Friedenthal Financial Raises Stock Holdings in WEC Energy Group, Inc. $WEC

Friedenthal Financial grew its stake in WEC Energy Group, Inc. (NYSE:WEC) by 1,151.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,258 shares of the utilities provider’s stock after acquiring an additional 8,518 shares during the quarter. Friedenthal Financial’s holdings in WEC Energy Group were worth $965,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Truvestments Capital LLC acquired a new stake in shares of WEC Energy Group in the first quarter valued at about $25,000. Nova Wealth Management Inc. purchased a new position in WEC Energy Group in the first quarter valued at about $26,000. Hughes Financial Services LLC bought a new position in WEC Energy Group during the 1st quarter worth approximately $28,000. Opal Wealth Advisors LLC bought a new position in WEC Energy Group during the 1st quarter worth approximately $32,000. Finally, ORG Partners LLC lifted its holdings in WEC Energy Group by 65.7% during the 2nd quarter. ORG Partners LLC now owns 328 shares of the utilities provider’s stock worth $34,000 after buying an additional 130 shares during the last quarter. 77.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WEC has been the topic of several recent research reports. Scotiabank raised their price target on WEC Energy Group from $115.00 to $129.00 and gave the stock an “outperform” rating in a report on Monday. The Goldman Sachs Group downgraded WEC Energy Group from a “neutral” rating to a “sell” rating and cut their price target for the stock from $106.00 to $100.00 in a report on Wednesday, June 25th. 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 target on WEC Energy Group and gave the stock a “neutral” rating in a report on Friday, July 11th. Finally, Wall Street Zen raised WEC Energy Group from a “sell” rating to a “hold” rating in a report on Saturday. Five investment 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’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $110.70.

WEC Energy Group Stock Up 0.5%

Shares of WEC stock opened at $115.12 on Wednesday. WEC Energy Group, Inc. has a 1 year low of $91.94 and a 1 year high of $115.90. The stock has a market cap of $37.05 billion, a PE ratio of 22.05, a price-to-earnings-growth ratio of 3.15 and a beta of 0.47. The business’s fifty day moving average is $109.63 and its 200-day moving average is $107.48. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.40 and a current ratio of 0.55.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $0.76 earnings per share (EPS) for the quarter, beating 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 last year, the firm earned $0.67 EPS. 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. Equities analysts expect that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

WEC Energy Group Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Thursday, August 14th were given a dividend of $0.8925 per share. The ex-dividend date was Thursday, August 14th. This represents a $3.57 annualized dividend and a dividend yield of 3.1%. WEC Energy Group’s dividend payout ratio (DPR) is 68.39%.

Insider Activity at WEC Energy Group

In other 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 transaction of $460,723.10. Following the transaction, the vice president directly owned 1,757 shares in the company, valued at approximately $193,797.10. This trade represents a 70.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gale E. Klappa sold 35,000 shares of WEC Energy Group stock in a transaction on Friday, August 1st. The shares were sold at an average price of $110.73, for a total value of $3,875,550.00. Following the transaction, the director owned 274,969 shares in the company, valued at approximately $30,447,317.37. This trade represents a 11.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 68,448 shares of company stock worth $7,581,132 in the last quarter. Company insiders own 0.50% of the company’s stock.

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.