AQR Capital Management LLC Buys 23,292 Shares of WEC Energy Group, Inc. $WEC

AQR Capital Management LLC grew its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 7.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 322,822 shares of the utilities provider's stock after buying an additional 23,292 shares during the quarter. AQR Capital Management LLC owned approximately 0.10% of WEC Energy Group worth $35,138,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Truvestments Capital LLC bought a new stake in WEC Energy Group during the first quarter worth about $25,000. Hughes Financial Services LLC bought a new stake in shares of WEC Energy Group during the 1st quarter worth approximately $28,000. Opal Wealth Advisors LLC bought a new stake in shares of WEC Energy Group during the 1st quarter worth approximately $32,000. WPG Advisers LLC bought a new stake in shares of WEC Energy Group during the 1st quarter worth approximately $35,000. Finally, Golden State Wealth Management LLC raised its stake in shares of WEC Energy Group by 252.6% during 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. Institutional investors own 77.20% of the company's stock.

Insider Activity

In other WEC Energy Group news, CEO Scott J. Lauber sold 9,231 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $110.88, for a total transaction of $1,023,533.28. Following the transaction, the chief executive officer owned 56,443 shares in the company, valued at $6,258,399.84. This trade represents a 14.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Molly A. Mulroy sold 4,030 shares of the firm's stock in a transaction dated Friday, August 1st. The stock was 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 in the company, 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 ninety days, insiders have sold 68,448 shares of company stock worth $7,581,132. Corporate insiders own 0.50% of the company's stock.

WEC Energy Group Stock Performance

Shares of WEC traded up $0.50 during trading hours on Friday, hitting $110.22. The company had a trading volume of 415,951 shares, compared to its average volume of 2,201,150. The firm has a market cap of $35.48 billion, a price-to-earnings ratio of 21.11, a PEG ratio of 3.01 and a beta of 0.44. The business has a fifty day moving average of $107.80 and a 200-day moving average of $106.80. WEC Energy Group, Inc. has a 12 month low of $91.94 and a 12 month high of $111.90. The company has a quick ratio of 0.40, a current ratio of 0.55 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 for the quarter, beating the consensus estimate of $0.71 by $0.05. The company 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%. The company's revenue was up 13.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.67 earnings per share. WEC Energy Group has set its FY 2025 guidance at 5.170-5.270 EPS. Equities analysts anticipate that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

WEC Energy Group Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Thursday, August 14th were paid 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 3.2%. WEC Energy Group's dividend payout ratio (DPR) is 68.39%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. UBS Group set a $107.00 price target on shares of WEC Energy Group and gave the stock a "neutral" rating in a research report on Friday, July 11th. Wall Street Zen cut shares of WEC Energy Group from a "hold" rating to a "sell" rating in a report on Saturday, July 12th. Finally, The Goldman Sachs Group cut shares of WEC Energy Group from a "neutral" rating to a "sell" rating and dropped their target price for the company 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, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, WEC Energy Group has an average rating of "Hold" and an average target price of $106.40.

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.