WEC Energy Group, Inc. (NYSE:WEC) Shares Bought by XTX Topco Ltd

Key Points

• XTX Topco Ltd has increased its stake in WEC Energy Group by 16.9%, acquiring a total of 30,286 shares valued at $3,301,000 as of its latest SEC filing.
• WEC Energy Group recently reported $2.27 earnings per share for the quarter, exceeding analysts' expectations, with revenue up 17.5% year-over-year.
• The company announced a quarterly dividend of $0.8925 per share, representing a 3.32% yield, with a payout ratio of 69.59%.

XTX Topco Ltd boosted its holdings in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 16.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 30,286 shares of the utilities provider's stock after buying an additional 4,386 shares during the period. XTX Topco Ltd's holdings in WEC Energy Group were worth $3,301,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in WEC. Wellington Management Group LLP boosted its stake in WEC Energy Group by 134.2% in the 4th quarter. Wellington Management Group LLP now owns 11,047,753 shares of the utilities provider's stock worth $1,038,931,000 after buying an additional 6,329,574 shares during the last quarter. GAMMA Investing LLC boosted its stake in WEC Energy Group by 12,777.6% in the 1st quarter. GAMMA Investing LLC now owns 1,834,024 shares of the utilities provider's stock worth $199,872,000 after buying an additional 1,819,782 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of WEC Energy Group by 3,815.2% in the 4th quarter. Janus Henderson Group PLC now owns 1,471,096 shares of the utilities provider's stock worth $138,342,000 after purchasing an additional 1,433,522 shares during the period. Talaria Asset Management Pty Ltd purchased a new position in shares of WEC Energy Group in the 4th quarter worth about $53,970,000. Finally, Nuveen Asset Management LLC raised its holdings in shares of WEC Energy Group by 15.4% in the 4th quarter. Nuveen Asset Management LLC now owns 3,935,857 shares of the utilities provider's stock worth $370,128,000 after purchasing an additional 526,014 shares during the period. 77.20% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other WEC Energy Group news, VP Joshua M. Erickson sold 2,155 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $107.77, for a total transaction of $232,244.35. Following the completion of the sale, the vice president owned 2,686 shares in the company, valued at $289,470.22. This trade represents a 44.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.50% of the stock is currently owned by company insiders.

WEC Energy Group Stock Down 0.2%

Shares of NYSE:WEC traded down $0.21 during mid-day trading on Wednesday, hitting $108.42. 3,215,965 shares of the company traded hands, compared to its average volume of 1,649,280. The firm has a market cap of $34.60 billion, a P/E ratio of 21.13, a PEG ratio of 2.98 and a beta of 0.44. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.40 and a current ratio of 0.50. WEC Energy Group, Inc. has a 52-week low of $84.35 and a 52-week high of $111.00. The firm's 50 day simple moving average is $105.81 and its 200 day simple moving average is $105.07.

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 analysts' consensus estimates of $0.71 by $0.05. WEC Energy Group had a return on equity of 12.94% and a net margin of 17.95%. The firm had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same quarter last year, the firm earned $0.67 EPS. WEC Energy Group's quarterly revenue was up 13.4% on a year-over-year basis. On average, equities analysts anticipate that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

WEC Energy Group Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Thursday, August 14th will be paid a dividend of $0.8925 per share. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $3.57 dividend on an annualized basis and a yield of 3.29%. WEC Energy Group's dividend payout ratio (DPR) is presently 69.59%.

Wall Street Analysts Forecast Growth

WEC has been the topic of a number of research reports. UBS Group set a $107.00 price objective on WEC Energy Group and gave the stock a "neutral" rating in a report on Friday, July 11th. JPMorgan Chase & Co. upgraded WEC Energy Group from an "underweight" rating to a "neutral" rating and raised their price objective for the stock from $106.00 to $108.00 in a report on Tuesday, April 8th. Barclays raised their price objective on WEC Energy Group from $99.00 to $101.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 29th. The Goldman Sachs Group downgraded WEC Energy Group from a "neutral" rating to a "sell" rating and cut their price objective for the stock from $106.00 to $100.00 in a report on Wednesday, June 25th. Finally, Scotiabank set a $115.00 price objective on WEC Energy Group and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price 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.