WEC Energy Group, Inc. $WEC Shares Sold by Keebeck Wealth Management

Key Points

• Keebeck Wealth Management cut its WEC Energy Group stake by 27.5% in the first quarter, selling 10,952 shares and leaving it with 28,871 shares worth about $3.34 million.
• Analyst sentiment is mixed but still constructive overall: WEC has a Moderate Buy consensus with an average target price of $123.20, though some firms recently raised targets while one downgraded the stock to sell.
• The company reported better-than-expected Q1 results, with earnings of $2.45 per share and revenue of $3.43 billion, and it also announced a quarterly dividend of $0.9525 per share, implying a 3.3% yield.

Keebeck Wealth Management reduced its position in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 27.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,871 shares of the utilities provider's stock after selling 10,952 shares during the period. Keebeck Wealth Management's holdings in WEC Energy Group were worth $3,342,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Godfrey Financial Associates Inc. purchased a new position in shares of WEC Energy Group in the fourth quarter valued at $25,000. Torren Management LLC purchased a new stake in shares of WEC Energy Group in the 4th quarter worth about $26,000. Osterweis Capital Management Inc. purchased a new stake in shares of WEC Energy Group in the 2nd quarter worth about $27,000. Physician Wealth Advisors Inc. grew its stake in WEC Energy Group by 113.9% in the 1st quarter. Physician Wealth Advisors Inc. now owns 246 shares of the utilities provider's stock valued at $28,000 after acquiring an additional 131 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its stake in WEC Energy Group by 972.7% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 236 shares of the utilities provider's stock valued at $28,000 after acquiring an additional 214 shares during the last quarter. 77.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WEC has been the subject of a number of research reports. Barclays lifted their target price on shares of WEC Energy Group from $111.00 to $117.00 and gave the stock an "equal weight" rating in a research report on Monday, April 20th. Wall Street Zen cut shares of WEC Energy Group from a "hold" rating to a "sell" rating in a research note on Sunday, May 24th. JPMorgan Chase & Co. lifted their price objective on WEC Energy Group from $120.00 to $124.00 and gave the stock a "neutral" rating in a research report on Thursday, July 16th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of WEC Energy Group in a research note on Friday, June 26th. Finally, KeyCorp lowered their target price on WEC Energy Group from $126.00 to $117.00 and set an "overweight" rating on the stock in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $123.20.

Insiders Place Their Bets

In other WEC Energy Group news, EVP Daniel Krueger sold 4,665 shares of the stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $110.96, for a total transaction of $517,628.40. Following the transaction, the executive vice president owned 7,346 shares of the company's stock, valued at $815,112.16. This represents a 38.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.46% of the company's stock.

WEC Energy Group Stock Performance

Shares of NYSE WEC opened at $114.65 on Friday. The company has a market cap of $37.35 billion, a PE ratio of 22.89, a price-to-earnings-growth ratio of 1.96 and a beta of 0.47. WEC Energy Group, Inc. has a 12 month low of $102.95 and a 12 month high of $119.91. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.68 and a quick ratio of 0.54. The company has a 50-day simple moving average of $113.69 and a 200-day simple moving average of $113.47.

WEC Energy Group (NYSE:WEC - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $2.45 earnings per share for the quarter, beating analysts' consensus estimates of $2.30 by $0.15. The business had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.32 billion. WEC Energy Group had a net margin of 16.25% and a return on equity of 12.72%. The company's revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.27 earnings per share. WEC Energy Group has set its FY 2026 guidance at 5.510-5.610 EPS. On average, equities analysts anticipate that WEC Energy Group, Inc. will post 5.59 earnings per share for the current year.

WEC Energy Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be issued a $0.9525 dividend. The ex-dividend date is Friday, August 14th. This represents a $3.81 annualized dividend and a yield of 3.3%. WEC Energy Group's payout ratio is 76.05%.

About WEC Energy Group

WEC Energy Group is a Milwaukee, Wisconsin–based regulated energy holding company whose primary businesses are the generation, transmission and distribution of electricity and the distribution of natural gas. The company operates through a set of utility subsidiaries that provide bundled energy service, customer billing and energy-related programs to residential, commercial and industrial customers. As a regulated utility group, WEC's operations focus on delivering reliable service while managing infrastructure investment and compliance with state and federal utility regulation.

Its utility subsidiaries include well-known regional operators such as We Energies and Wisconsin Public Service, along with Chicago-area natural gas utilities that were part of the Integrys Energy Group acquisition.

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