WEC Energy Group, Inc. $WEC Shares Sold by Caisse DE Depot ET Placement DU Quebec

Key Points

• Caisse DE Depot ET Placement DU Quebec has reduced its stake in WEC Energy Group, Inc. by 25.2%, now holding approximately 1,267,856 shares worth $138.17 million.
• WEC Energy Group reported quarterly earnings of $0.76 EPS, exceeding analysts' expectations of $0.71 and achieving a 13.4% increase in revenue compared to the same quarter of the previous year.
• The firm has recently set a quarterly dividend of $0.8925 per share, yielding 3.3%, and has a payout ratio of 68.39%.

Caisse DE Depot ET Placement DU Quebec lowered its stake in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 25.2% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 1,267,856 shares of the utilities provider's stock after selling 426,942 shares during the period. Caisse DE Depot ET Placement DU Quebec owned about 0.40% of WEC Energy Group worth $138,171,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Marcum Wealth LLC grew its holdings in WEC Energy Group by 1.3% in the first quarter. Marcum Wealth LLC now owns 7,416 shares of the utilities provider's stock valued at $808,000 after purchasing an additional 93 shares during the period. Manchester Capital Management LLC grew its holdings in WEC Energy Group by 14.3% in the first quarter. Manchester Capital Management LLC now owns 744 shares of the utilities provider's stock valued at $81,000 after purchasing an additional 93 shares during the period. Clean Yield Group grew its holdings in WEC Energy Group by 12.6% in the first quarter. Clean Yield Group now owns 867 shares of the utilities provider's stock valued at $94,000 after purchasing an additional 97 shares during the period. MJP Associates Inc. ADV grew its holdings in WEC Energy Group by 3.4% in the fourth quarter. MJP Associates Inc. ADV now owns 3,019 shares of the utilities provider's stock valued at $284,000 after purchasing an additional 98 shares during the period. Finally, Premier Path Wealth Partners LLC grew its holdings in WEC Energy Group by 3.0% in the first quarter. Premier Path Wealth Partners LLC now owns 3,335 shares of the utilities provider's stock valued at $363,000 after purchasing an additional 98 shares during the period. Institutional investors and hedge funds own 77.20% of the company's stock.

WEC Energy Group Price Performance

NYSE:WEC traded up $0.48 during trading hours on Wednesday, hitting $107.64. 1,868,379 shares of the stock were exchanged, compared to its average volume of 2,318,770. WEC Energy Group, Inc. has a 52-week low of $91.89 and a 52-week high of $111.90. The firm's fifty day moving average price is $107.08 and its 200 day moving average price is $106.48. 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 company has a market cap of $34.65 billion, a P/E ratio of 20.62, a P/E/G ratio of 2.95 and a beta of 0.42.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.71 by $0.05. The business had revenue of $2.01 billion during 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 was up 13.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.67 earnings per share. WEC Energy Group has set its FY 2025 guidance at 5.170-5.270 EPS. As a group, equities research analysts anticipate that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

WEC Energy Group Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Thursday, August 14th will be given a $0.8925 dividend. The ex-dividend date is Thursday, August 14th. This represents a $3.57 dividend on an annualized basis and a dividend yield of 3.3%. WEC Energy Group's dividend payout ratio is 68.39%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on WEC. The Goldman Sachs Group lowered WEC Energy Group from a "neutral" rating to a "sell" rating and dropped their price objective for the company from $106.00 to $100.00 in a report on Wednesday, June 25th. Scotiabank set a $115.00 price objective on WEC Energy Group and gave the company an "outperform" rating in a report on Wednesday, May 7th. Wells Fargo & Company boosted their price objective on WEC Energy Group from $115.00 to $124.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 7th. Barclays boosted their price objective on WEC Energy Group from $99.00 to $101.00 and gave the stock an "equal weight" rating in a research note on Tuesday, April 29th. Finally, UBS Group set a $107.00 price objective on WEC Energy Group and gave the stock a "neutral" rating in a research note on Friday, July 11th. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $106.40.

Insiders Place Their Bets

In other 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 completion of the sale, the director directly 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 document filed 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 of the company's stock, valued at $30,516,059.62. This trade represents a 2.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 68,448 shares of company stock valued at $7,581,132. 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.