Financial Advisory Partners LLC Sells 197 Shares of WEC Energy Group, Inc. $WEC

Financial Advisory Partners LLC lessened its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 4.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 4,767 shares of the utilities provider’s stock after selling 197 shares during the period. Financial Advisory Partners LLC’s holdings in WEC Energy Group were worth $497,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Mitchell & Pahl Private Wealth LLC grew its holdings in WEC Energy Group by 1.4% during the second quarter. Mitchell & Pahl Private Wealth LLC now owns 26,811 shares of the utilities provider’s stock valued at $2,794,000 after purchasing an additional 364 shares during the period. Miller Howard Investments Inc. NY grew its holdings in WEC Energy Group by 5.7% during the second quarter. Miller Howard Investments Inc. NY now owns 15,339 shares of the utilities provider’s stock valued at $1,598,000 after purchasing an additional 823 shares during the period. Assenagon Asset Management S.A. grew its holdings in WEC Energy Group by 28.2% during the second quarter. Assenagon Asset Management S.A. now owns 197,250 shares of the utilities provider’s stock valued at $20,553,000 after purchasing an additional 43,403 shares during the period. IFM Investors Pty Ltd grew its holdings in WEC Energy Group by 6.0% during the second quarter. IFM Investors Pty Ltd now owns 70,904 shares of the utilities provider’s stock valued at $7,388,000 after purchasing an additional 4,014 shares during the period. Finally, Oliver Lagore Vanvalin Investment Group bought a new stake in WEC Energy Group during the second quarter valued at about $63,000. Institutional investors own 77.20% of the company’s stock.

WEC Energy Group Trading Up 0.7%

Shares of NYSE WEC opened at $110.23 on Monday. The business’s 50 day moving average is $108.42 and its two-hundred day moving average is $106.98. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.55 and a quick ratio of 0.40. WEC Energy Group, Inc. has a 1-year low of $91.94 and a 1-year high of $111.90. The stock has a market capitalization of $35.48 billion, a P/E ratio of 21.12, a PEG ratio of 3.03 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 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.05. WEC Energy Group had a return on equity of 12.90% and a net margin of 17.87%.The company had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the previous year, the firm posted $0.67 earnings per share. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. WEC Energy Group has set its FY 2025 guidance at 5.170-5.270 EPS. As a group, research analysts expect that WEC Energy Group, Inc. will post 5.23 EPS 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 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Thursday, August 14th. WEC Energy Group’s payout ratio is presently 68.39%.

Insider Activity at WEC Energy Group

In other news, 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 sale, the director directly owned 274,969 shares in the company, valued at approximately $30,516,059.62. This represents a 2.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Daniel Krueger sold 5,930 shares of the stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $111.14, for a total value of $659,060.20. Following the completion of the sale, the executive vice president 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 sold a total of 68,448 shares of company stock valued at $7,581,132 over the last ninety days. 0.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have issued reports on WEC shares. The Goldman Sachs Group lowered WEC Energy Group from a “neutral” rating to a “sell” rating and cut their price target for the company from $106.00 to $100.00 in a report on Wednesday, June 25th. Wall Street Zen downgraded WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Saturday, July 12th. Finally, UBS Group set a $107.00 price objective on WEC Energy Group and gave the company a “neutral” rating in a research report on Friday, July 11th. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $106.89.

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.