Clearstead Trust LLC Invests $2.17 Million in WEC Energy Group, Inc. $WEC

Key Points

• Clearstead Trust LLC acquired 18,600 WEC shares worth approximately $2.17 million in the second quarter. Institutional investors collectively own 77.2% of WEC Energy Group.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $121.91, although several firms recently lowered their targets. WEC opened at $110.53, below the consensus target.
• WEC reported quarterly EPS of $0.91, beating estimates of $0.80, while revenue reached $2.06 billion. The company also declared a quarterly dividend of $0.9525 per share, representing a 3.4% annualized yield.

Clearstead Trust LLC purchased a new stake in WEC Energy Group, Inc. (NYSE:WEC - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 18,600 shares of the utilities provider's stock, valued at approximately $2,172,000.

A number of other institutional investors have also recently modified their holdings of WEC. Next Capital Management LLC acquired a new position in WEC Energy Group during the second quarter worth $211,000. Mill Capital Management LLC purchased a new stake in shares of WEC Energy Group during the 2nd quarter worth $563,000. Merit Financial Group LLC boosted its position in shares of WEC Energy Group by 3.5% during the 2nd quarter. Merit Financial Group LLC now owns 78,183 shares of the utilities provider's stock worth $9,129,000 after purchasing an additional 2,609 shares in the last quarter. Diversified Trust Co. boosted its position in shares of WEC Energy Group by 3.4% during the 2nd quarter. Diversified Trust Co. now owns 6,444 shares of the utilities provider's stock worth $752,000 after purchasing an additional 212 shares in the last quarter. Finally, Rosenberg Matthew Hamilton grew its stake in shares of WEC Energy Group by 24.1% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 1,095 shares of the utilities provider's stock worth $128,000 after purchasing an additional 213 shares during the period. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at WEC Energy Group

In related news, Director Ulice Payne, Jr. sold 980 shares of WEC Energy Group stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $105.58, for a total transaction of $103,468.40. Following the completion of the transaction, the director directly owned 19,588 shares in the company, valued at $2,068,101.04. The trade was a 4.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Daniel Krueger sold 4,665 shares of the company's stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $110.96, for a total value of $517,628.40. Following the completion of the sale, the executive vice president directly owned 7,346 shares in the company, valued at approximately $815,112.16. The trade was a 38.84% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.46% of the company's stock.

Analysts Set New Price Targets

WEC has been the subject of a number of research analyst reports. Truist Financial cut their price target on shares of WEC Energy Group from $122.00 to $114.00 and set a "hold" rating for the company in a report on Thursday. BMO Capital Markets lowered their target price on shares of WEC Energy Group from $120.00 to $117.00 and set a "market perform" rating on the stock in a research report on Wednesday, July 22nd. Barclays increased their target price on shares of WEC Energy Group from $111.00 to $117.00 and gave the company an "equal weight" rating in a report on Monday, April 20th. JPMorgan Chase & Co. lifted their price target on shares of WEC Energy Group from $120.00 to $124.00 and gave the company a "neutral" rating in a research report on Thursday, July 16th. Finally, KeyCorp decreased their price target on WEC Energy Group from $126.00 to $117.00 and set an "overweight" rating on the stock in a research note on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $121.91.

WEC Energy Group Price Performance

WEC Energy Group stock opened at $110.53 on Friday. WEC Energy Group, Inc. has a 52 week low of $102.95 and a 52 week high of $119.91. The company has a quick ratio of 0.39, a current ratio of 0.53 and a debt-to-equity ratio of 1.35. The firm's 50-day simple moving average is $113.24 and its 200 day simple moving average is $113.75. The firm has a market capitalization of $36.02 billion, a PE ratio of 21.42, a P/E/G ratio of 1.91 and a beta of 0.47.

WEC Energy Group (NYSE:WEC - Get Free Report) last posted its earnings results on Wednesday, July 29th. The utilities provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.11. The firm had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $2.11 billion. WEC Energy Group had a net margin of 16.69% and a return on equity of 12.90%. The firm's revenue for the quarter was up 2.6% on a year-over-year basis. During the same period last year, the firm posted $0.76 EPS. WEC Energy Group has set its FY 2026 guidance at 5.510-5.610 EPS. On average, equities research analysts predict that WEC Energy Group, Inc. will post 5.59 EPS for the current fiscal year.

WEC Energy Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be paid a dividend of $0.9525 per share. This represents a $3.81 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Friday, August 14th. WEC Energy Group's dividend payout ratio (DPR) is 73.84%.

WEC Energy Group Company Profile

WEC Energy Group is a Milwaukee, Wisconsin–based regulated energy holding company whose primary businesses are the generation, transmission and distribution of electricity and the distribution of natural gas. The company operates through a set of utility subsidiaries that provide bundled energy service, customer billing and energy-related programs to residential, commercial and industrial customers. As a regulated utility group, WEC's operations focus on delivering reliable service while managing infrastructure investment and compliance with state and federal utility regulation.

Its utility subsidiaries include well-known regional operators such as We Energies and Wisconsin Public Service, along with Chicago-area natural gas utilities that were part of the Integrys Energy Group acquisition.

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