Strs Ohio Acquires Shares of 334,117 WEC Energy Group, Inc. $WEC

Key Points

• Strs Ohio has acquired 334,117 shares of WEC Energy Group, valued at approximately $36.4 million, increasing its stake to about 0.10% of the company.
• WEC Energy Group reported a quarterly earnings per share (EPS) of $0.76, exceeding expectations and with revenue growth of 13.4% year-over-year, reaching $2.01 billion.
• The firm recently announced a quarterly dividend of $0.8925 per share, resulting in an annual yield of 3.3%, but the payout ratio currently stands at 68.39%.

Strs Ohio acquired a new stake in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 334,117 shares of the utilities provider's stock, valued at approximately $36,412,000. Strs Ohio owned approximately 0.10% of WEC Energy Group as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Truvestments Capital LLC acquired a new stake in WEC Energy Group during the 1st quarter valued at approximately $25,000. Hughes Financial Services LLC acquired a new position in shares of WEC Energy Group in the 1st quarter worth approximately $28,000. Opal Wealth Advisors LLC acquired a new position in shares of WEC Energy Group in the 1st quarter worth approximately $32,000. WPG Advisers LLC acquired a new position in shares of WEC Energy Group in the 1st quarter worth approximately $35,000. Finally, Golden State Wealth Management LLC grew its position in shares of WEC Energy Group by 252.6% in the 1st quarter. Golden State Wealth Management LLC now owns 342 shares of the utilities provider's stock worth $37,000 after acquiring an additional 245 shares in the last quarter. Institutional investors and hedge funds own 77.20% of the company's stock.

WEC Energy Group Trading Up 0.3%

Shares of NYSE WEC opened at $109.70 on Friday. The company has a market cap of $35.31 billion, a price-to-earnings ratio of 21.02, a price-to-earnings-growth ratio of 3.01 and a beta of 0.44. WEC Energy Group, Inc. has a 12-month low of $91.94 and a 12-month high of $111.90. The company has a current ratio of 0.55, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28. The stock's 50 day simple moving average is $107.80 and its 200 day simple moving average is $106.80.

WEC Energy Group (NYSE:WEC - Get Free Report) last announced 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 the consensus estimate 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 quarter last year, the business posted $0.67 EPS. WEC Energy Group has set its FY 2025 guidance at 5.170-5.270 EPS. Equities research analysts expect that WEC Energy Group, Inc. will post 5.23 EPS for the current 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 of this dividend was Thursday, August 14th. This represents a $3.57 annualized dividend and a yield of 3.3%. WEC Energy Group's payout ratio is presently 68.39%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on WEC shares. 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. Wall Street Zen lowered WEC Energy Group from a "hold" rating to a "sell" rating in a research report on Saturday, July 12th. Finally, The Goldman Sachs Group lowered WEC Energy Group from a "neutral" rating to a "sell" rating and decreased their target price for the stock from $106.00 to $100.00 in a research report on Wednesday, June 25th. Three equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $106.40.

Insider Activity

In other WEC Energy Group news, EVP Daniel Krueger sold 5,930 shares of WEC Energy Group stock in a transaction on Monday, August 4th. The stock was sold at an average price of $111.14, for a total transaction of $659,060.20. Following the sale, the executive vice president owned 6,606 shares of the company's stock, valued at $734,190.84. The trade was a 47.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gale E. Klappa sold 5,960 shares of WEC Energy Group 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 directly owned 274,969 shares in the company, valued at $30,516,059.62. The trade was a 2.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 68,448 shares of company stock worth $7,581,132 over the last ninety days. 0.50% of the stock is currently owned by company insiders.

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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