Albion Financial Group UT Purchases 809 Shares of WEC Energy Group, Inc. $WEC

Albion Financial Group UT increased its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 1.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 62,760 shares of the utilities provider’s stock after acquiring an additional 809 shares during the period. Albion Financial Group UT’s holdings in WEC Energy Group were worth $6,540,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Charles Schwab Investment Management Inc. grew its stake in WEC Energy Group by 34.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,213,304 shares of the utilities provider’s stock worth $567,727,000 after buying an additional 1,349,522 shares in the last quarter. JPMorgan Chase & Co. grew its stake in WEC Energy Group by 16.6% in the 1st quarter. JPMorgan Chase & Co. now owns 5,103,604 shares of the utilities provider’s stock worth $556,191,000 after buying an additional 726,267 shares in the last quarter. Ameriprise Financial Inc. grew its stake in WEC Energy Group by 0.8% in the 1st quarter. Ameriprise Financial Inc. now owns 4,274,385 shares of the utilities provider’s stock worth $466,451,000 after buying an additional 33,810 shares in the last quarter. Northern Trust Corp grew its stake in WEC Energy Group by 4.9% in the 1st quarter. Northern Trust Corp now owns 4,003,464 shares of the utilities provider’s stock worth $436,298,000 after buying an additional 188,057 shares in the last quarter. Finally, Nuveen LLC purchased a new position in WEC Energy Group in the 1st quarter worth approximately $403,372,000. Hedge funds and other institutional investors own 77.20% of the company’s stock.

WEC Energy Group Price Performance

Shares of WEC Energy Group stock opened at $112.90 on Monday. The stock has a market capitalization of $36.34 billion, a price-to-earnings ratio of 21.63, a price-to-earnings-growth ratio of 3.10 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. The company has a fifty day moving average of $108.95 and a 200-day moving average of $107.17. WEC Energy Group, Inc. has a 52-week low of $91.94 and a 52-week high of $112.92.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.05. The business 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 firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. 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. Equities research analysts expect that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

WEC Energy Group Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Thursday, August 14th were given a dividend of $0.8925 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $3.57 annualized dividend and a yield of 3.2%. WEC Energy Group’s dividend payout ratio is presently 68.39%.

Insider Buying and Selling at WEC Energy Group

In other WEC Energy Group news, EVP Daniel Krueger sold 5,930 shares of the stock in a transaction on Monday, August 4th. The shares were sold at an average price of $111.14, for a total transaction of $659,060.20. Following the completion of the sale, the executive vice president owned 6,606 shares of the company’s stock, valued at $734,190.84. This represents a 47.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ulice Payne, Jr. sold 1,620 shares of the stock in a transaction on Thursday, August 7th. The shares were 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 $2,259,960. The trade was a 7.37% 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 worth $7,581,132 over the last ninety days. 0.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

WEC Energy Group 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.