Cubist Systematic Strategies LLC Makes New $2.16 Million Investment in WEC Energy Group, Inc. $WEC

Key Points

• Cubist Systematic Strategies LLC acquired 19,792 shares of WEC Energy Group, valued at approximately $2.16 million, indicating growing interest from institutional investors in the company.
• WEC Energy Group's recent earnings report exceeded analyst expectations, posting an EPS of $0.76 and revenue of $2.01 billion, showcasing a 13.4% year-over-year revenue increase.
• Several investment analysts have downgraded WEC Energy Group's stock ratings, with UBS Group setting a price target of $107 and Goldman Sachs lowering its rating from "neutral" to "sell" with a reduced price target of $100.

Cubist Systematic Strategies LLC bought a new stake in WEC Energy Group, Inc. (NYSE:WEC - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 19,792 shares of the utilities provider's stock, valued at approximately $2,157,000.

Other hedge funds have also recently made changes to their positions in the company. Cary Street Partners Financial LLC purchased a new position in WEC Energy Group in the 4th quarter valued at about $170,000. Captrust Financial Advisors grew its stake in shares of WEC Energy Group by 7.8% during the fourth quarter. Captrust Financial Advisors now owns 26,902 shares of the utilities provider's stock worth $2,530,000 after purchasing an additional 1,945 shares in the last quarter. CoreCap Advisors LLC lifted its position in WEC Energy Group by 18.2% in the fourth quarter. CoreCap Advisors LLC now owns 1,306 shares of the utilities provider's stock valued at $123,000 after acquiring an additional 201 shares during the last quarter. EP Wealth Advisors LLC raised its holdings in shares of WEC Energy Group by 2.1% in the fourth quarter. EP Wealth Advisors LLC now owns 6,185 shares of the utilities provider's stock valued at $582,000 after buying an additional 125 shares during the last quarter. Finally, Fiduciary Trust Co increased its stake in shares of WEC Energy Group by 17.9% during the fourth quarter. Fiduciary Trust Co now owns 9,952 shares of the utilities provider's stock worth $936,000 after acquiring an additional 1,509 shares during the period. 77.20% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. 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 company from $106.00 to $100.00 in a research report on Wednesday, June 25th. UBS Group set a $107.00 target price on shares of WEC Energy Group and gave the company a "neutral" rating in a research note on Friday, July 11th. Finally, Wall Street Zen downgraded shares of WEC Energy Group from a "hold" rating to a "sell" rating in a research note on Saturday, July 12th. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $106.40.

WEC Energy Group Price Performance

Shares of NYSE WEC traded up $0.03 during midday trading on Thursday, reaching $109.42. The company's stock had a trading volume of 1,178,912 shares, compared to its average volume of 2,203,827. The company has a 50 day moving average price of $107.69 and a 200 day moving average price of $106.76. The company has a market cap of $35.22 billion, a price-to-earnings ratio of 20.97, a price-to-earnings-growth ratio of 2.96 and a beta of 0.44. 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 one year low of $91.94 and a one year high of $111.90.

WEC Energy Group (NYSE:WEC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $0.76 EPS for the quarter, beating analysts' consensus estimates of $0.71 by $0.05. WEC Energy Group had a net margin of 17.87% and a return on equity of 12.90%. The firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the previous year, the firm posted $0.67 earnings per share. The firm's 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, equities research analysts expect that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

WEC Energy Group Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Thursday, August 14th were paid a dividend of $0.8925 per share. This represents a $3.57 annualized dividend and a yield of 3.3%. The ex-dividend date was Thursday, August 14th. WEC Energy Group's dividend payout ratio is presently 68.39%.

Insider Transactions at WEC Energy Group

In other WEC Energy Group news, Director Ulice Payne, Jr. sold 1,620 shares of the business's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $111.00, for a total value of $179,820.00. Following the sale, the director owned 20,360 shares of the company's stock, valued at $2,259,960. The trade was a 7.37% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Daniel Krueger sold 5,930 shares of the company's 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 completion of the sale, the executive vice president directly owned 6,606 shares in the company, valued at approximately $734,190.84. The trade was a 47.30% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 68,448 shares of company stock worth $7,581,132. 0.50% of the stock is currently owned by company insiders.

About WEC Energy Group

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.