Simplicity Wealth LLC Takes $563,000 Position in WEC Energy Group, Inc. $WEC

Simplicity Wealth LLC acquired a new stake in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 5,402 shares of the utilities provider's stock, valued at approximately $563,000.

Other hedge funds have also recently modified their holdings of the company. Horizon Investment Services LLC purchased a new position in WEC Energy Group during the first quarter valued at approximately $379,000. Los Angeles Capital Management LLC increased its holdings in WEC Energy Group by 2,964.9% during the first quarter. Los Angeles Capital Management LLC now owns 108,651 shares of the utilities provider's stock valued at $11,841,000 after buying an additional 105,106 shares during the period. AustralianSuper Pty Ltd purchased a new position in WEC Energy Group during the first quarter valued at approximately $10,333,000. Sowell Financial Services LLC purchased a new position in WEC Energy Group during the first quarter valued at approximately $325,000. Finally, CWA Asset Management Group LLC increased its holdings in WEC Energy Group by 5.6% during the first quarter. CWA Asset Management Group LLC now owns 2,947 shares of the utilities provider's stock valued at $321,000 after buying an additional 157 shares during the period. Institutional investors own 77.20% of the company's stock.

WEC Energy Group Trading Up 0.5%

Shares of WEC Energy Group stock opened at $115.12 on Wednesday. The firm has a 50-day simple moving average of $109.63 and a two-hundred day simple moving average of $107.48. The company has a market cap of $37.05 billion, a P/E ratio of 22.05, a price-to-earnings-growth ratio of 3.15 and a beta of 0.47. WEC Energy Group, Inc. has a fifty-two week low of $91.94 and a fifty-two week high of $115.90. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.40 and a current ratio of 0.55.

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

WEC Energy Group Cuts Dividend

The business also recently declared 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 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Thursday, August 14th. WEC Energy Group's dividend payout ratio is 68.39%.

Analysts Set New Price Targets

Several brokerages recently issued reports on WEC. The Goldman Sachs Group lowered shares of WEC Energy Group from a "neutral" rating to a "sell" rating and cut their price objective for the company from $106.00 to $100.00 in a report on Wednesday, June 25th. Citigroup began coverage on shares of WEC Energy Group in a research note on Friday. They issued a "buy" rating and a $131.00 target price for the company. Wall Street Zen upgraded shares of WEC Energy Group from a "sell" rating to a "hold" rating in a research note on Saturday. Weiss Ratings restated a "buy (b-)" rating on shares of WEC Energy Group in a research note on Saturday, September 27th. Finally, Scotiabank raised their target price on shares of WEC Energy Group from $115.00 to $129.00 and gave the company an "outperform" rating in a research note on Monday. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, WEC Energy Group currently has a consensus rating of "Hold" and an average target price of $110.70.

Insider Activity

In related news, VP Anthony Reese sold 4,177 shares of the company's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $110.30, for a total transaction of $460,723.10. Following the completion of the transaction, the vice president owned 1,757 shares in the company, valued at $193,797.10. This represents a 70.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gale E. Klappa sold 35,000 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $110.73, for a total transaction of $3,875,550.00. Following the completion of the sale, the director directly owned 274,969 shares of the company's stock, valued at approximately $30,447,317.37. This trade represents a 11.29% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 68,448 shares of company stock worth $7,581,132. Company insiders own 0.50% of the company's stock.

About WEC Energy Group

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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