OLD National Bancorp IN Buys New Holdings in WEC Energy Group, Inc. $WEC

OLD National Bancorp IN bought a new stake in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,983 shares of the utilities provider's stock, valued at approximately $311,000.

Other institutional investors also recently bought and sold shares of the company. Truvestments Capital LLC purchased a new stake in WEC Energy Group during the 1st quarter valued at about $25,000. Nova Wealth Management Inc. purchased a new stake in WEC Energy Group in the 1st quarter worth approximately $26,000. Hughes Financial Services LLC purchased a new stake in WEC Energy Group in the 1st quarter worth approximately $28,000. Opal Wealth Advisors LLC purchased a new stake in WEC Energy Group in the 1st quarter worth approximately $32,000. Finally, ORG Partners LLC lifted its holdings in WEC Energy Group by 65.7% in the 2nd quarter. ORG Partners LLC now owns 328 shares of the utilities provider's stock worth $34,000 after buying an additional 130 shares during the period. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

WEC Energy Group Stock Up 0.5%

WEC stock opened at $115.12 on Wednesday. WEC Energy Group, Inc. has a twelve month low of $91.94 and a twelve month high of $115.90. The company has a quick ratio of 0.40, a current ratio of 0.55 and a debt-to-equity ratio of 1.28. The firm has a market cap of $37.05 billion, a PE ratio of 22.05, a price-to-earnings-growth ratio of 3.15 and a beta of 0.47. The business has a 50 day moving average of $109.63 and a 200 day moving average of $107.48.

WEC Energy Group (NYSE:WEC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $0.76 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $1.87 billion. During the same quarter last year, the company earned $0.67 EPS. The firm'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. 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 business also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Thursday, August 14th were given a dividend of $0.8925 per share. This represents a $3.57 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Thursday, August 14th. WEC Energy Group's dividend payout ratio (DPR) is 68.39%.

Insider Buying and Selling at WEC Energy Group

In other WEC Energy Group news, Director Ulice Payne, Jr. sold 1,620 shares of the stock in a transaction 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 trade represents a 7.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gale E. Klappa sold 5,960 shares of the stock in a transaction on Monday, August 4th. The shares were sold at an average price of $110.98, for a total value of $661,440.80. Following the sale, the director owned 274,969 shares in the company, valued at approximately $30,516,059.62. This represents a 2.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 68,448 shares of company stock worth $7,581,132. Insiders own 0.50% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. The Goldman Sachs Group cut WEC Energy Group from a "neutral" rating to a "sell" rating and dropped their price objective for the stock from $106.00 to $100.00 in a report on Wednesday, June 25th. Scotiabank increased their price objective on WEC Energy Group from $115.00 to $129.00 and gave the stock an "outperform" rating in a report on Monday. Wall Street Zen upgraded WEC Energy Group from a "sell" rating to a "hold" rating in a report on Saturday. UBS Group set a $107.00 target price on WEC Energy Group and gave the stock a "neutral" rating in a research report on Friday, July 11th. Finally, Citigroup assumed coverage on WEC Energy Group in a research report on Friday. They issued a "buy" rating and a $131.00 target price for the company. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $110.70.

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.

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