Drake & Associates LLC Purchases 1,940 Shares of WEC Energy Group, Inc. $WEC

Drake & Associates LLC grew its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 27.4% during the second quarter, HoldingsChannel.com reports. The firm owned 9,012 shares of the utilities provider’s stock after purchasing an additional 1,940 shares during the period. Drake & Associates LLC’s holdings in WEC Energy Group were worth $939,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in WEC. Truvestments Capital LLC acquired a new stake in WEC Energy Group during the 1st quarter worth approximately $25,000. Nova Wealth Management Inc. acquired a new position in WEC Energy Group in the 1st quarter valued at approximately $26,000. Hughes Financial Services LLC bought a new position in shares of WEC Energy Group during the first quarter valued at $28,000. Opal Wealth Advisors LLC acquired a new position in shares of WEC Energy Group during the first quarter worth $32,000. Finally, ORG Partners LLC grew its stake in shares of WEC Energy Group by 65.7% in the second quarter. ORG Partners LLC now owns 328 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 130 shares during the last quarter. Institutional investors and hedge funds own 77.20% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on WEC shares. UBS Group set a $107.00 target price on WEC Energy Group and gave the stock a “neutral” rating in a research report on Friday, July 11th. Scotiabank increased their price target on WEC Energy Group from $115.00 to $129.00 and gave the company an “outperform” rating in a research note on Monday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of WEC Energy Group in a research note on Saturday, September 27th. Wall Street Zen upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Citigroup started coverage on shares of WEC Energy Group in a report on Friday. They set a “buy” rating and a $131.00 price target for the company. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $110.70.

WEC Energy Group Stock Up 1.1%

Shares of WEC Energy Group stock opened at $114.54 on Tuesday. WEC Energy Group, Inc. has a one year low of $91.94 and a one year high of $114.97. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.55 and a quick ratio of 0.40. The stock’s 50-day moving average is $109.50 and its 200 day moving average is $107.43. The firm has a market cap of $36.87 billion, a price-to-earnings ratio of 21.94, a PEG ratio of 3.11 and a beta of 0.47.

WEC Energy Group (NYSE:WEC) last issued 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. 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 during the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the previous year, the company posted $0.67 earnings per share. 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. Equities research analysts anticipate that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

WEC Energy Group Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Thursday, August 14th were given a dividend of $0.8925 per share. This represents a $3.57 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Thursday, August 14th. WEC Energy Group’s payout ratio is presently 68.39%.

Insider Buying and Selling at WEC Energy Group

In other WEC Energy Group news, Director Gale E. Klappa sold 35,000 shares of the firm’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $110.73, for a total value of $3,875,550.00. Following the completion of the sale, the director directly owned 274,969 shares in the company, valued at approximately $30,447,317.37. This trade represents a 11.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Daniel Krueger sold 5,930 shares of WEC Energy Group stock in a transaction on Monday, August 4th. The shares were sold at an average price of $111.14, for a total transaction of $659,060.20. Following the completion of the sale, the executive vice president directly 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. Insiders sold 68,448 shares of company stock valued at $7,581,132 over the last 90 days. Insiders own 0.50% of the company’s stock.

WEC Energy Group Company 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.