Tortoise Capital Advisors L.L.C. Invests $2.17 Million in WEC Energy Group, Inc. $WEC

Key Points

• Tortoise Capital Advisors L.L.C. acquired 19,901 shares of WEC Energy Group, valued at around $2.17 million, during the first quarter.
• WEC Energy Group reported a net margin of 17.87% and earnings per share of $0.76, surpassing analysts' estimates of $0.71.
• The company announced a quarterly dividend of $0.8925 per share, with a current payout ratio of 68.39% and an annualized yield of 3.3%.

Tortoise Capital Advisors L.L.C. bought a new stake in WEC Energy Group, Inc. (NYSE:WEC - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 19,901 shares of the utilities provider's stock, valued at approximately $2,169,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Horizon Investment Services LLC bought a new stake in shares of WEC Energy Group in the first quarter valued at approximately $379,000. Los Angeles Capital Management LLC lifted its stake in shares of WEC Energy Group by 2,964.9% in the 1st quarter. Los Angeles Capital Management LLC now owns 108,651 shares of the utilities provider's stock valued at $11,841,000 after acquiring an additional 105,106 shares during the last quarter. AustralianSuper Pty Ltd bought a new stake in shares of WEC Energy Group in the first quarter worth $10,333,000. Sowell Financial Services LLC bought a new position in shares of WEC Energy Group in the 1st quarter worth about $325,000. Finally, CWA Asset Management Group LLC lifted its stake in shares of WEC Energy Group by 5.6% in 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 in the last quarter. Institutional investors and hedge funds own 77.20% of the company's stock.

Insider Activity

In related news, EVP Daniel Krueger sold 5,930 shares of WEC Energy Group stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $111.14, for a total value of $659,060.20. Following the completion of the sale, the executive vice president directly owned 6,606 shares in the company, valued at $734,190.84. This trade represents a 47.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Scott J. Lauber sold 9,231 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $110.88, for a total transaction of $1,023,533.28. Following the completion of the sale, the chief executive officer owned 56,443 shares in the company, valued at approximately $6,258,399.84. This trade represents a 14.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 68,448 shares of company stock worth $7,581,132. 0.50% of the stock is currently owned by insiders.

WEC Energy Group Stock Up 0.3%

Shares of WEC traded up $0.31 during midday trading on Wednesday, hitting $107.47. The company had a trading volume of 864,818 shares, compared to its average volume of 2,210,186. The company has a quick ratio of 0.40, a current ratio of 0.55 and a debt-to-equity ratio of 1.28. WEC Energy Group, Inc. has a 52 week low of $91.89 and a 52 week high of $111.90. The company's 50 day moving average price is $107.00 and its 200 day moving average price is $106.47. The stock has a market cap of $34.59 billion, a price-to-earnings ratio of 20.59, a PEG ratio of 2.94 and a beta of 0.42.

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, beating the consensus estimate of $0.71 by $0.05. WEC Energy Group had a net margin of 17.87% and a return on equity of 12.90%. The company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the previous year, the company posted $0.67 earnings per share. The company's revenue for the quarter was up 13.4% compared to the same quarter last year. WEC Energy Group has set its FY 2025 guidance at 5.170-5.270 EPS. On average, equities research analysts predict that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

WEC Energy Group Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Thursday, August 14th will be paid a $0.8925 dividend. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $3.57 dividend on an annualized basis and a yield of 3.3%. WEC Energy Group's payout ratio is currently 68.39%.

Analysts Set New Price Targets

WEC has been the subject of several analyst reports. UBS Group set a $107.00 price target on shares of WEC Energy Group and gave the company a "neutral" rating in a research report on Friday, July 11th. Barclays raised their price objective on WEC Energy Group from $99.00 to $101.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 29th. 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 report on Wednesday, June 25th. Wells Fargo & Company boosted their price objective on WEC Energy Group from $115.00 to $124.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 7th. 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 investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $106.40.

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.