2,569 Shares in WEC Energy Group, Inc. $WEC Bought by USA Financial Formulas

USA Financial Formulas acquired a new position in shares of WEC Energy Group, Inc. (NYSE:WEC) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,569 shares of the utilities provider’s stock, valued at approximately $268,000.

A number of other institutional investors have also recently made changes to their positions in WEC. Nuveen LLC bought a new stake in shares of WEC Energy Group in the 1st quarter valued at about $403,372,000. Charles Schwab Investment Management Inc. grew its position in shares of WEC Energy Group by 34.9% in 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. JPMorgan Chase & Co. grew its position in shares of WEC Energy Group by 16.6% in the 1st quarter. JPMorgan Chase & Co. now owns 5,103,604 shares of the utilities provider’s stock valued at $556,191,000 after buying an additional 726,267 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in shares of WEC Energy Group by 1,529.3% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 709,209 shares of the utilities provider’s stock valued at $77,290,000 after purchasing an additional 665,681 shares during the period. Finally, Envestnet Asset Management Inc. lifted its stake in shares of WEC Energy Group by 20.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,519,401 shares of the utilities provider’s stock valued at $274,564,000 after purchasing an additional 430,269 shares during the period. Institutional investors own 77.20% of the company’s stock.

WEC Energy Group Stock Down 1.4%

WEC stock opened at $113.01 on Thursday. The stock’s 50 day simple moving average is $109.24 and its 200 day simple moving average is $107.31. WEC Energy Group, Inc. has a fifty-two week low of $91.94 and a fifty-two week high of $114.97. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.40 and a current ratio of 0.55. The company has a market cap of $36.38 billion, a P/E ratio of 21.65, a price-to-earnings-growth ratio of 3.15 and a beta of 0.46.

WEC Energy Group (NYSE:WEC) last posted its quarterly 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. WEC Energy Group had a return on equity of 12.90% and a net margin of 17.87%.The business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the prior year, the business earned $0.67 EPS. The firm’s revenue for the quarter 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. On average, research analysts expect that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

WEC Energy Group Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Thursday, August 14th were paid a dividend of $0.8925 per share. This represents a $3.57 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Thursday, August 14th. WEC Energy Group’s dividend payout ratio is 68.39%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on WEC shares. 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. Wall Street Zen downgraded WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Saturday, July 12th. Finally, The Goldman Sachs Group downgraded WEC Energy Group from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $106.00 to $100.00 in a research note on Wednesday, June 25th. Three investment 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $106.89.

Insider Activity

In other WEC Energy Group news, Director Gale E. Klappa sold 5,960 shares of the business’s 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 directly owned 274,969 shares of the company’s stock, valued at approximately $30,516,059.62. The trade was a 2.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ulice Payne, Jr. sold 1,620 shares of the business’s stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $111.00, for a total value of $179,820.00. Following the sale, the director directly owned 20,360 shares of the company’s stock, valued at $2,259,960. This represents a 7.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 68,448 shares of company stock worth $7,581,132. Company 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.