Fiduciary Alliance LLC Increases Stock Holdings in WEC Energy Group, Inc. $WEC

Key Points

• Fiduciary Alliance LLC increased its stake in WEC Energy Group by 54.6%, holding 14,562 shares worth approximately $1.5 million at the end of the second quarter.
• Insider transactions included Director Gale E. Klappa selling 35,000 shares and CEO Scott J. Lauber selling 9,231 shares, both resulting in significant reductions in their ownership percentages.
• WEC Energy Group reported a $0.76 EPS for the last quarter, surpassing analyst expectations of $0.71, and announced a quarterly dividend of $0.8925 per share with a yield of 3.3%.

Fiduciary Alliance LLC grew its position in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 54.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,562 shares of the utilities provider's stock after buying an additional 5,140 shares during the quarter. Fiduciary Alliance LLC's holdings in WEC Energy Group were worth $1,517,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in WEC. Nuveen LLC purchased a new position in shares of WEC Energy Group in the first quarter valued at $403,372,000. GAMMA Investing LLC increased its position in shares of WEC Energy Group by 12,777.6% in the first quarter. GAMMA Investing LLC now owns 1,834,024 shares of the utilities provider's stock valued at $199,872,000 after buying an additional 1,819,782 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of WEC Energy Group by 34.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 5,213,304 shares of the utilities provider's stock valued at $567,727,000 after buying an additional 1,349,522 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of WEC Energy Group by 16.6% in the first quarter. JPMorgan Chase & Co. now owns 5,103,604 shares of the utilities provider's stock valued at $556,191,000 after buying an additional 726,267 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its position in shares of WEC Energy Group by 1,529.3% in the first quarter. T. Rowe Price Investment Management Inc. now owns 709,209 shares of the utilities provider's stock valued at $77,290,000 after buying an additional 665,681 shares in the last quarter. Hedge funds and other institutional investors own 77.20% of the company's stock.

Insider Activity at WEC Energy Group

In related news, Director Gale E. Klappa sold 35,000 shares of the firm's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $110.73, for a total transaction of $3,875,550.00. Following the completion of the transaction, the director owned 274,969 shares of the company's stock, valued at $30,447,317.37. This trade represents a 11.29% decrease in their ownership of the stock. The sale was disclosed in a filing 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 dated Friday, August 8th. The stock was 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 owned 56,443 shares in the company, valued at approximately $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 have sold a total of 68,448 shares of company stock worth $7,581,132 in the last ninety days. 0.50% of the stock is currently owned by corporate insiders.

WEC Energy Group Price Performance

Shares of WEC opened at $108.71 on Wednesday. The company has a market cap of $34.99 billion, a P/E ratio of 20.83, a PEG ratio of 3.05 and a beta of 0.44. The stock has a fifty day moving average price of $108.15 and a 200 day moving average price of $106.89. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.55 and a quick ratio of 0.40. WEC Energy Group, Inc. has a 12 month low of $91.94 and a 12 month high of $111.90.

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

WEC Energy Group Cuts Dividend

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

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. UBS Group set a $107.00 price objective on WEC Energy Group and gave the stock a "neutral" rating in a research report on Friday, July 11th. The Goldman Sachs Group cut WEC Energy Group from a "neutral" rating to a "sell" rating and dropped their price objective for the stock from $106.00 to $100.00 in a research report on Wednesday, June 25th. Finally, Wall Street Zen cut WEC Energy Group from a "hold" rating to a "sell" rating in a research report on Saturday, July 12th. Three equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, WEC Energy Group presently has an average rating of "Hold" and an average target price of $106.40.

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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