WEC Energy Group, Inc. $WEC Stake Boosted by Merit Financial Group LLC

Merit Financial Group LLC grew its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 192.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 57,222 shares of the utilities provider’s stock after purchasing an additional 37,682 shares during the quarter. Merit Financial Group LLC’s holdings in WEC Energy Group were worth $5,963,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Truvestments Capital LLC bought a new position in shares of WEC Energy Group during the first quarter valued at approximately $25,000. Nova Wealth Management Inc. bought a new position in WEC Energy Group in the 1st quarter worth approximately $26,000. Hughes Financial Services LLC bought a new position in WEC Energy Group in the 1st quarter worth approximately $28,000. Opal Wealth Advisors LLC bought a new position in WEC Energy Group in the 1st quarter worth approximately $32,000. Finally, WPG Advisers LLC bought a new position in WEC Energy Group in the 1st quarter worth approximately $35,000. 77.20% of the stock is owned by institutional investors.

WEC Energy Group Stock Performance

WEC opened at $113.24 on Monday. The company has a market capitalization of $36.45 billion, a price-to-earnings ratio of 21.69, a price-to-earnings-growth 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. WEC Energy Group, Inc. has a 1-year low of $91.94 and a 1-year high of $114.97. The business has a 50 day moving average price of $109.36 and a two-hundred day moving average price of $107.37.

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, topping analysts’ consensus estimates 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 return on equity of 12.90% and a net margin of 17.87%.The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.67 earnings per share. WEC Energy Group has set its FY 2025 guidance at 5.170-5.270 EPS. Research analysts predict that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

WEC Energy Group Cuts Dividend

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on WEC. Wall Street Zen raised WEC Energy Group from a “sell” rating to a “hold” rating in a report on Saturday. Citigroup began coverage on WEC Energy Group in a report on Friday. They issued a “buy” rating and a $131.00 price objective for the company. Weiss Ratings reissued a “buy (b-)” rating on shares of WEC Energy Group in a report on Saturday, September 27th. UBS Group set a $107.00 price objective on WEC Energy Group and gave the stock a “neutral” rating in a report on Friday, July 11th. Finally, The Goldman Sachs Group lowered 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 given a Sell rating to the stock. According to MarketBeat.com, WEC Energy Group presently has an average rating of “Hold” and a consensus price target of $109.30.

Insiders Place Their Bets

In related news, VP Anthony Reese sold 4,177 shares of WEC Energy Group stock in a transaction on Friday, August 1st. The stock was sold at an average price of $110.30, for a total value of $460,723.10. Following the transaction, the vice president directly owned 1,757 shares in the company, valued at $193,797.10. The trade was a 70.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Scott J. Lauber sold 9,231 shares of WEC Energy Group 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 transaction, the chief executive officer owned 56,443 shares in the company, valued at $6,258,399.84. The trade was a 14.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 68,448 shares of company stock worth $7,581,132. Corporate insiders own 0.50% of the company’s stock.

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.