NewEdge Advisors LLC Raises Holdings in WEC Energy Group, Inc. $WEC

NewEdge Advisors LLC grew its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 2.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 53,634 shares of the utilities provider’s stock after buying an additional 1,375 shares during the period. NewEdge Advisors LLC’s holdings in WEC Energy Group were worth $5,845,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in WEC. Cary Street Partners Financial LLC purchased a new position in shares of WEC Energy Group during the 4th quarter valued at $170,000. Captrust Financial Advisors lifted its position in shares of WEC Energy Group by 7.8% during the 4th quarter. Captrust Financial Advisors now owns 26,902 shares of the utilities provider’s stock valued at $2,530,000 after buying an additional 1,945 shares during the last quarter. CoreCap Advisors LLC lifted its position in shares of WEC Energy Group by 18.2% during the 4th quarter. CoreCap Advisors LLC now owns 1,306 shares of the utilities provider’s stock valued at $123,000 after buying an additional 201 shares during the last quarter. EP Wealth Advisors LLC lifted its position in shares of WEC Energy Group by 2.1% during the 4th quarter. EP Wealth Advisors LLC now owns 6,185 shares of the utilities provider’s stock valued at $582,000 after buying an additional 125 shares during the last quarter. Finally, Ethic Inc. lifted its position in shares of WEC Energy Group by 18.8% during the 4th quarter. Ethic Inc. now owns 15,447 shares of the utilities provider’s stock valued at $1,453,000 after buying an additional 2,447 shares during the last quarter. Hedge funds and other institutional investors own 77.20% of the company’s stock.

WEC Energy Group Price Performance

Shares of NYSE WEC opened at $107.28 on Tuesday. The firm has a market capitalization of $34.53 billion, a P/E ratio of 20.55, a P/E/G ratio of 2.96 and a beta of 0.44. The company has a quick ratio of 0.40, a current ratio of 0.55 and a debt-to-equity ratio of 1.28. The stock’s 50-day simple moving average is $107.53 and its two-hundred day simple moving average is $106.74. WEC Energy Group, Inc. has a twelve month low of $91.94 and a twelve month high of $111.90.

WEC Energy Group (NYSE:WEC) last announced its earnings results on Wednesday, July 30th. The utilities provider reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. The business had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.87 billion. WEC Energy Group had a return on equity of 12.90% and a net margin of 17.87%.The company’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.67 EPS. WEC Energy Group has set its FY 2025 guidance at 5.170-5.270 EPS. As a group, equities analysts anticipate that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

WEC Energy Group Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Thursday, August 14th were paid a $0.8925 dividend. This represents a $3.57 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Thursday, August 14th. WEC Energy Group’s dividend payout ratio is currently 68.39%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. The Goldman Sachs Group lowered WEC Energy Group from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $106.00 to $100.00 in a research note on Wednesday, June 25th. Wall Street Zen lowered WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Saturday, July 12th. Finally, UBS Group set a $107.00 price objective on WEC Energy Group and gave the company a “neutral” rating in a research note on Friday, July 11th. Three equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $106.40.

Insiders Place Their Bets

In other WEC Energy Group news, CEO Scott J. Lauber sold 9,231 shares of the company’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $110.88, for a total value of $1,023,533.28. Following the transaction, the chief executive officer directly owned 56,443 shares in the company, valued at $6,258,399.84. This represents a 14.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Daniel Krueger sold 5,930 shares of the company’s stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $111.14, for a total value of $659,060.20. Following the completion of the transaction, the executive vice president owned 6,606 shares in the company, valued at $734,190.84. This represents a 47.30% 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 worth $7,581,132. 0.50% of the stock is owned by corporate insiders.

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.