MBB Public Markets I LLC Acquires New Holdings 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 stake in WEC Energy Group, Inc. (NYSE:WEC - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,975 shares of the utilities provider's stock, valued at approximately $324,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Truvestments Capital LLC bought a new stake in shares of WEC Energy Group during the first quarter worth approximately $25,000. Hughes Financial Services LLC acquired a new position in WEC Energy Group during the first quarter worth about $28,000. Opal Wealth Advisors LLC bought a new position in WEC Energy Group in the first quarter valued at about $32,000. WPG Advisers LLC acquired a new stake in WEC Energy Group in the first quarter valued at $35,000. Finally, Golden State Wealth Management LLC increased its position in shares of WEC Energy Group by 252.6% during the first quarter. Golden State Wealth Management LLC now owns 342 shares of the utilities provider's stock worth $37,000 after buying an additional 245 shares during the period. 77.20% of the stock is owned by institutional investors.

Insider Transactions at WEC Energy Group

In related news, EVP Daniel Krueger sold 5,930 shares of WEC Energy Group stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $111.14, for a total transaction of $659,060.20. Following the transaction, the executive vice president directly owned 6,606 shares of the company's stock, valued at $734,190.84. This trade represents a 47.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Ulice Payne, Jr. sold 1,620 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $111.00, for a total transaction of $179,820.00. Following the sale, the director directly owned 20,360 shares in the company, valued at approximately $2,259,960. This represents a 7.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 68,448 shares of company stock valued at $7,581,132 in the last ninety days. Corporate insiders own 0.50% of the company's stock.

WEC Energy Group Stock Up 0.7%

WEC traded up $0.80 during midday trading on Friday, reaching $110.52. The company's stock had a trading volume of 1,532,663 shares, compared to its average volume of 2,207,757. The firm has a market capitalization of $35.57 billion, a price-to-earnings ratio of 21.17, a PEG ratio of 3.01 and a beta of 0.44. The company has a current ratio of 0.55, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28. The stock's 50-day moving average is $107.80 and its 200-day moving average is $106.80. 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 released its quarterly 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 firm had revenue of $2.01 billion for the quarter, compared to analysts' expectations of $1.87 billion. During the same period in the prior year, the firm earned $0.67 EPS. 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. As a group, research analysts expect that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

WEC Energy Group Cuts Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. UBS Group set a $107.00 target price on WEC Energy Group and gave the company a "neutral" rating in a research report on Friday, July 11th. Wall Street Zen lowered WEC Energy Group from a "hold" rating to a "sell" rating in a report on Saturday, July 12th. Finally, The Goldman Sachs Group downgraded shares of WEC Energy Group from a "neutral" rating to a "sell" rating and reduced their target price for the company from $106.00 to $100.00 in a research report on Wednesday, June 25th. Three research 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, the company has a consensus rating of "Hold" and a consensus price target of $106.40.

WEC Energy Group Company 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.