WEC Energy Group, Inc. $WEC Stock Position Raised by Friedenthal Financial

Friedenthal Financial lifted its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 1,151.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,258 shares of the utilities provider’s stock after acquiring an additional 8,518 shares during the quarter. Friedenthal Financial’s holdings in WEC Energy Group were worth $965,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Truvestments Capital LLC bought a new stake in shares of WEC Energy Group during the 1st quarter worth $25,000. Nova Wealth Management Inc. acquired a new stake in shares of WEC Energy Group in the first quarter worth $26,000. Hughes Financial Services LLC acquired a new stake in shares of WEC Energy Group in the first quarter worth $28,000. Opal Wealth Advisors LLC acquired a new stake in shares of WEC Energy Group in the first quarter worth $32,000. Finally, ORG Partners LLC boosted its position 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 buying an additional 130 shares during the period. 77.20% of the stock is owned by institutional investors.

Insider Activity 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 dated Friday, August 1st. The stock was sold at an average price of $110.73, for a total transaction of $3,875,550.00. Following the transaction, the director directly owned 274,969 shares in the company, valued at $30,447,317.37. This trade represents a 11.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Daniel Krueger sold 5,930 shares of the firm’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $111.14, for a total value of $659,060.20. Following the transaction, the executive vice president owned 6,606 shares in the company, 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. Over the last quarter, insiders sold 68,448 shares of company stock valued at $7,581,132. Insiders own 0.50% of the company’s stock.

WEC Energy Group Price Performance

WEC opened at $115.12 on Wednesday. The stock has a market cap of $37.05 billion, a price-to-earnings ratio of 22.05, a PEG ratio of 3.15 and a beta of 0.47. WEC Energy Group, Inc. has a 1 year low of $91.94 and a 1 year high of $115.90. The company has a current ratio of 0.55, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28. The stock has a fifty day moving average price of $109.63 and a 200 day moving average price of $107.48.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.05. The firm had revenue of $2.01 billion during 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 business’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.67 earnings per share. WEC Energy Group has set its FY 2025 guidance at 5.170-5.270 EPS. Analysts forecast that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

WEC Energy Group Cuts Dividend

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

Analyst Upgrades and Downgrades

Several analysts have recently commented on WEC shares. Scotiabank raised their target price on WEC Energy Group from $115.00 to $129.00 and gave the stock an “outperform” rating in a research report on Monday. 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. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of WEC Energy Group in a research report on Saturday, September 27th. The Goldman Sachs Group cut WEC Energy Group from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $106.00 to $100.00 in a research report on Wednesday, June 25th. Finally, Wall Street Zen raised WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Saturday. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $110.70.

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.