WEC Energy Group, Inc. $WEC Shares Sold by NFJ Investment Group LLC

NFJ Investment Group LLC trimmed its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 6.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 132,617 shares of the utilities provider’s stock after selling 9,261 shares during the quarter. NFJ Investment Group LLC’s holdings in WEC Energy Group were worth $14,453,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Truvestments Capital LLC acquired a new position in WEC Energy Group during the first quarter worth about $25,000. Hughes Financial Services LLC acquired a new position in WEC Energy Group during the first quarter worth about $28,000. Opal Wealth Advisors LLC acquired a new position in WEC Energy Group during the first quarter worth about $32,000. WPG Advisers LLC acquired a new position in WEC Energy Group during the first quarter worth about $35,000. Finally, Golden State Wealth Management LLC grew its position in WEC Energy Group by 252.6% during the first quarter. Golden State Wealth Management LLC now owns 342 shares of the utilities provider’s stock worth $37,000 after buying an additional 245 shares during the period. 77.20% of the stock is currently owned by institutional investors and hedge funds.

WEC Energy Group Stock Up 0.5%

Shares of NYSE WEC opened at $107.41 on Friday. WEC Energy Group, Inc. has a 1 year low of $91.94 and a 1 year high of $111.90. The firm’s 50 day moving average price is $107.37 and its 200 day moving average price is $106.64. The firm has a market cap of $34.57 billion, a P/E ratio of 20.58, a price-to-earnings-growth ratio of 2.94 and a beta of 0.44. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.40 and a current ratio of 0.55.

WEC Energy Group (NYSE:WEC) last announced its earnings results on Wednesday, July 30th. The utilities provider reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. WEC Energy Group had a net margin of 17.87% and a return on equity of 12.90%. The firm had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same quarter last year, the business earned $0.67 earnings per share. WEC Energy Group’s revenue was up 13.4% compared to the same quarter last year. WEC Energy Group has set its FY 2025 guidance at 5.170-5.270 EPS. As a group, sell-side analysts anticipate that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

WEC Energy Group Cuts Dividend

The company 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. The ex-dividend date was Thursday, August 14th. This represents a $3.57 dividend on an annualized basis and a yield of 3.3%. WEC Energy Group’s dividend payout ratio (DPR) is 68.39%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. The Goldman Sachs Group lowered shares of WEC Energy Group from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $106.00 to $100.00 in a research report on Wednesday, June 25th. UBS Group set a $107.00 target price on shares of WEC Energy Group and gave the stock a “neutral” rating in a research report on Friday, July 11th. 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 equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $106.40.

Insider Activity at WEC Energy Group

In other WEC Energy Group news, CEO Scott J. Lauber sold 9,231 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $110.88, for a total transaction of $1,023,533.28. Following the transaction, the chief executive officer owned 56,443 shares of the company’s stock, valued at $6,258,399.84. This trade represents a 14.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Molly A. Mulroy sold 4,030 shares of the stock in a transaction that occurred on 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 directly owned 5,829 shares in the company, valued at approximately $643,113.57. This represents a 40.88% decrease in their position. 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. 0.50% of the stock is currently owned by insiders.

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.