ICONIQ Capital LLC Makes New Investment in WEC Energy Group, Inc. $WEC

Key Points

• ICONIQ Capital LLC has acquired a new stake in WEC Energy Group, purchasing 2,339 shares valued at approximately $255,000 during the first quarter.
• Recent insider transactions have seen executives Anthony Reese and Molly A. Mulroy sell significant portions of their shares, with Reese's position decreasing by 70.39% after selling 4,177 shares.
• WEC Energy Group has set its FY 2025 earnings guidance in the range of $5.170-$5.270 EPS, with analysts forecasting a consensus EPS of 5.23 for the current fiscal year.

ICONIQ Capital LLC purchased a new stake in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,339 shares of the utilities provider's stock, valued at approximately $255,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Marcum Wealth LLC lifted its holdings in shares of WEC Energy Group by 1.3% in the first quarter. Marcum Wealth LLC now owns 7,416 shares of the utilities provider's stock valued at $808,000 after purchasing an additional 93 shares in the last quarter. Manchester Capital Management LLC raised its position in WEC Energy Group by 14.3% during the first quarter. Manchester Capital Management LLC now owns 744 shares of the utilities provider's stock valued at $81,000 after buying an additional 93 shares during the period. Clean Yield Group raised its position in WEC Energy Group by 12.6% during the first quarter. Clean Yield Group now owns 867 shares of the utilities provider's stock valued at $94,000 after buying an additional 97 shares during the period. MJP Associates Inc. ADV raised its position in WEC Energy Group by 3.4% during the fourth quarter. MJP Associates Inc. ADV now owns 3,019 shares of the utilities provider's stock valued at $284,000 after buying an additional 98 shares during the period. Finally, Premier Path Wealth Partners LLC lifted its stake in WEC Energy Group by 3.0% in the 1st quarter. Premier Path Wealth Partners LLC now owns 3,335 shares of the utilities provider's stock worth $363,000 after acquiring an additional 98 shares in the last quarter. 77.20% of the stock is currently owned by institutional investors.

Insider Activity

In other news, VP Anthony Reese sold 4,177 shares of the company's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $110.30, for a total transaction of $460,723.10. Following the completion of the sale, the vice president owned 1,757 shares in the company, valued at approximately $193,797.10. This represents a 70.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Molly A. Mulroy sold 4,030 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $110.33, for a total value of $444,629.90. Following the transaction, the executive vice president directly owned 5,829 shares in the company, valued at approximately $643,113.57. This represents a 40.88% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 68,448 shares of company stock valued at $7,581,132. Corporate insiders own 0.50% of the company's stock.

WEC Energy Group Trading Down 1.4%

NYSE:WEC opened at $107.0330 on Tuesday. The company has a market capitalization of $34.45 billion, a P/E ratio of 20.50, a P/E/G ratio of 2.98 and a beta of 0.42. The stock's 50 day moving average price is $106.94 and its 200 day moving average price is $106.47. 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, Inc. has a 52 week low of $91.89 and a 52 week high of $111.90.

WEC Energy Group (NYSE:WEC - Get Free Report) last posted its earnings results on Wednesday, July 30th. The utilities provider reported $0.76 earnings per share (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 during the quarter, compared to analysts' expectations of $1.87 billion. During the same period in the previous year, the company earned $0.67 earnings per share. The company's revenue was up 13.4% compared to the same quarter last year. 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 EPS for the current fiscal year.

WEC Energy Group Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Thursday, August 14th will be issued a $0.8925 dividend. The ex-dividend date is Thursday, August 14th. This represents a $3.57 dividend on an annualized basis and a yield of 3.3%. WEC Energy Group's dividend payout ratio is currently 68.39%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on WEC shares. Wall Street Zen downgraded WEC Energy Group from a "hold" rating to a "sell" rating in a report on Saturday, July 12th. Scotiabank set a $115.00 price objective on shares of WEC Energy Group and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Barclays upped their price objective on shares of WEC Energy Group from $99.00 to $101.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 29th. Wells Fargo & Company lifted their target price on shares of WEC Energy Group from $115.00 to $124.00 and gave the company an "overweight" rating in a research note on Wednesday, May 7th. Finally, The Goldman Sachs Group cut 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 report on Wednesday, June 25th. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $106.40.

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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