IFM Investors Pty Ltd Buys 4,014 Shares of WEC Energy Group, Inc. $WEC

Key Points

• IFM Investors Pty Ltd has increased its stake in WEC Energy Group by 6.0%, owning 70,904 shares worth approximately $7.39 million.
• WEC Energy Group's quarterly earnings surpassed expectations, reporting $0.76 earnings per share against a consensus estimate of $0.71, resulting in revenue of $2.01 billion for the quarter.
• Several analysts have downgraded the stock to "sell," with Goldman Sachs lowering its price target from $106.00 to $100.00, while UBS Group set a price objective of $107.00 with a "neutral" rating.

IFM Investors Pty Ltd increased its position in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 6.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 70,904 shares of the utilities provider's stock after purchasing an additional 4,014 shares during the period. IFM Investors Pty Ltd's holdings in WEC Energy Group were worth $7,388,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Tidal Investments LLC lifted its holdings in shares of WEC Energy Group by 13.8% in the 4th quarter. Tidal Investments LLC now owns 5,040 shares of the utilities provider's stock worth $474,000 after purchasing an additional 612 shares in the last quarter. Woodline Partners LP acquired a new stake in WEC Energy Group during the 4th quarter worth about $1,787,000. Waverly Advisors LLC increased its stake in WEC Energy Group by 13.7% during the 4th quarter. Waverly Advisors LLC now owns 4,831 shares of the utilities provider's stock worth $454,000 after buying an additional 582 shares in the last quarter. Voloridge Investment Management LLC purchased a new position in WEC Energy Group in the fourth quarter worth approximately $1,713,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of WEC Energy Group by 25.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,657,213 shares of the utilities provider's stock worth $155,844,000 after purchasing an additional 341,346 shares during the last quarter. 77.20% of the stock is currently owned by institutional investors.

WEC Energy Group Price Performance

Shares of NYSE WEC traded up $0.76 during mid-day trading on Friday, hitting $110.23. 3,179,202 shares of the stock traded hands, compared to its average volume of 1,980,945. WEC Energy Group, Inc. has a twelve month low of $91.94 and a twelve month high of $111.90. The company has a market cap of $35.48 billion, a PE ratio of 21.12, a price-to-earnings-growth ratio of 3.03 and a beta of 0.44. The firm has a 50 day simple moving average of $108.42 and a two-hundred day simple moving average of $106.98. 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 (NYSE:WEC - Get Free Report) last released 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 analysts' expectations 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 in the prior year, the firm posted $0.67 earnings per share. WEC Energy Group has set its FY 2025 guidance at 5.170-5.270 EPS. As a group, equities 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 was paid on Monday, September 1st. Investors of record on Thursday, August 14th were issued a $0.8925 dividend. The ex-dividend date was Thursday, August 14th. This represents a $3.57 dividend on an annualized basis and a dividend yield of 3.2%. WEC Energy Group's payout ratio is 68.39%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on WEC shares. UBS Group set a $107.00 price objective on shares of WEC Energy Group and gave the company a "neutral" rating in a report on Friday, July 11th. The Goldman Sachs Group downgraded shares of WEC Energy Group from a "neutral" rating to a "sell" rating and cut their price target for the stock from $106.00 to $100.00 in a report on Wednesday, June 25th. Finally, Wall Street Zen downgraded shares of WEC Energy Group from a "hold" rating to a "sell" rating in a report on Saturday, July 12th. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $106.89.

Insiders Place Their Bets

In other WEC Energy Group news, Director Gale E. Klappa sold 35,000 shares of the company's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $110.73, for a total value of $3,875,550.00. Following the completion of the sale, the director directly owned 274,969 shares of the company's stock, valued at approximately $30,447,317.37. This represents a 11.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Daniel Krueger sold 5,930 shares of the stock in a transaction on Monday, August 4th. The stock was sold at an average price of $111.14, for a total value of $659,060.20. Following the transaction, the executive vice president owned 6,606 shares of the company's stock, valued at $734,190.84. This represents a 47.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, 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.