First United Bank & Trust Invests $359,000 in WEC Energy Group, Inc. $WEC

Key Points

• First United Bank & Trust invested approximately $359,000 in WEC Energy Group by acquiring 3,450 shares, as reported in their latest SEC filing.
• WEC Energy Group reported a earnings per share (EPS) of $0.76 for the last quarter, exceeding expectations and contributing to a revenue increase of 13.4% year-over-year.
• The company has declared a quarterly dividend of $0.8925, resulting in an annual yield of 3.1%, with a current dividend payout ratio of 68.39%.

First United Bank & Trust acquired a new position in shares of 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 acquired 3,450 shares of the utilities provider's stock, valued at approximately $359,000.

Several other large investors have also modified their holdings of WEC. Versant Capital Management Inc boosted its position in WEC Energy Group by 365.4% during the 1st quarter. Versant Capital Management Inc now owns 754 shares of the utilities provider's stock worth $82,000 after acquiring an additional 592 shares during the period. Fifth Third Wealth Advisors LLC lifted its position in shares of WEC Energy Group by 5.7% in the first quarter. Fifth Third Wealth Advisors LLC now owns 4,788 shares of the utilities provider's stock worth $522,000 after purchasing an additional 257 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of WEC Energy Group by 5.7% during the first quarter. Rhumbline Advisers now owns 642,778 shares of the utilities provider's stock worth $70,050,000 after purchasing an additional 34,526 shares during the period. Czech National Bank grew its position in WEC Energy Group by 6.4% during the first quarter. Czech National Bank now owns 72,966 shares of the utilities provider's stock valued at $7,952,000 after purchasing an additional 4,374 shares in the last quarter. Finally, Baker Tilly Wealth Management LLC acquired a new position in WEC Energy Group in the 1st quarter valued at approximately $203,000. 77.20% of the stock is owned by institutional investors.

WEC Energy Group Stock Performance

Shares of WEC opened at $114.16 on Tuesday. The company has a market capitalization of $36.75 billion, a PE ratio of 21.87, a price-to-earnings-growth ratio of 3.10 and a beta of 0.44. WEC Energy Group, Inc. has a one year low of $91.94 and a one year high of $114.36. 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 company's fifty day moving average price is $109.07 and its 200 day moving average price is $107.22.

WEC Energy Group (NYSE:WEC - Get Free Report) last announced its earnings results on Wednesday, July 30th. The utilities provider reported $0.76 EPS 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 the consensus estimate of $1.87 billion. WEC Energy Group had a net margin of 17.87% and a return on equity of 12.90%. The business's quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter last year, the firm posted $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 earnings per share for the current year.

WEC Energy Group Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Thursday, August 14th were given a $0.8925 dividend. This represents a $3.57 annualized dividend and a yield of 3.1%. The ex-dividend date was Thursday, August 14th. WEC Energy Group's dividend payout ratio (DPR) is currently 68.39%.

Insider Buying and Selling

In other WEC Energy Group news, EVP Molly A. Mulroy sold 4,030 shares of the firm's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $110.33, for a total value of $444,629.90. Following the sale, the executive vice president directly owned 5,829 shares in the company, valued at $643,113.57. This trade represents a 40.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ulice Payne, Jr. sold 1,620 shares of WEC Energy Group stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $111.00, for a total transaction of $179,820.00. Following the sale, the director owned 20,360 shares in the company, valued at approximately $2,259,960. This trade represents a 7.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 68,448 shares of company stock worth $7,581,132. 0.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

WEC has been the topic of several research analyst reports. Wall Street Zen cut shares of WEC Energy Group from a "hold" rating to a "sell" rating in a report on Saturday, July 12th. The Goldman Sachs Group downgraded 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 report on Wednesday, June 25th. Finally, UBS Group set a $107.00 target price on shares of WEC Energy Group and gave the stock a "neutral" rating in a research report on Friday, July 11th. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $106.89.

WEC Energy Group 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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