PUREfi Wealth LLC Purchases Shares of 2,531 WEC Energy Group, Inc. $WEC

Key Points

• PUREfi Wealth LLC acquired a new stake of 2,531 shares in WEC Energy Group valued at approximately $264,000 during the second quarter.
• Major investment firms such as Charles Schwab Investment Management and JPMorgan Chase & Co. significantly increased their holdings in WEC Energy Group during the first quarter, boosting institutional ownership to 77.20%.
• The company's recent quarterly earnings report showed an EPS of $0.76, surpassing estimates, while WEC Energy Group has set its FY 2025 guidance at 5.170-5.270 EPS.

PUREfi Wealth LLC purchased a new stake in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,531 shares of the utilities provider's stock, valued at approximately $264,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. lifted its position in WEC Energy Group by 34.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 5,213,304 shares of the utilities provider's stock valued at $567,727,000 after buying an additional 1,349,522 shares in the last quarter. JPMorgan Chase & Co. lifted its position in WEC Energy Group by 16.6% during the first quarter. JPMorgan Chase & Co. now owns 5,103,604 shares of the utilities provider's stock valued at $556,191,000 after buying an additional 726,267 shares in the last quarter. Ameriprise Financial Inc. lifted its position in WEC Energy Group by 0.8% during the first quarter. Ameriprise Financial Inc. now owns 4,274,385 shares of the utilities provider's stock valued at $466,451,000 after buying an additional 33,810 shares in the last quarter. Northern Trust Corp lifted its position in shares of WEC Energy Group by 4.9% during the first quarter. Northern Trust Corp now owns 4,003,464 shares of the utilities provider's stock worth $436,298,000 after purchasing an additional 188,057 shares in the last quarter. Finally, Nuveen LLC acquired a new position in shares of WEC Energy Group during the first quarter worth $403,372,000. 77.20% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on WEC. Citigroup began coverage on shares of WEC Energy Group in a research report on Friday. They set a "buy" rating and a $131.00 target price on the stock. Wall Street Zen raised shares of WEC Energy Group from a "sell" rating to a "hold" rating in a research report on Saturday. UBS Group set a $107.00 target price on shares of WEC Energy Group and gave the stock a "neutral" rating in a research report on Friday, July 11th. Weiss Ratings reissued a "buy (b-)" rating on shares of WEC Energy Group in a research report on Saturday, September 27th. Finally, The Goldman Sachs Group cut shares of WEC Energy Group from a "neutral" rating to a "sell" rating and reduced their target price for the stock from $106.00 to $100.00 in a research report on Wednesday, June 25th. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $109.30.

WEC Energy Group Trading Up 1.1%

WEC opened at $113.24 on Monday. The stock has a market capitalization of $36.45 billion, a PE ratio of 21.69, a P/E/G ratio of 3.11 and a beta of 0.47. The firm's fifty day moving average price is $109.36 and its 200 day moving average price is $107.37. 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 12-month low of $91.94 and a 12-month high of $114.97.

WEC Energy Group (NYSE:WEC - Get Free Report) last posted its quarterly 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 analysts' expectations of $1.87 billion. WEC Energy Group had a net margin of 17.87% and a return on equity of 12.90%. The firm's quarterly revenue was up 13.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.67 earnings per share. 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 fiscal year.

WEC Energy Group Cuts Dividend

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

Insider Activity

In other WEC Energy Group news, Director Ulice Payne, Jr. sold 1,620 shares of the business's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $111.00, for a total transaction of $179,820.00. Following the completion of the sale, the director owned 20,360 shares in the company, valued at $2,259,960. The trade was a 7.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Scott J. Lauber sold 9,231 shares of the business's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $110.88, for a total transaction of $1,023,533.28. Following the sale, the chief executive officer owned 56,443 shares of the company's stock, valued at approximately $6,258,399.84. The trade was a 14.06% 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 over the last quarter. 0.50% of the stock is owned by company insiders.

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.

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