Belpointe Asset Management LLC Has $3.26 Million Stock Holdings in WEC Energy Group, Inc. $WEC

Belpointe Asset Management LLC trimmed its position in WEC Energy Group, Inc. (NYSE:WEC) by 19.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,885 shares of the utilities provider’s stock after selling 7,143 shares during the period. Belpointe Asset Management LLC’s holdings in WEC Energy Group were worth $3,257,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of WEC. Nuveen LLC acquired a new position in WEC Energy Group during the 1st quarter valued at about $403,372,000. GAMMA Investing LLC raised its position in WEC Energy Group by 12,777.6% in the first quarter. GAMMA Investing LLC now owns 1,834,024 shares of the utilities provider’s stock worth $199,872,000 after acquiring an additional 1,819,782 shares during the period. Janus Henderson Group PLC lifted its stake in WEC Energy Group by 3,815.2% in the fourth quarter. Janus Henderson Group PLC now owns 1,471,096 shares of the utilities provider’s stock valued at $138,342,000 after purchasing an additional 1,433,522 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of WEC Energy Group by 34.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,213,304 shares of the utilities provider’s stock valued at $567,727,000 after buying an additional 1,349,522 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of WEC Energy Group by 16.6% in the first quarter. JPMorgan Chase & Co. now owns 5,103,604 shares of the utilities provider’s stock worth $556,191,000 after purchasing an additional 726,267 shares in the last quarter. Institutional investors and hedge funds own 77.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. UBS Group set a $107.00 price target on WEC Energy Group and gave the company a “neutral” rating in a research report on Friday, July 11th. Wall Street Zen cut WEC Energy Group from a “hold” rating to a “sell” rating in a report on Saturday, July 12th. Finally, The Goldman Sachs Group lowered shares of WEC Energy Group from a “neutral” rating to a “sell” rating and reduced their target price for the company from $106.00 to $100.00 in a report on Wednesday, June 25th. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $106.40.

WEC Energy Group Price Performance

Shares of NYSE WEC opened at $107.55 on Wednesday. The company has a 50 day simple moving average of $107.58 and a two-hundred day simple moving average of $106.75. The company has a market capitalization of $34.62 billion, a price-to-earnings ratio of 20.60, a P/E/G ratio of 2.95 and a beta of 0.44. WEC Energy Group, Inc. has a fifty-two week low of $91.94 and a fifty-two 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.

WEC Energy Group (NYSE:WEC) last released its earnings results on Wednesday, July 30th. The utilities provider reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. WEC Energy Group had a return on equity of 12.90% and a net margin of 17.87%.The firm had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the prior year, the firm posted $0.67 earnings per share. The company’s quarterly revenue was up 13.4% on a year-over-year basis. 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 EPS for the current fiscal year.

WEC Energy Group Cuts Dividend

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

Insider Buying and Selling at WEC Energy Group

In related news, Director Ulice Payne, Jr. sold 1,620 shares of WEC Energy Group stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $111.00, for a total value of $179,820.00. Following the completion of the sale, the director directly owned 20,360 shares in the company, valued at approximately $2,259,960. This trade represents a 7.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gale E. Klappa sold 5,960 shares of WEC Energy Group stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $110.98, for a total transaction of $661,440.80. Following the completion of the sale, the director owned 274,969 shares of the company’s stock, valued at $30,516,059.62. This represents a 2.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 68,448 shares of company stock worth $7,581,132. Insiders own 0.50% of the company’s stock.

About WEC Energy Group

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.