WEC Energy Group, Inc. $WEC Shares Purchased by Belpointe Asset Management LLC

Belpointe Asset Management LLC raised its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 6.5% in the second quarter, Holdings Channel.com reports. The fund owned 31,829 shares of the utilities provider’s stock after buying an additional 1,944 shares during the quarter. Belpointe Asset Management LLC’s holdings in WEC Energy Group were worth $3,317,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in WEC. Truvestments Capital LLC acquired a new position in WEC Energy Group during the first quarter worth about $25,000. Nova Wealth Management Inc. acquired a new stake in shares of WEC Energy Group in the 1st quarter worth approximately $26,000. Hughes Financial Services LLC acquired a new position in shares of WEC Energy Group during the 1st quarter worth $28,000. Opal Wealth Advisors LLC acquired a new stake in WEC Energy Group in the 1st quarter valued at about $32,000. Finally, ORG Partners LLC raised its position in WEC Energy Group by 65.7% during the second quarter. ORG Partners LLC now owns 328 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 130 shares during the last quarter. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Insider Transactions at WEC Energy Group

In other news, CEO Scott J. Lauber sold 9,231 shares of the firm’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $110.88, for a total value of $1,023,533.28. Following the completion of the sale, 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Molly A. Mulroy sold 4,030 shares of the business’s stock in a transaction that occurred on Friday, August 1st. The shares were 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 $643,113.57. The trade was a 40.88% decrease in their ownership of the stock. 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 in the last 90 days. 0.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

WEC Energy Group Stock Up 1.1%

Shares of WEC Energy Group stock opened at $113.24 on Monday. The company has a market capitalization of $36.45 billion, a PE ratio of 21.69, a P/E/G ratio of 3.11 and a beta of 0.47. 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 business has a 50-day moving average of $109.36 and a 200-day moving average of $107.37. WEC Energy Group, Inc. has a 1-year low of $91.94 and a 1-year high of $114.97.

WEC Energy Group (NYSE:WEC) last released its 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 firm had revenue of $2.01 billion during the quarter, compared to analyst estimates 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 previous year, the firm earned $0.67 earnings per share. WEC Energy Group has set its FY 2025 guidance at 5.170-5.270 EPS. As a group, equities analysts forecast that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

WEC Energy Group Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Thursday, August 14th were issued 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 is 68.39%.

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.