Dorsey & Whitney Trust CO LLC Buys 18,982 Shares of WEC Energy Group, Inc. $WEC

Key Points

• Dorsey & Whitney Trust CO LLC increased its holdings in WEC Energy Group by 188.5%, acquiring 18,982 shares during the first quarter, resulting in ownership of 29,052 shares worth approximately $3,166,000.
• WEC Energy Group reported earnings of $0.76 per share for the last quarter, exceeding analysts' expectations of $0.71, with revenues of $2.01 billion, reflecting a 13.4% year-over-year growth.
• The company announced a quarterly dividend of $0.8925, translating to an annualized payment of $3.57 and a dividend yield of 3.3%, while also projecting FY 2025 earnings per share guidance of $5.170-5.270.

Dorsey & Whitney Trust CO LLC raised its stake in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 188.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,052 shares of the utilities provider's stock after purchasing an additional 18,982 shares during the quarter. Dorsey & Whitney Trust CO LLC's holdings in WEC Energy Group were worth $3,166,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WEC. Hughes Financial Services LLC bought a new position in WEC Energy Group during the first quarter valued at about $28,000. Opal Wealth Advisors LLC acquired a new stake in WEC Energy Group during the 1st quarter worth about $32,000. Golden State Wealth Management LLC boosted its position in WEC Energy Group by 252.6% during the 1st quarter. Golden State Wealth Management LLC now owns 342 shares of the utilities provider's stock worth $37,000 after acquiring an additional 245 shares during the period. Creekmur Asset Management LLC lifted its holdings in shares of WEC Energy Group by 2,420.0% during the 1st quarter. Creekmur Asset Management LLC now owns 378 shares of the utilities provider's stock valued at $41,000 after buying an additional 363 shares during the last quarter. Finally, Stephens Consulting LLC lifted its holdings in shares of WEC Energy Group by 138.6% during the 1st quarter. Stephens Consulting LLC now owns 544 shares of the utilities provider's stock valued at $59,000 after buying an additional 316 shares during the last quarter. Hedge funds and other institutional investors own 77.20% of the company's stock.

WEC Energy Group Stock Down 0.0%

WEC Energy Group stock traded down $0.0490 during midday trading on Friday, reaching $108.4310. The stock had a trading volume of 1,324,157 shares, compared to its average volume of 2,311,168. The firm's fifty day simple moving average is $106.88 and its 200-day simple moving average is $106.35. WEC Energy Group, Inc. has a 1-year low of $91.89 and a 1-year high of $111.90. The stock has a market capitalization of $34.90 billion, a P/E ratio of 20.77, a price-to-earnings-growth ratio of 2.98 and a beta of 0.42. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.40 and a current ratio of 0.55.

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 for the quarter, topping the consensus estimate of $0.71 by $0.05. The firm had revenue of $2.01 billion for 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 quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.67 EPS. WEC Energy Group has set its FY 2025 guidance at 5.170-5.270 EPS. As a group, analysts expect that WEC Energy Group, Inc. will post 5.23 EPS 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. Investors of record on Thursday, August 14th will be issued a dividend of $0.8925 per share. The ex-dividend date of this dividend 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 payout ratio is presently 68.39%.

Analyst Ratings Changes

Several research firms recently issued reports on WEC. Barclays upped their price objective on shares of WEC Energy Group from $99.00 to $101.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 29th. The Goldman Sachs Group cut WEC Energy Group from a "neutral" rating to a "sell" rating and decreased their target price for the stock from $106.00 to $100.00 in a report on Wednesday, June 25th. Wells Fargo & Company raised their price target on WEC Energy Group from $115.00 to $124.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th. UBS Group set a $107.00 price target on WEC Energy Group and gave the company a "neutral" rating in a research note on Friday, July 11th. Finally, Wall Street Zen cut 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 assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $106.40.

Insider Buying and Selling at WEC Energy Group

In related news, VP Anthony Reese sold 4,177 shares of the business's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $110.30, for a total transaction of $460,723.10. Following the transaction, the vice president directly owned 1,757 shares of the company's stock, valued at approximately $193,797.10. The trade was a 70.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 stock was sold at an average price of $110.88, for a total value of $1,023,533.28. Following the transaction, the chief executive officer directly owned 56,443 shares in the company, valued at $6,258,399.84. The trade was a 14.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 68,448 shares of company stock worth $7,581,132 in the last three months. 0.50% of the stock is owned by 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.