Resolution Capital Ltd Acquires New Position in WEC Energy Group, Inc. $WEC

Key Points

• Resolution Capital Ltd has acquired a new stake in WEC Energy Group, purchasing 13,647 shares valued at approximately $1.49 million during the first quarter.
• CEO Scott J. Lauber sold over 9,000 shares recently, decreasing his ownership by 14.06%, while other executives also made significant sales.
• Analysts have mixed ratings on WEC Energy Group, with a current average of "Hold" and a consensus target price of $106.40, amid recent adjustments including a cut from Goldman Sachs.

Resolution Capital Ltd acquired a new stake in WEC Energy Group, Inc. (NYSE:WEC - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,647 shares of the utilities provider's stock, valued at approximately $1,487,000.

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

Wall Street Analysts Forecast Growth

WEC has been the topic of a number of recent analyst reports. UBS Group set a $107.00 target price on shares of WEC Energy Group and gave the company a "neutral" rating in a research report on Friday, July 11th. The Goldman Sachs Group cut shares of WEC Energy Group from a "neutral" rating to a "sell" rating and decreased their target price for the company from $106.00 to $100.00 in a research report on Wednesday, June 25th. Finally, Wall Street Zen cut shares of WEC Energy Group from a "hold" rating to a "sell" rating in a research report on Saturday, July 12th. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $106.40.

Insider Buying and Selling at WEC Energy Group

In related news, CEO Scott J. Lauber sold 9,231 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were 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 of the company's stock, valued at $6,258,399.84. This trade represents a 14.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Daniel Krueger sold 5,930 shares of the firm's 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 completion of the sale, the executive vice president directly owned 6,606 shares in the company, valued at approximately $734,190.84. This trade represents a 47.30% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 68,448 shares of company stock valued at $7,581,132. Corporate insiders own 0.50% of the company's stock.

WEC Energy Group Stock Up 0.2%

Shares of WEC opened at $107.71 on Friday. The stock has a market capitalization of $34.67 billion, a PE ratio of 20.63, a P/E/G ratio of 2.95 and a beta of 0.44. WEC Energy Group, Inc. has a 1 year low of $91.94 and a 1 year high of $111.90. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.40 and a current ratio of 0.55. The company's 50-day simple moving average is $107.46 and its 200-day simple moving average is $106.67.

WEC Energy Group (NYSE:WEC - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.05. The business 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 business's quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.67 earnings per share. WEC Energy Group has set its FY 2025 guidance at 5.170-5.270 EPS. Analysts forecast that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

WEC Energy Group Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Thursday, August 14th were given a dividend of $0.8925 per share. This represents a $3.57 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Thursday, August 14th. WEC Energy Group's dividend payout ratio is currently 68.39%.

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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