WEC Energy Group, Inc. $WEC Shares Bought by Public Employees Retirement System of Ohio

Key Points

• The Public Employees Retirement System of Ohio increased its holdings in WEC Energy Group shares by 9.4% during the 2nd quarter, now owning a total of 106,551 shares worth approximately $11.1 million.
• WEC Energy Group reported quarterly earnings of $0.76 per share, surpassing the consensus estimate by $0.05, and had a revenue of $2.01 billion, compared to anticipated figures of $1.87 billion.
• Multiple analysts have downgraded WEC Energy Group's stock rating, with the consensus reflecting a "Hold" rating and an average price target of $106.89.

Public Employees Retirement System of Ohio grew its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 9.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 106,551 shares of the utilities provider's stock after purchasing an additional 9,148 shares during the quarter. Public Employees Retirement System of Ohio's holdings in WEC Energy Group were worth $11,103,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Truvestments Capital LLC acquired a new stake in WEC Energy Group during the 1st quarter worth $25,000. Nova Wealth Management Inc. acquired a new stake in WEC Energy Group during the 1st quarter worth $26,000. Hughes Financial Services LLC acquired a new stake in WEC Energy Group during the 1st quarter worth $28,000. Opal Wealth Advisors LLC acquired a new stake in WEC Energy Group during the 1st quarter worth $32,000. Finally, WPG Advisers LLC acquired a new stake in WEC Energy Group during the 1st quarter worth $35,000. Institutional investors and hedge funds own 77.20% of the company's stock.

WEC Energy Group Stock Up 1.5%

Shares of WEC opened at $112.90 on Friday. The firm has a market cap of $36.34 billion, a P/E ratio of 21.63, a price-to-earnings-growth ratio of 3.06 and a beta of 0.44. WEC Energy Group, Inc. has a 12-month low of $91.94 and a 12-month high of $112.92. The company's 50-day moving average price is $108.95 and its 200 day moving average price is $107.13. 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 (NYSE:WEC - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.87 billion. WEC Energy Group had a net margin of 17.87% and a return on equity of 12.90%. WEC Energy Group's revenue was up 13.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.67 EPS. WEC Energy Group has set its FY 2025 guidance at 5.170-5.270 EPS. On average, sell-side analysts forecast that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

WEC Energy Group Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Thursday, August 14th were issued a $0.8925 dividend. This represents a $3.57 annualized dividend and a yield of 3.2%. The ex-dividend date was Thursday, August 14th. WEC Energy Group's payout ratio is 68.39%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on WEC shares. 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. UBS Group set a $107.00 price target on WEC Energy Group and gave the stock a "neutral" rating in a report on Friday, July 11th. Finally, The Goldman Sachs Group lowered WEC Energy Group from a "neutral" rating to a "sell" rating and reduced their price target for the stock from $106.00 to $100.00 in a report on Wednesday, June 25th. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, WEC Energy Group has a consensus rating of "Hold" and an average price target of $106.89.

Insider Activity at WEC Energy Group

In other WEC Energy Group news, Director Ulice Payne, Jr. sold 1,620 shares of the business's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $111.00, for a total transaction of $179,820.00. Following the sale, the director directly owned 20,360 shares in the company, valued at $2,259,960. This represents a 7.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gale E. Klappa sold 5,960 shares of the business's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $110.98, for a total transaction of $661,440.80. Following the sale, the director owned 274,969 shares in the company, valued at $30,516,059.62. This trade represents a 2.12% 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 valued at $7,581,132. 0.50% of the stock is owned by company insiders.

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.

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