Thomasville National Bank Trims Stock Position in WEC Energy Group, Inc. $WEC

Key Points

• Thomasville National Bank reduced its stake in WEC Energy Group by 1.7%, selling 3,186 shares, and now holds 187,065 shares valued at approximately $19.5 million.
• WEC Energy Group recently reported a quarterly EPS of $0.76, exceeding expectations of $0.71, alongside a revenue of $2.01 billion, which also surpassed the $1.87 billion forecast.
• The company's quarterly dividend was declared at $0.8925 per share, which equates to an annualized rate of $3.57 and a dividend yield of 3.2%.

Thomasville National Bank reduced its stake in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 1.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 187,065 shares of the utilities provider's stock after selling 3,186 shares during the quarter. WEC Energy Group comprises 1.3% of Thomasville National Bank's portfolio, making the stock its 28th biggest position. Thomasville National Bank owned 0.06% of WEC Energy Group worth $19,492,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insiders Place Their Bets

In other news, Director Gale E. Klappa sold 5,960 shares of the firm's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $110.98, for a total value of $661,440.80. Following the completion of the sale, the director owned 274,969 shares of the company's stock, valued at $30,516,059.62. This trade represents a 2.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ulice Payne, Jr. sold 1,620 shares of WEC Energy Group stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $111.00, for a total value of $179,820.00. Following the completion of the transaction, the director owned 20,360 shares of the company's stock, valued at approximately $2,259,960. This represents a 7.37% 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 valued at $7,581,132. 0.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. UBS Group set a $107.00 target price on WEC Energy Group and gave the stock a "neutral" rating in a report on Friday, July 11th. The Goldman Sachs Group lowered WEC Energy Group from a "neutral" rating to a "sell" rating and dropped their target price for the company from $106.00 to $100.00 in a research report on Wednesday, June 25th. Finally, Wall Street Zen downgraded 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, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $106.89.

WEC Energy Group Trading Up 0.7%

WEC Energy Group stock traded up $0.76 during trading hours on Friday, reaching $110.23. 3,179,202 shares of the company's stock traded hands, compared to its average volume of 1,888,194. The firm's 50 day moving average is $108.42 and its 200-day moving average is $106.96. WEC Energy Group, Inc. has a fifty-two week low of $91.94 and a fifty-two week 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 firm has a market capitalization of $35.48 billion, a price-to-earnings ratio of 21.12, a PEG ratio of 3.03 and a beta of 0.44.

WEC Energy Group (NYSE:WEC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $0.76 earnings per share for the quarter, topping 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 return on equity of 12.90% and a net margin of 17.87%.The company's quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.67 EPS. WEC Energy Group has set its FY 2025 guidance at 5.170-5.270 EPS. On average, analysts predict that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

WEC Energy Group Cuts Dividend

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

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.