Hennessy Advisors Inc. Acquires 1,000 Shares of WEC Energy Group, Inc. $WEC

Hennessy Advisors Inc. raised its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 0.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 173,040 shares of the utilities provider’s stock after buying an additional 1,000 shares during the period. Hennessy Advisors Inc. owned about 0.05% of WEC Energy Group worth $18,031,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in WEC. Nuveen LLC bought a new position in shares of WEC Energy Group during the first quarter valued at about $403,372,000. Charles Schwab Investment Management Inc. lifted its position in shares of WEC Energy Group by 34.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 5,213,304 shares of the utilities provider’s stock valued at $567,727,000 after purchasing an additional 1,349,522 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of WEC Energy Group by 16.6% during the first quarter. JPMorgan Chase & Co. now owns 5,103,604 shares of the utilities provider’s stock valued at $556,191,000 after purchasing an additional 726,267 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its position in shares of WEC Energy Group by 1,529.3% during the first 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 in the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in shares of WEC Energy Group by 20.6% during the first 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 in the last quarter. 77.20% of the stock is owned by institutional investors.

WEC Energy Group Stock Performance

NYSE WEC opened at $113.24 on Friday. WEC Energy Group, Inc. has a 52-week low of $91.94 and a 52-week high of $114.97. The company has a 50-day simple moving average of $109.36 and a 200 day simple moving average of $107.38. 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 capitalization of $36.45 billion, a PE ratio of 21.69, a price-to-earnings-growth ratio of 3.08 and a beta of 0.47.

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

WEC Energy Group Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Thursday, August 14th were paid a $0.8925 dividend. The ex-dividend date was Thursday, August 14th. This represents a $3.57 annualized dividend and a dividend yield of 3.2%. WEC Energy Group’s dividend payout ratio (DPR) is presently 68.39%.

Insider Transactions at WEC Energy Group

In other news, VP Anthony Reese sold 4,177 shares of WEC Energy Group stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $110.30, for a total value of $460,723.10. Following the completion of the transaction, the vice president owned 1,757 shares in the company, valued at $193,797.10. This trade represents a 70.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Molly A. Mulroy sold 4,030 shares of WEC Energy Group 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 completion of the transaction, the executive vice president owned 5,829 shares of the company’s stock, valued at $643,113.57. The trade was a 40.88% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 68,448 shares of company stock valued at $7,581,132. 0.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Wall Street Zen raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Saturday. UBS Group set a $107.00 price objective on shares of WEC Energy Group and gave the stock a “neutral” rating in a report on Friday, July 11th. Weiss Ratings restated a “buy (b-)” rating on shares of WEC Energy Group in a report on Saturday, September 27th. Citigroup began coverage on shares of WEC Energy Group in a report on Friday. They set a “buy” rating and a $131.00 price objective for the company. Finally, The Goldman Sachs Group downgraded shares of WEC Energy Group from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $106.00 to $100.00 in a report on Wednesday, June 25th. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $109.30.

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.