Prudential PLC Buys 2,742 Shares of WEC Energy Group, Inc. $WEC

Key Points

• Prudential PLC increased its holdings in WEC Energy Group by 88.7% during the first quarter, acquiring a total of 5,833 shares worth $636,000.
• WEC Energy Group's stock received mixed ratings from analysts, with target prices ranging from $100.00 to $124.00 and a current consensus rating of "Hold".
• The company announced a quarterly dividend of $0.8925 per share, representing an annualized yield of 3.3%, while the dividend payout ratio stands at 68.39%.

Prudential PLC increased its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 88.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,833 shares of the utilities provider's stock after purchasing an additional 2,742 shares during the period. Prudential PLC's holdings in WEC Energy Group were worth $636,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Marcum Wealth LLC boosted its position in shares of WEC Energy Group by 1.3% during the first quarter. Marcum Wealth LLC now owns 7,416 shares of the utilities provider's stock valued at $808,000 after buying an additional 93 shares during the last quarter. Manchester Capital Management LLC boosted its position in shares of WEC Energy Group by 14.3% during the first quarter. Manchester Capital Management LLC now owns 744 shares of the utilities provider's stock valued at $81,000 after buying an additional 93 shares during the last quarter. Clean Yield Group boosted its position in shares of WEC Energy Group by 12.6% during the first quarter. Clean Yield Group now owns 867 shares of the utilities provider's stock valued at $94,000 after buying an additional 97 shares during the last quarter. MJP Associates Inc. ADV boosted its position in shares of WEC Energy Group by 3.4% during the fourth quarter. MJP Associates Inc. ADV now owns 3,019 shares of the utilities provider's stock valued at $284,000 after buying an additional 98 shares during the last quarter. Finally, Premier Path Wealth Partners LLC boosted its position in WEC Energy Group by 3.0% in the first quarter. Premier Path Wealth Partners LLC now owns 3,335 shares of the utilities provider's stock worth $363,000 after purchasing an additional 98 shares during the last quarter. Institutional investors and hedge funds own 77.20% of the company's stock.

WEC Energy Group Stock Performance

Shares of WEC traded down $0.49 during mid-day trading on Thursday, hitting $108.42. The stock had a trading volume of 1,516,882 shares, compared to its average volume of 2,300,208. The firm has a market cap of $34.90 billion, a P/E ratio of 20.77, a PEG ratio of 2.99 and a beta of 0.42. The business has a fifty day moving average price of $106.81 and a 200-day moving average price of $106.29. 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 52 week low of $91.72 and a 52 week high of $111.90.

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

WEC Energy Group Cuts Dividend

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

Insider Transactions at WEC Energy Group

In related news, EVP Molly A. Mulroy sold 4,030 shares of the business's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $110.33, for a total transaction of $444,629.90. Following the sale, the executive vice president directly owned 5,829 shares in the company, valued at approximately $643,113.57. The trade was a 40.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gale E. Klappa sold 5,960 shares of the business's 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. The trade was a 2.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 68,448 shares of company stock valued at $7,581,132. 0.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

WEC has been the topic of several research analyst reports. Barclays boosted their price objective on WEC Energy Group from $99.00 to $101.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 29th. UBS Group set a $107.00 price objective on WEC Energy Group and gave the stock a "neutral" rating in a research report on Friday, July 11th. Wall Street Zen cut WEC Energy Group from a "hold" rating to a "sell" rating in a research report on Saturday, July 12th. The Goldman Sachs Group cut WEC Energy Group from a "neutral" rating to a "sell" rating and cut their price objective for the stock from $106.00 to $100.00 in a research report on Wednesday, June 25th. Finally, Wells Fargo & Company boosted their price objective on WEC Energy Group from $115.00 to $124.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, WEC Energy Group presently has a consensus rating of "Hold" and a consensus price target of $106.40.

WEC Energy Group 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.