2,339 Shares in WEC Energy Group, Inc. $WEC Bought by ICONIQ Capital LLC

ICONIQ Capital LLC bought a new position in WEC Energy Group, Inc. (NYSE:WEC) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 2,339 shares of the utilities provider’s stock, valued at approximately $255,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Horizon Investment Services LLC acquired a new stake in shares of WEC Energy Group in the first quarter valued at about $379,000. Los Angeles Capital Management LLC lifted its position in shares of WEC Energy Group by 2,964.9% during the 1st quarter. Los Angeles Capital Management LLC now owns 108,651 shares of the utilities provider’s stock worth $11,841,000 after purchasing an additional 105,106 shares during the last quarter. AustralianSuper Pty Ltd bought a new stake in WEC Energy Group during the 1st quarter valued at approximately $10,333,000. Sowell Financial Services LLC acquired a new stake in WEC Energy Group in the 1st quarter valued at approximately $325,000. Finally, CWA Asset Management Group LLC increased its position in WEC Energy Group by 5.6% in the 1st quarter. CWA Asset Management Group LLC now owns 2,947 shares of the utilities provider’s stock worth $321,000 after buying an additional 157 shares during the period. Institutional investors and hedge funds own 77.20% of the company’s stock.

WEC Energy Group Stock Down 1.4%

Shares of WEC stock opened at $107.0330 on Tuesday. WEC Energy Group, Inc. has a one year low of $91.89 and a one year high of $111.90. 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 has a fifty day moving average price of $106.94 and a 200 day moving average price of $106.47. The stock has a market cap of $34.45 billion, a P/E ratio of 20.50, a price-to-earnings-growth ratio of 2.98 and a beta of 0.42.

WEC Energy Group (NYSE:WEC) last announced 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 company had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.87 billion. WEC Energy Group had a net margin of 17.87% and a return on equity of 12.90%. The business’s revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.67 EPS. WEC Energy Group has set its FY 2025 guidance at 5.170-5.270 EPS. Analysts predict that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

WEC Energy Group Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Thursday, August 14th will be paid a dividend of $0.8925 per share. The ex-dividend date is 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 currently 68.39%.

Insider Activity at WEC Energy Group

In other WEC Energy Group news, Director Ulice Payne, Jr. sold 1,620 shares of WEC Energy Group stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $111.00, for a total transaction of $179,820.00. Following the sale, the director directly owned 20,360 shares of the company’s stock, valued at approximately $2,259,960. The trade was a 7.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gale E. Klappa sold 5,960 shares of the stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $110.98, for a total value of $661,440.80. Following the completion of the transaction, the director directly owned 274,969 shares of the company’s stock, valued at approximately $30,516,059.62. The trade was a 2.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 68,448 shares of company stock valued at $7,581,132. Corporate insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on WEC shares. Barclays increased their price objective on WEC Energy Group from $99.00 to $101.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 29th. The Goldman Sachs Group cut shares of WEC Energy Group from a “neutral” rating to a “sell” rating and cut their target price for the company from $106.00 to $100.00 in a research note on Wednesday, June 25th. Scotiabank set a $115.00 price target on shares of WEC Energy Group and gave the stock an “outperform” rating in a research report on Wednesday, May 7th. Wall Street Zen downgraded shares of WEC Energy Group from a “hold” rating to a “sell” rating in a report on Saturday, July 12th. Finally, UBS Group set a $107.00 price objective on shares of WEC Energy Group and gave the company a “neutral” rating in a research report on Friday, July 11th. Three equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $106.40.

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.