Charter Capital Management LLC DE Takes $942,000 Position in WEC Energy Group, Inc. $WEC

Key Points

• Charter Capital Management LLC DE acquired a new position in WEC Energy Group, worth approximately $942,000, during the second quarter, representing 0.6% of their investment portfolio.
• Several institutional investors, including Revisor Wealth Management LLC and CHICAGO TRUST Co NA, also made new purchases or increased their holdings in WEC Energy Group during the same period, with over 77.20% of the stock owned by institutional investors.
• The company's stock was recently cut from a "hold" to a "sell" rating by Wall Street analysts, with a new price target of $100.00, reflecting a cautious outlook on its performance.

Charter Capital Management LLC DE acquired a new stake in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 9,043 shares of the utilities provider's stock, valued at approximately $942,000. WEC Energy Group makes up about 0.6% of Charter Capital Management LLC DE's investment portfolio, making the stock its 19th largest position.

Several other institutional investors also recently bought and sold shares of the company. Revisor Wealth Management LLC acquired a new stake in WEC Energy Group in the second quarter valued at approximately $404,000. Hoey Investments Inc. purchased a new position in shares of WEC Energy Group during the second quarter worth $44,000. CHICAGO TRUST Co NA raised its holdings in shares of WEC Energy Group by 34.8% during the second quarter. CHICAGO TRUST Co NA now owns 7,613 shares of the utilities provider's stock worth $793,000 after purchasing an additional 1,965 shares during the last quarter. Gries Financial LLC increased its holdings in WEC Energy Group by 6.2% in the second quarter. Gries Financial LLC now owns 18,547 shares of the utilities provider's stock valued at $1,933,000 after buying an additional 1,075 shares in the last quarter. Finally, Golden State Equity Partners increased its holdings in WEC Energy Group by 6.5% in the second quarter. Golden State Equity Partners now owns 3,676 shares of the utilities provider's stock valued at $383,000 after buying an additional 224 shares in the last quarter. 77.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on WEC. Wall Street Zen cut shares of WEC Energy Group from a "hold" rating to a "sell" rating in a research note on Saturday, July 12th. The Goldman Sachs Group lowered shares of WEC Energy Group from a "neutral" rating to a "sell" rating and lowered their price target for the stock from $106.00 to $100.00 in a research report on Wednesday, June 25th. Finally, UBS Group set a $107.00 price target on shares of WEC Energy Group and gave the stock a "neutral" rating in a research report on Friday, July 11th. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $106.89.

Insider Buying and Selling

In other WEC Energy Group news, EVP Molly A. Mulroy sold 4,030 shares of the business's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $110.33, for a total value of $444,629.90. Following the transaction, the executive vice president directly owned 5,829 shares in the company, valued at $643,113.57. The trade was a 40.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Scott J. Lauber sold 9,231 shares of the business's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $110.88, for a total transaction of $1,023,533.28. Following the completion of the sale, the chief executive officer directly owned 56,443 shares in the company, valued at $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 a total of 68,448 shares of company stock worth $7,581,132 over the last ninety days. 0.50% of the stock is currently owned by insiders.

WEC Energy Group Stock Performance

NYSE:WEC opened at $111.62 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 firm has a market capitalization of $35.93 billion, a price-to-earnings ratio of 21.38, a PEG ratio of 3.02 and a beta of 0.44. The company's 50-day moving average is $108.64 and its two-hundred day moving average is $107.03. WEC Energy Group, Inc. has a 1-year low of $91.94 and a 1-year high of $111.90.

WEC Energy Group (NYSE:WEC - Get Free Report) last posted its earnings results on Wednesday, July 30th. The utilities provider reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.05. The company had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.87 billion. WEC Energy Group had a net margin of 17.87% and a return on equity of 12.90%. WEC Energy Group's revenue was up 13.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.67 EPS. WEC Energy Group has set its FY 2025 guidance at 5.170-5.270 EPS. Analysts forecast that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

WEC Energy Group Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Thursday, August 14th were issued a $0.8925 dividend. This represents a $3.57 annualized dividend and a yield of 3.2%. The ex-dividend date was Thursday, August 14th. WEC Energy Group's payout ratio is presently 68.39%.

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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