MBB Public Markets I LLC Invests $324,000 in WEC Energy Group, Inc. $WEC

Key Points

• MBB Public Markets I LLC has acquired a new stake in WEC Energy Group, Inc., purchasing 2,975 shares valued at approximately $324,000 during the first quarter.
• WEC Energy reported a quarterly EPS of $0.76, surpassing analysts' expectations of $0.71, with a revenue of $2.01 billion compared to the forecast of $1.87 billion.
• Several analysts have revised their ratings on WEC Energy Group, with UBS setting a price target of $107.00 and Goldman Sachs lowering its rating from "neutral" to "sell" with a target of $100.00.

MBB Public Markets I LLC bought a new position in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,975 shares of the utilities provider's stock, valued at approximately $324,000.

A number of other large investors have also modified their holdings of WEC. Nuveen LLC purchased a new position in WEC Energy Group in the 1st quarter valued at approximately $403,372,000. GAMMA Investing LLC increased its stake in WEC Energy Group by 12,777.6% in the 1st quarter. GAMMA Investing LLC now owns 1,834,024 shares of the utilities provider's stock valued at $199,872,000 after purchasing an additional 1,819,782 shares in the last quarter. Janus Henderson Group PLC increased its stake in WEC Energy Group by 3,815.2% in the 4th quarter. Janus Henderson Group PLC now owns 1,471,096 shares of the utilities provider's stock valued at $138,342,000 after purchasing an additional 1,433,522 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in WEC Energy Group by 34.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,213,304 shares of the utilities provider's stock valued at $567,727,000 after purchasing an additional 1,349,522 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in WEC Energy Group by 16.6% in the 1st quarter. JPMorgan Chase & Co. now owns 5,103,604 shares of the utilities provider's stock valued at $556,191,000 after purchasing an additional 726,267 shares in the last quarter. 77.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at WEC Energy Group

In other news, EVP Daniel Krueger sold 5,930 shares of the firm's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $111.14, for a total transaction of $659,060.20. Following the sale, the executive vice president owned 6,606 shares in the company, valued at $734,190.84. This trade represents a 47.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Scott J. Lauber sold 9,231 shares of the firm's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $110.88, for a total value of $1,023,533.28. Following the sale, the chief executive officer owned 56,443 shares in the company, valued at $6,258,399.84. This trade represents a 14.06% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 68,448 shares of company stock valued at $7,581,132. 0.50% of the stock is currently owned by insiders.

WEC Energy Group Price Performance

NYSE:WEC traded up $0.80 during trading hours on Friday, reaching $110.52. 1,532,663 shares of the company traded hands, compared to its average volume of 1,936,969. The firm's 50-day moving average is $107.92 and its 200-day moving average is $106.84. The stock has a market cap of $35.57 billion, a P/E ratio of 21.17, a P/E/G ratio of 3.04 and a beta of 0.44. 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 1-year low of $91.94 and a 1-year high of $111.90.

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, beating analysts' consensus estimates 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 return on equity of 12.90% and a net margin of 17.87%.WEC Energy Group's quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.67 EPS. WEC Energy Group has set its FY 2025 guidance at 5.170-5.270 EPS. Equities research analysts expect that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

WEC Energy Group Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Thursday, August 14th were issued a dividend of $0.8925 per share. This represents a $3.57 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Thursday, August 14th. WEC Energy Group's dividend payout ratio is 68.39%.

Analyst Upgrades and Downgrades

WEC has been the subject of several research analyst reports. Wall Street Zen downgraded WEC Energy Group from a "hold" rating to a "sell" rating in a research note 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 company from $106.00 to $100.00 in a research note on Wednesday, June 25th. Finally, UBS Group set a $107.00 price objective on WEC Energy Group and gave the company a "neutral" rating in a research note on Friday, July 11th. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, WEC Energy Group presently has a consensus rating of "Hold" and a consensus target price of $106.40.

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.