Trexquant Investment LP Buys Shares of 9,318 WEC Energy Group, Inc. $WEC

Key Points

• Trexquant Investment LP has invested $1.02 million in WEC Energy Group, acquiring 9,318 shares valued at approximately $1,015,000.
• The company reported earnings per share of $0.76 for the last quarter, surpassing estimates, while also increasing revenue by 13.4% year-over-year.
• WEC Energy Group announced a dividend cut, with a recent quarterly payment of $0.8925, representing a yield of 3.3% and a payout ratio of 68.39%.

Trexquant Investment LP acquired a new position in WEC Energy Group, Inc. (NYSE:WEC - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 9,318 shares of the utilities provider's stock, valued at approximately $1,015,000.

Other institutional investors have also added to or reduced their stakes in the company. Marcum Wealth LLC grew its holdings in WEC Energy Group by 1.3% in the 1st quarter. Marcum Wealth LLC now owns 7,416 shares of the utilities provider's stock worth $808,000 after acquiring an additional 93 shares during the last quarter. Manchester Capital Management LLC grew its holdings in WEC Energy Group by 14.3% in the 1st quarter. Manchester Capital Management LLC now owns 744 shares of the utilities provider's stock worth $81,000 after acquiring an additional 93 shares during the last quarter. Clean Yield Group grew its holdings in WEC Energy Group by 12.6% in the 1st quarter. Clean Yield Group now owns 867 shares of the utilities provider's stock worth $94,000 after acquiring an additional 97 shares during the last quarter. MJP Associates Inc. ADV boosted its stake in shares of WEC Energy Group by 3.4% during the 4th quarter. MJP Associates Inc. ADV now owns 3,019 shares of the utilities provider's stock valued at $284,000 after purchasing an additional 98 shares in the last quarter. Finally, Premier Path Wealth Partners LLC boosted its stake in shares of WEC Energy Group by 3.0% during the 1st quarter. Premier Path Wealth Partners LLC now owns 3,335 shares of the utilities provider's stock valued at $363,000 after purchasing an additional 98 shares in the last quarter. 77.20% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Daniel Krueger sold 5,930 shares of the business'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 transaction, the executive vice president directly owned 6,606 shares of the company's stock, valued at $734,190.84. The trade was a 47.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Scott J. Lauber sold 9,231 shares of the business'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 transaction of $1,023,533.28. Following the transaction, the chief executive officer directly owned 56,443 shares of the company's stock, valued at $6,258,399.84. The trade was a 14.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 68,448 shares of company stock valued at $7,581,132 over the last three months. Corporate insiders own 0.50% of the company's stock.

Analysts Set New Price Targets

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

WEC Energy Group Stock Up 0.5%

Shares of WEC traded up $0.55 on Friday, hitting $110.27. 149,958 shares of the stock traded hands, compared to its average volume of 2,199,505. The company has a market capitalization of $35.49 billion, a PE ratio of 21.10, a P/E/G ratio of 3.01 and a beta of 0.44. 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 business has a 50 day simple moving average of $107.80 and a 200 day simple moving average of $106.80. WEC Energy Group, Inc. has a one year low of $91.94 and a one year high of $111.90.

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 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 last year, the firm earned $0.67 earnings per share. The firm's quarterly revenue 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. As a group, equities 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 business also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Thursday, August 14th were issued a dividend of $0.8925 per share. This represents a $3.57 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Thursday, August 14th. 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.