Belpointe Asset Management LLC Sells 7,143 Shares of WEC Energy Group, Inc. $WEC

Key Points

• Belpointe Asset Management LLC reduced its stake in WEC Energy Group by 19.3%, now holding 29,885 shares valued at approximately $3.26 million.
• CEO Scott J. Lauber and EVP Daniel Krueger both sold significant shares of the company recently, with insiders collectively selling 68,448 shares valued at over $7.58 million in the last ninety days.
• Analysts have recently downgraded WEC Energy Group's stock ratings, with UBS setting a price target of $107.00 and Goldman Sachs lowering their target to $100.00, reflecting a generally cautious outlook.

Belpointe Asset Management LLC reduced its position in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 19.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,885 shares of the utilities provider's stock after selling 7,143 shares during the period. Belpointe Asset Management LLC's holdings in WEC Energy Group were worth $3,257,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of WEC. CoreCap Advisors LLC boosted its position in shares of WEC Energy Group by 18.2% during the fourth quarter. CoreCap Advisors LLC now owns 1,306 shares of the utilities provider's stock worth $123,000 after buying an additional 201 shares during the period. Ethic Inc. boosted its position in shares of WEC Energy Group by 18.8% during the fourth quarter. Ethic Inc. now owns 15,447 shares of the utilities provider's stock worth $1,453,000 after buying an additional 2,447 shares during the period. Focus Partners Wealth boosted its position in shares of WEC Energy Group by 31.5% during the fourth quarter. Focus Partners Wealth now owns 30,022 shares of the utilities provider's stock worth $3,004,000 after buying an additional 7,200 shares during the period. Gotham Asset Management LLC boosted its position in shares of WEC Energy Group by 1.2% during the fourth quarter. Gotham Asset Management LLC now owns 83,241 shares of the utilities provider's stock worth $7,828,000 after buying an additional 982 shares during the period. Finally, Janus Henderson Group PLC boosted its position 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 buying an additional 1,433,522 shares during the period. 77.20% of the stock is owned by institutional investors and hedge funds.

WEC Energy Group Stock Performance

NYSE:WEC traded up $0.80 on Friday, hitting $110.52. The company's stock had a trading volume of 1,532,663 shares, compared to its average volume of 1,989,527. The company has a current ratio of 0.55, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28. The stock has a fifty day moving average of $107.92 and a two-hundred day moving average of $106.83. The firm has a market capitalization of $35.57 billion, a P/E ratio of 21.17, a price-to-earnings-growth ratio of 3.02 and a beta of 0.44. WEC Energy Group, Inc. has a one year low of $91.94 and a one year high of $111.90.

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, beating the consensus estimate of $0.71 by $0.05. The firm had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.87 billion. WEC Energy Group had a return on equity of 12.90% and a net margin of 17.87%.The business's revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.67 earnings per share. WEC Energy Group has set its FY 2025 guidance at 5.170-5.270 EPS. Research analysts predict 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 disclosed a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Thursday, August 14th were paid a $0.8925 dividend. The ex-dividend date was Thursday, August 14th. This represents a $3.57 annualized dividend and a yield of 3.2%. WEC Energy Group's dividend payout ratio is currently 68.39%.

Analysts Set New Price Targets

Several research firms have recently weighed in on WEC. Wall Street Zen cut WEC Energy Group from a "hold" rating to a "sell" rating in a research report on Saturday, July 12th. The Goldman Sachs Group cut WEC Energy Group from a "neutral" rating to a "sell" rating and reduced their price target for the company from $106.00 to $100.00 in a research report on Wednesday, June 25th. Finally, UBS Group set a $107.00 price target on WEC Energy Group and gave the company a "neutral" rating in a research report on Friday, July 11th. Three equities 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 company presently has a consensus rating of "Hold" and a consensus target price of $106.40.

Insider Transactions at WEC Energy Group

In other WEC Energy Group news, Director Ulice Payne, Jr. sold 1,620 shares of the company's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $111.00, for a total value of $179,820.00. Following the sale, the director owned 20,360 shares in the company, valued at $2,259,960. This represents a 7.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gale E. Klappa sold 5,960 shares of the company's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $110.98, for a total value of $661,440.80. Following the completion of the sale, the director owned 274,969 shares in the company, valued at $30,516,059.62. This represents a 2.12% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 68,448 shares of company stock valued at $7,581,132. Company insiders own 0.50% of the company's stock.

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.