Great Lakes Advisors LLC Has $375,000 Stock Position in WEC Energy Group, Inc. $WEC

Key Points

• Great Lakes Advisors LLC reduced its stake in WEC Energy Group by 93.4%, selling 48,283 shares, leaving it with 3,439 shares valued at approximately $375,000.
• Several institutional investors, including Focus Partners Wealth and Millennium Management, have recently increased their positions in WEC Energy Group, showcasing a positive shift in investment interest.
• WEC Energy Group reported earnings exceeding analyst expectations with a 13.4% year-over-year revenue growth, alongside announcing a quarterly dividend of $0.8925.

Great Lakes Advisors LLC lessened its holdings in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 93.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,439 shares of the utilities provider's stock after selling 48,283 shares during the quarter. Great Lakes Advisors LLC's holdings in WEC Energy Group were worth $375,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in WEC. Ashton Thomas Private Wealth LLC increased its stake in WEC Energy Group by 2.7% in the first quarter. Ashton Thomas Private Wealth LLC now owns 41,253 shares of the utilities provider's stock valued at $4,496,000 after acquiring an additional 1,088 shares during the period. Resolution Capital Ltd bought a new position in WEC Energy Group during the first quarter worth about $1,487,000. Plotkin Financial Advisors LLC acquired a new stake in WEC Energy Group during the first quarter valued at approximately $223,000. Nissay Asset Management Corp Japan ADV grew its stake in shares of WEC Energy Group by 1.3% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 39,760 shares of the utilities provider's stock valued at $4,333,000 after purchasing an additional 510 shares during the period. Finally, NewEdge Advisors LLC raised its holdings in shares of WEC Energy Group by 2.6% in the 1st quarter. NewEdge Advisors LLC now owns 53,634 shares of the utilities provider's stock worth $5,845,000 after buying an additional 1,375 shares in the last quarter. Institutional investors and hedge funds own 77.20% of the company's stock.

WEC Energy Group Price Performance

Shares of NYSE WEC traded up $0.49 during trading on Monday, reaching $111.01. The company had a trading volume of 2,388,200 shares, compared to its average volume of 1,936,969. WEC Energy Group, Inc. has a 52 week low of $91.94 and a 52 week high of $111.90. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.40 and a current ratio of 0.55. The business's 50 day moving average price is $108.05 and its 200-day moving average price is $106.87. The stock has a market cap of $35.73 billion, a PE ratio of 21.27, a PEG ratio of 3.04 and a beta of 0.44.

WEC Energy Group (NYSE:WEC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.05. The firm had revenue of $2.01 billion during the quarter, compared to analysts' expectations 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 quarter in the previous year, the company posted $0.67 EPS. WEC Energy Group has set its FY 2025 guidance at 5.170-5.270 EPS. Analysts expect that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

WEC Energy Group Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Thursday, August 14th were paid a $0.8925 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $3.57 dividend on an annualized basis and a yield of 3.2%. WEC Energy Group's dividend payout ratio (DPR) is presently 68.39%.

Insider Buying and Selling at WEC Energy Group

In other WEC Energy Group news, EVP Daniel Krueger sold 5,930 shares of the company's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $111.14, for a total value of $659,060.20. Following the completion of the sale, the executive vice president owned 6,606 shares of the company's stock, valued at approximately $734,190.84. This represents a 47.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ulice Payne, Jr. sold 1,620 shares of the stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $111.00, for a total transaction of $179,820.00. Following the completion of the sale, the director owned 20,360 shares in the company, valued at approximately $2,259,960. This trade represents a 7.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 68,448 shares of company stock valued at $7,581,132 over the last quarter. 0.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. The Goldman Sachs Group lowered 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 research note on Wednesday, June 25th. UBS Group set a $107.00 target price on shares of WEC Energy Group and gave the stock a "neutral" rating in a research report on Friday, July 11th. Finally, Wall Street Zen downgraded shares of WEC Energy Group from a "hold" rating to a "sell" rating in a report on Saturday, July 12th. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $106.40.

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.