Korea Investment CORP Has $37.57 Million Position in WEC Energy Group, Inc. $WEC

Key Points

• Korea Investment Corp increased its stake in WEC Energy Group by 18.3%, acquiring an additional 53,220 shares, bringing its total holdings to 344,744 shares valued at approximately $37.57 million.
• WEC Energy Group reported a quarterly earnings per share of $0.76, surpassing analysts' predictions of $0.71, with revenues of $2.01 billion, also exceeding the estimated $1.87 billion.
• The company announced a quarterly dividend of $0.8925 per share, resulting in an annualized dividend of $3.57 and a yield of 3.3%.

Korea Investment CORP boosted its stake in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 18.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 344,744 shares of the utilities provider's stock after buying an additional 53,220 shares during the period. Korea Investment CORP owned 0.11% of WEC Energy Group worth $37,570,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Horizon Investment Services LLC acquired a new position in shares of WEC Energy Group during the first quarter valued at $379,000. Los Angeles Capital Management LLC increased its holdings in shares of WEC Energy Group by 2,964.9% during the first quarter. Los Angeles Capital Management LLC now owns 108,651 shares of the utilities provider's stock valued at $11,841,000 after purchasing an additional 105,106 shares during the period. AustralianSuper Pty Ltd acquired a new position in shares of WEC Energy Group during the first quarter valued at $10,333,000. Sowell Financial Services LLC acquired a new position in shares of WEC Energy Group during the first quarter valued at $325,000. Finally, CWA Asset Management Group LLC increased its holdings in shares of WEC Energy Group by 5.6% during the first quarter. CWA Asset Management Group LLC now owns 2,947 shares of the utilities provider's stock valued at $321,000 after purchasing an additional 157 shares during the period. 77.20% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Scotiabank set a $115.00 price target on WEC Energy Group and gave the company an "outperform" rating in a report on Wednesday, May 7th. UBS Group set a $107.00 target price on WEC Energy Group and gave the stock a "neutral" rating in a report on Friday, July 11th. Wells Fargo & Company lifted their target price on WEC Energy Group from $115.00 to $124.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Barclays lifted their target price on WEC Energy Group from $99.00 to $101.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 29th. Finally, Wall Street Zen lowered 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, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $106.40.

WEC Energy Group Stock Down 0.0%

NYSE:WEC traded down $0.0490 on Friday, hitting $108.4310. 1,324,157 shares of the company's stock traded hands, compared to its average volume of 2,311,168. The company has a current ratio of 0.55, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28. WEC Energy Group, Inc. has a 1 year low of $91.89 and a 1 year high of $111.90. The firm has a 50-day moving average price of $106.88 and a 200-day moving average price of $106.35. The company has a market cap of $34.90 billion, a PE ratio of 20.77, a price-to-earnings-growth ratio of 2.98 and a beta of 0.42.

WEC Energy Group (NYSE:WEC - Get Free Report) last released its earnings results on Wednesday, July 30th. The utilities provider reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.05. WEC Energy Group had a return on equity of 12.90% and a net margin of 17.87%.The company had revenue of $2.01 billion for the quarter, compared to analysts' expectations of $1.87 billion. During the same quarter in the previous year, the business posted $0.67 EPS. The business's revenue for the quarter was up 13.4% on a year-over-year basis. WEC Energy Group has set its FY 2025 guidance at 5.170-5.270 EPS. Equities analysts anticipate that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

WEC Energy Group Cuts Dividend

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

Insider Buying and Selling at WEC Energy Group

In other news, EVP Molly A. Mulroy sold 4,030 shares of WEC Energy Group stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $110.33, for a total transaction of $444,629.90. Following the completion of the sale, the executive vice president directly owned 5,829 shares in the company, valued at $643,113.57. The trade was a 40.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 value of $179,820.00. Following the sale, the director owned 20,360 shares of the company's stock, valued at approximately $2,259,960. This represents a 7.37% 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 over the last quarter. Insiders own 0.50% of the company's stock.

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.