payout ratio is currently 68.39%.

Insider Buying and Selling at WEC Energy Group

In related news, VP Anthony Reese sold 4,177 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $110.30, for a total value of $460,723.10. Following the sale, the vice president owned 1,757 shares in the company, valued at approximately $193,797.10. This represents a 70.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Scott J. Lauber sold 9,231 shares of WEC Energy Group stock in a transaction 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 directly owned 56,443 shares of the company's stock, valued at approximately $6,258,399.84. This trade represents a 14.06% 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 in the last three months. 0.50% of the stock is owned by insiders.

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.

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