Castellan Group Purchases 1,907 Shares of WEC Energy Group, Inc. $WEC

Castellan Group increased its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 6.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,434 shares of the utilities provider’s stock after buying an additional 1,907 shares during the quarter. WEC Energy Group accounts for 0.6% of Castellan Group’s portfolio, making the stock its 10th biggest holding. Castellan Group’s holdings in WEC Energy Group were worth $3,380,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Callan Family Office LLC grew its position in WEC Energy Group by 111.1% during the second quarter. Callan Family Office LLC now owns 7,204 shares of the utilities provider’s stock worth $751,000 after buying an additional 3,792 shares in the last quarter. Kampmann Melissa S. acquired a new stake in WEC Energy Group during the second quarter worth about $1,217,000. US Bancorp DE grew its position in WEC Energy Group by 0.4% during the second quarter. US Bancorp DE now owns 335,799 shares of the utilities provider’s stock worth $34,991,000 after buying an additional 1,471 shares in the last quarter. Maryland State Retirement & Pension System grew its position in WEC Energy Group by 5.0% during the second quarter. Maryland State Retirement & Pension System now owns 15,524 shares of the utilities provider’s stock worth $1,618,000 after buying an additional 740 shares in the last quarter. Finally, Friedenthal Financial grew its position in WEC Energy Group by 1,151.1% during the second quarter. Friedenthal Financial now owns 9,258 shares of the utilities provider’s stock worth $965,000 after buying an additional 8,518 shares in the last quarter. 77.20% of the stock is owned by institutional investors and hedge funds.

WEC Energy Group Stock Down 0.6%

Shares of WEC stock opened at $113.88 on Friday. The company has a market capitalization of $36.65 billion, a price-to-earnings ratio of 21.82, a P/E/G ratio of 3.15 and a beta of 0.47. WEC Energy Group, Inc. has a 12-month low of $91.94 and a 12-month high of $115.90. The firm has a fifty day moving average of $109.85 and a 200-day moving average of $107.59. The company has a quick ratio of 0.40, a current ratio of 0.55 and a debt-to-equity ratio of 1.28.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $0.76 EPS for the quarter, topping the consensus estimate of $0.71 by $0.05. The firm had revenue of $2.01 billion for 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%. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.67 EPS. WEC Energy Group has set its FY 2025 guidance at 5.170-5.270 EPS. As a group, equities research analysts predict that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

WEC Energy Group Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Investors 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 annualized dividend and a yield of 3.1%. WEC Energy Group’s dividend payout ratio is presently 68.39%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. UBS Group set a $107.00 price objective on WEC Energy Group and gave the company a “neutral” rating in a report on Friday, July 11th. Scotiabank lifted their price objective on WEC Energy Group from $115.00 to $129.00 and gave the company an “outperform” rating in a report on Monday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of WEC Energy Group in a report on Wednesday. Citigroup assumed coverage on WEC Energy Group in a report on Friday, October 3rd. They set a “buy” rating and a $131.00 price objective on the stock. Finally, The Goldman Sachs Group downgraded 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 report on Wednesday, June 25th. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, WEC Energy Group presently has an average rating of “Hold” and an average target price of $110.70.

Insider Activity

In other news, VP Anthony Reese sold 4,177 shares of the stock in a transaction on Friday, August 1st. The shares were sold at an average price of $110.30, for a total transaction of $460,723.10. Following the completion of the sale, the vice president directly owned 1,757 shares in the company, valued at $193,797.10. This represents a 70.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Daniel Krueger sold 5,930 shares of the stock in a transaction on Monday, August 4th. The stock was sold at an average price of $111.14, for a total transaction of $659,060.20. Following the sale, the executive vice president owned 6,606 shares of the company’s stock, valued at approximately $734,190.84. This trade represents a 47.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 68,448 shares of company stock valued at $7,581,132. 0.50% of the stock is currently owned by company insiders.

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.