MBB Public Markets I LLC Acquires New Position in WEC Energy Group, Inc. $WEC

MBB Public Markets I LLC acquired a new stake in shares of WEC Energy Group, Inc. (NYSE:WEC) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,975 shares of the utilities provider’s stock, valued at approximately $324,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Marcum Wealth LLC grew its holdings in WEC Energy Group by 1.3% in the first quarter. Marcum Wealth LLC now owns 7,416 shares of the utilities provider’s stock valued at $808,000 after purchasing an additional 93 shares during the period. Manchester Capital Management LLC increased its position in WEC Energy Group by 14.3% during the first quarter. Manchester Capital Management LLC now owns 744 shares of the utilities provider’s stock worth $81,000 after purchasing an additional 93 shares during the last quarter. Clean Yield Group increased its position in WEC Energy Group by 12.6% during the first quarter. Clean Yield Group now owns 867 shares of the utilities provider’s stock worth $94,000 after purchasing an additional 97 shares during the last quarter. MJP Associates Inc. ADV increased its position in WEC Energy Group by 3.4% during the fourth quarter. MJP Associates Inc. ADV now owns 3,019 shares of the utilities provider’s stock worth $284,000 after purchasing an additional 98 shares during the last quarter. Finally, Premier Path Wealth Partners LLC increased its position in WEC Energy Group by 3.0% during the first quarter. Premier Path Wealth Partners LLC now owns 3,335 shares of the utilities provider’s stock worth $363,000 after purchasing an additional 98 shares during the last quarter. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Analysts Set New Price Targets

WEC has been the subject of several research analyst reports. UBS Group set a $107.00 price target on shares of WEC Energy Group and gave the stock a “neutral” rating in a research report on Friday, July 11th. The Goldman Sachs Group lowered shares of WEC Energy Group from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $106.00 to $100.00 in a research report on Wednesday, June 25th. Finally, Wall Street Zen lowered shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Saturday, July 12th. Three 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. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $106.40.

WEC Energy Group Price Performance

WEC opened at $107.28 on Tuesday. 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, Inc. has a 52-week low of $91.94 and a 52-week high of $111.90. The company has a 50 day moving average of $107.53 and a two-hundred day moving average of $106.74. The company has a market cap 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.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. The company had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.87 billion. WEC Energy Group had a return on equity of 12.90% and a net margin of 17.87%.The firm’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.67 earnings per share. WEC Energy Group has set its FY 2025 guidance at 5.170-5.270 EPS. On average, analysts expect that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

WEC Energy Group Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Shareholders 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 dividend yield of 3.3%. The ex-dividend date was Thursday, August 14th. WEC Energy Group’s payout ratio is currently 68.39%.

Insider Activity at WEC Energy Group

In other WEC Energy Group news, EVP Molly A. Mulroy sold 4,030 shares of the business’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $110.33, for a total transaction of $444,629.90. Following the transaction, the executive vice president owned 5,829 shares in the company, valued at $643,113.57. The trade was a 40.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Daniel Krueger sold 5,930 shares of the business’s 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 transaction, the executive vice president directly owned 6,606 shares in the company, valued at approximately $734,190.84. The trade was a 47.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 68,448 shares of company stock valued at $7,581,132 over the last 90 days. Corporate 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.