WEC Energy Group, Inc. $WEC Shares Acquired by Exchange Traded Concepts LLC

Key Points

• Exchange Traded Concepts LLC has increased its stake in WEC Energy Group by 28.3%, owning a total of 10,909 shares worth $1.14 million after acquiring 2,403 additional shares in the second quarter.
• Insider trading reports indicate that CEO Scott J. Lauber sold 9,231 shares for over $1 million, representing a 14.06% decrease in his ownership of the stock.
• WEC Energy Group recently declared a quarterly dividend of $0.8925 per share, which reflects an annualized dividend of $3.57 and a yield of 3.3%.

Exchange Traded Concepts LLC raised its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 28.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,909 shares of the utilities provider's stock after acquiring an additional 2,403 shares during the period. Exchange Traded Concepts LLC's holdings in WEC Energy Group were worth $1,137,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of WEC. Nuveen LLC acquired a new stake in WEC Energy Group during the 1st quarter valued at approximately $403,372,000. GAMMA Investing LLC lifted its stake in shares of WEC Energy Group by 12,777.6% in the 1st quarter. GAMMA Investing LLC now owns 1,834,024 shares of the utilities provider's stock valued at $199,872,000 after purchasing an additional 1,819,782 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of WEC Energy Group by 34.9% in 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 purchasing an additional 1,349,522 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of WEC Energy Group by 16.6% in the 1st 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 during the period. Finally, T. Rowe Price Investment Management Inc. lifted its stake in shares of WEC Energy Group by 1,529.3% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 709,209 shares of the utilities provider's stock valued at $77,290,000 after purchasing an additional 665,681 shares during the period. 77.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on WEC shares. 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. Wall Street Zen cut shares of WEC Energy Group from a "hold" rating to a "sell" rating in a research note on Saturday, July 12th. Finally, The Goldman Sachs Group cut shares of WEC Energy Group from a "neutral" rating to a "sell" rating and decreased their target price for the company from $106.00 to $100.00 in a research note on Wednesday, June 25th. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, WEC Energy Group has an average rating of "Hold" and a consensus price target of $106.89.

Insider Buying and Selling at WEC Energy Group

In other WEC Energy Group news, CEO Scott J. Lauber sold 9,231 shares of WEC Energy Group stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 56,443 shares in the company, valued at $6,258,399.84. This trade represents a 14.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Molly A. Mulroy sold 4,030 shares of WEC Energy Group stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $110.33, for a total transaction of $444,629.90. Following the sale, the executive vice president owned 5,829 shares of the company's stock, valued at approximately $643,113.57. This represents a 40.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 68,448 shares of company stock valued at $7,581,132. 0.50% of the stock is currently owned by company insiders.

WEC Energy Group Trading Down 0.3%

Shares of WEC opened at $109.82 on Tuesday. The company has a current ratio of 0.55, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28. WEC Energy Group, Inc. has a 12-month low of $91.94 and a 12-month high of $111.90. The firm has a 50-day moving average price of $108.50 and a 200 day moving average price of $107.00. The firm has a market capitalization of $35.35 billion, a P/E ratio of 21.04, a P/E/G ratio of 3.03 and a beta of 0.44.

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 analysts' consensus estimates 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 business had revenue of $2.01 billion during the quarter, compared to analysts' expectations of $1.87 billion. During the same period last year, the business earned $0.67 earnings per share. The business's revenue for the quarter was up 13.4% on a year-over-year basis. WEC Energy Group has set its FY 2025 guidance at 5.170-5.270 EPS. Sell-side analysts forecast that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

WEC Energy Group Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Thursday, August 14th were given a dividend of $0.8925 per share. The ex-dividend date was Thursday, August 14th. This represents a $3.57 dividend on an annualized basis and a dividend yield of 3.3%. WEC Energy Group's dividend payout ratio (DPR) is currently 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.

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