United Services Automobile Association Invests $810,000 in WEC Energy Group, Inc. $WEC

Key Points

• United Services Automobile Association has invested $810,000 in WEC Energy Group by acquiring 7,528 shares in the first quarter, indicating a growing interest in the utilities sector.
• WEC Energy Group reported earnings per share (EPS) of $0.76 for the last quarter, surpassing analysts' expectations and achieving a year-over-year revenue increase of 13.4%.
• The company has recently cut its dividend to $0.8925 per share, representing a yield of 3.3% and a payout ratio of 68.39%.

United Services Automobile Association purchased a new stake in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 7,528 shares of the utilities provider's stock, valued at approximately $810,000.

Other hedge funds have also recently made changes to their positions in the company. Truvestments Capital LLC bought a new stake in shares of WEC Energy Group in the 1st quarter worth approximately $25,000. Hughes Financial Services LLC bought a new stake in shares of WEC Energy Group in the 1st quarter worth approximately $28,000. Opal Wealth Advisors LLC bought a new stake in shares of WEC Energy Group in the 1st quarter worth approximately $32,000. WPG Advisers LLC bought a new stake in shares of WEC Energy Group in the 1st quarter worth approximately $35,000. Finally, Golden State Wealth Management LLC boosted 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 purchasing an additional 245 shares in the last quarter. 77.20% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

WEC has been the topic of a number of analyst reports. UBS Group set a $107.00 price target on WEC Energy Group and gave the stock a "neutral" rating in a research report on Friday, July 11th. Wall Street Zen cut WEC Energy Group from a "hold" rating to a "sell" rating in a research report on Saturday, July 12th. Finally, The Goldman Sachs Group cut WEC Energy Group from a "neutral" rating to a "sell" rating and lowered their price objective for the company from $106.00 to $100.00 in a research report on Wednesday, June 25th. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $106.40.

WEC Energy Group Stock Up 0.7%

WEC stock traded up $0.80 during midday trading on Friday, hitting $110.52. The company's stock had a trading volume of 1,532,663 shares, compared to its average volume of 1,936,969. The company has a market cap of $35.57 billion, a PE ratio of 21.17, a P/E/G ratio of 3.04 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 firm's 50-day moving average is $107.92 and its 200-day moving average is $106.84.

WEC Energy Group (NYSE:WEC - Get Free Report) last released 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. 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 revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.67 EPS. WEC Energy Group has set its FY 2025 guidance at 5.170-5.270 EPS. On average, equities research 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 company also recently declared 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 dividend payout ratio is presently 68.39%.

Insider Activity

In other news, EVP Daniel Krueger sold 5,930 shares of the 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 transaction, the executive vice president directly owned 6,606 shares of the company's stock, valued at $734,190.84. This represents a 47.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Anthony Reese sold 4,177 shares of the stock in a transaction on Friday, August 1st. The shares were sold at an average price of $110.30, for a total value of $460,723.10. Following the transaction, the vice president directly owned 1,757 shares in the company, valued at $193,797.10. The trade was a 70.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 68,448 shares of company stock worth $7,581,132. Insiders own 0.50% of the company's stock.

WEC Energy Group 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.