BI Asset Management Fondsmaeglerselskab A S Has $6.29 Million Stake in WEC Energy Group, Inc. $WEC

Key Points

• BI Asset Management Fondsmaeglerselskab A S increased its stake in WEC Energy Group by 310.7% during the first quarter, acquiring an additional 43,671 shares, bringing their total holdings to 57,726 shares valued at approximately $6.29 million.
• The company recently declared a quarterly dividend of $0.8925 per share, which represents an annualized yield of 3.3%, and has set a FY 2025 EPS guidance of 5.170-5.270.
• A mix of analyst ratings has emerged, with Barclays increasing the target price to $101.00 while others, including Goldman Sachs, downgraded the stock to a sell rating and lowered the target price to $100.00.

BI Asset Management Fondsmaeglerselskab A S increased its holdings in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 310.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 57,726 shares of the utilities provider's stock after purchasing an additional 43,671 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in WEC Energy Group were worth $6,291,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Hughes Financial Services LLC acquired a new position in WEC Energy Group in the first quarter worth about $28,000. Opal Wealth Advisors LLC acquired a new stake in shares of WEC Energy Group during the first quarter worth approximately $32,000. Golden State Wealth Management LLC increased its holdings in shares of WEC Energy Group by 252.6% during the first quarter. Golden State Wealth Management LLC now owns 342 shares of the utilities provider's stock worth $37,000 after buying an additional 245 shares in the last quarter. Creekmur Asset Management LLC increased its holdings in shares of WEC Energy Group by 2,420.0% during the first quarter. Creekmur Asset Management LLC now owns 378 shares of the utilities provider's stock worth $41,000 after buying an additional 363 shares in the last quarter. Finally, Stephens Consulting LLC increased its holdings in shares of WEC Energy Group by 138.6% during the first quarter. Stephens Consulting LLC now owns 544 shares of the utilities provider's stock worth $59,000 after buying an additional 316 shares in the last quarter. Institutional investors and hedge funds own 77.20% of the company's stock.

Insider Activity at WEC Energy Group

In other news, EVP Molly A. Mulroy sold 4,030 shares of WEC Energy Group stock in a transaction on Friday, August 1st. The shares were sold at an average price of $110.33, for a total transaction of $444,629.90. Following the transaction, the executive vice president directly owned 5,829 shares of the company's stock, valued at $643,113.57. This trade represents a 40.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Daniel Krueger sold 5,930 shares of WEC Energy Group 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 in the company, valued at approximately $734,190.84. This represents a 47.30% 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 owned by corporate insiders.

WEC Energy Group Trading Down 0.0%

WEC stock traded down $0.0490 during midday trading on Friday, reaching $108.4310. The company's stock had a trading volume of 1,324,157 shares, compared to its average volume of 2,311,168. WEC Energy Group, Inc. has a 52 week low of $91.89 and a 52 week high of $111.90. The stock has a market cap of $34.90 billion, a PE ratio of 20.77, a price-to-earnings-growth ratio of 2.98 and a beta of 0.42. The company has a quick ratio of 0.40, a current ratio of 0.55 and a debt-to-equity ratio of 1.28. The business's 50-day simple moving average is $106.88 and its 200-day simple moving average is $106.35.

WEC Energy Group (NYSE:WEC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $0.76 earnings per share (EPS) 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 firm had revenue of $2.01 billion for the quarter, compared to analysts' expectations of $1.87 billion. During the same period last year, the firm 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. As a group, sell-side analysts expect that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

WEC Energy Group Cuts Dividend

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

Wall Street Analysts Forecast Growth

WEC has been the subject of several recent analyst reports. The Goldman Sachs Group lowered shares of WEC Energy Group from a "neutral" rating to a "sell" rating and dropped their price objective for the stock from $106.00 to $100.00 in a report on Wednesday, June 25th. Barclays raised their price objective on shares of WEC Energy Group from $99.00 to $101.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 29th. Scotiabank set a $115.00 price objective on shares of WEC Energy Group and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Wells Fargo & Company raised their price objective on shares of WEC Energy Group from $115.00 to $124.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Finally, Wall Street Zen lowered shares of WEC Energy Group from a "hold" rating to a "sell" rating in a report on Saturday, July 12th. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target 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.