WEC Energy Group, Inc. (NYSE:WEC) Stock Holdings Increased by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. increased its stake in WEC Energy Group by 34.9%, acquiring an additional 1,349,522 shares, bringing its total to 5,213,304 shares valued at approximately $567.7 million.
• WEC Energy Group reported a quarterly earnings per share (EPS) of $0.76, exceeding estimates of $0.71, and experienced a 13.4% revenue increase year-over-year.
• The company announced a quarterly dividend of $0.8925 per share, which results in an annualized dividend yield of 3.2%, despite a recent cut to its dividend payout ratio.

Charles Schwab Investment Management Inc. raised its stake in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 34.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,213,304 shares of the utilities provider's stock after buying an additional 1,349,522 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.63% of WEC Energy Group worth $567,727,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Hughes Financial Services LLC acquired a new stake in shares of WEC Energy Group during the first quarter worth $28,000. Opal Wealth Advisors LLC acquired a new stake in shares of WEC Energy Group during the first quarter worth $32,000. Golden State Wealth Management LLC boosted 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 purchasing an additional 245 shares during the last quarter. Creekmur Asset Management LLC boosted its holdings 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 purchasing an additional 363 shares during the last quarter. Finally, Stephens Consulting LLC boosted its holdings in shares of WEC Energy Group by 138.6% during the first quarter. Stephens Consulting LLC now owns 544 shares of the utilities provider's stock worth $59,000 after purchasing an additional 316 shares during the last quarter. Institutional investors and hedge funds own 77.20% of the company's stock.

WEC Energy Group Stock Down 0.3%

NYSE:WEC traded down $0.32 during mid-day trading on Friday, hitting $110.38. The company had a trading volume of 1,800,820 shares, compared to its average volume of 2,057,527. The business has a fifty day simple moving average of $106.33 and a 200-day simple moving average of $105.75. 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 $86.76 and a 1 year high of $111.90. The firm has a market capitalization of $35.53 billion, a price-to-earnings ratio of 21.15, a PEG ratio of 3.03 and a beta of 0.42.

WEC Energy Group (NYSE:WEC - Get Free Report) last announced its earnings results on Wednesday, July 30th. The utilities provider reported $0.76 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same period in the previous year, the company earned $0.67 earnings per share. The company's revenue for the quarter was up 13.4% compared to the same quarter last year. Equities analysts forecast that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

WEC Energy Group Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Thursday, August 14th will be given a dividend of $0.8925 per share. This represents a $3.57 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Thursday, August 14th. WEC Energy Group's payout ratio is presently 68.39%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on WEC. Scotiabank set a $115.00 price objective on WEC Energy Group and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Barclays increased their target price on WEC Energy Group from $99.00 to $101.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 29th. Wall Street Zen lowered WEC Energy Group from a "hold" rating to a "sell" rating in a research report on Saturday, July 12th. The Goldman Sachs Group lowered WEC Energy Group from a "neutral" rating to a "sell" rating and cut their target price for the stock from $106.00 to $100.00 in a research report on Wednesday, June 25th. Finally, UBS Group set a $107.00 target price on WEC Energy Group and gave the stock a "neutral" rating in a research report on Friday, July 11th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, WEC Energy Group currently has a consensus rating of "Hold" and an average target price of $106.40.

Insider Buying and Selling at WEC Energy Group

In other news, 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 transaction of $659,060.20. Following the sale, the executive vice president directly owned 6,606 shares of the company's stock, valued at approximately $734,190.84. The trade was a 47.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gale E. Klappa sold 5,960 shares of WEC Energy Group stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $110.98, for a total value of $661,440.80. Following the sale, the director directly owned 274,969 shares in the company, valued at approximately $30,516,059.62. The trade was a 2.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 59,752 shares of company stock valued at $6,610,023. 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.