BNP Paribas Financial Markets Grows Stock Holdings in WEC Energy Group, Inc. $WEC

Key Points

• BNP Paribas Financial Markets increased its stake in WEC Energy Group by 13.7%, owning 947,066 shares valued at approximately $103.21 million as of the latest SEC filing.
• WEC Energy Group reported $0.76 EPS for its most recent quarter, exceeding analysts' expectations of $0.71, and achieved a 13.4% year-over-year revenue increase to $2.01 billion.
• Insider trading activity included CEO Scott J. Lauber selling 9,231 shares at about $110.88 each, representing a 14.06% decrease in his ownership of the company.

BNP Paribas Financial Markets raised its position in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 13.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 947,066 shares of the utilities provider's stock after buying an additional 114,232 shares during the period. BNP Paribas Financial Markets owned about 0.30% of WEC Energy Group worth $103,211,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Truvestments Capital LLC purchased a new position in shares of WEC Energy Group during the first quarter worth $25,000. Hughes Financial Services LLC purchased a new position in shares of WEC Energy Group during the first quarter worth $28,000. Opal Wealth Advisors LLC purchased a new position in shares of WEC Energy Group during the first quarter worth $32,000. Golden State Wealth Management LLC boosted its position 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 during the period. Finally, Creekmur Asset Management LLC boosted its position in shares of WEC Energy Group by 2,420.0% during the first quarter. Creekmur Asset Management LLC now owns 378 shares of the utilities provider's stock worth $41,000 after buying an additional 363 shares during the period. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

WEC Energy Group Stock Up 0.2%

WEC Energy Group stock opened at $106.54 on Friday. WEC Energy Group, Inc. has a 1-year low of $91.89 and a 1-year high of $111.90. 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 cap of $34.29 billion, a PE ratio of 20.41, a P/E/G ratio of 2.92 and a beta of 0.42. The stock's fifty day moving average is $107.18 and its two-hundred day moving average is $106.54.

WEC Energy Group (NYSE:WEC - Get Free Report) last posted its quarterly 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 analysts' expectations of $1.87 billion. During the same period last year, the firm earned $0.67 earnings per share. WEC Energy Group's quarterly 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. On average, sell-side 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 declared a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Thursday, August 14th will be paid a $0.8925 dividend. The ex-dividend date is Thursday, August 14th. This represents a $3.57 dividend on an annualized basis and a yield of 3.4%. WEC Energy Group's dividend payout ratio (DPR) is currently 68.39%.

Insider Buying and Selling

In other news, CEO Scott J. Lauber sold 9,231 shares of WEC Energy Group stock in a transaction dated 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 sale, the chief executive officer owned 56,443 shares in the company, valued at approximately $6,258,399.84. The trade was a 14.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Daniel Krueger sold 5,930 shares of WEC Energy Group stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $111.14, for a total value of $659,060.20. Following the sale, the executive vice president owned 6,606 shares in the company, valued at $734,190.84. This trade represents a 47.30% decrease in their position. 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 90 days. 0.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

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.

Want to see what other hedge funds are holding WEC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WEC Energy Group, Inc. (NYSE:WEC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.