Farther Finance Advisors LLC Cuts Position in WEC Energy Group, Inc. $WEC

Farther Finance Advisors LLC trimmed its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 13.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,861 shares of the utilities provider’s stock after selling 1,064 shares during the period. Farther Finance Advisors LLC’s holdings in WEC Energy Group were worth $715,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in WEC. Miller Howard Investments Inc. NY raised its stake in shares of WEC Energy Group by 5.7% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 15,339 shares of the utilities provider’s stock valued at $1,598,000 after acquiring an additional 823 shares during the period. Assenagon Asset Management S.A. boosted its position in WEC Energy Group by 28.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 197,250 shares of the utilities provider’s stock worth $20,553,000 after purchasing an additional 43,403 shares during the period. IFM Investors Pty Ltd increased its holdings in WEC Energy Group by 6.0% in the 2nd 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 in the last quarter. Oliver Lagore Vanvalin Investment Group purchased a new position in WEC Energy Group in the second quarter valued at about $63,000. Finally, Trust Point Inc. raised its position in WEC Energy Group by 11.6% in the second quarter. Trust Point Inc. now owns 2,186 shares of the utilities provider’s stock valued at $228,000 after purchasing an additional 228 shares during the period. Institutional investors and hedge funds own 77.20% of the company’s stock.

WEC Energy Group Stock Performance

WEC Energy Group stock opened at $111.24 on Friday. The company has a current ratio of 0.55, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28. The stock has a 50 day moving average of $108.85 and a 200-day moving average of $107.08. The stock has a market cap of $35.80 billion, a P/E ratio of 21.31, a price-to-earnings-growth ratio of 3.08 and a beta of 0.44. WEC Energy Group, Inc. has a 52 week low of $91.94 and a 52 week high of $112.88.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.05. The firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate 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 was up 13.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.67 EPS. WEC Energy Group has set its FY 2025 guidance at 5.170-5.270 EPS. On average, analysts expect that WEC Energy Group, Inc. will post 5.23 EPS 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. Investors of record on Thursday, August 14th were paid a $0.8925 dividend. This represents a $3.57 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Thursday, August 14th. WEC Energy Group’s dividend payout ratio (DPR) is 68.39%.

Insider Transactions at WEC Energy Group

In other WEC Energy Group news, Director Ulice Payne, Jr. sold 1,620 shares of the company’s stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $111.00, for a total transaction of $179,820.00. Following the sale, the director owned 20,360 shares in the company, valued at $2,259,960. This represents a 7.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Molly A. Mulroy sold 4,030 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $110.33, for a total value of $444,629.90. Following the transaction, the executive vice president directly owned 5,829 shares in the company, valued at approximately $643,113.57. This represents a 40.88% decrease in their position. The disclosure for this sale can be found here. Insiders sold 68,448 shares of company stock valued at $7,581,132 over the last 90 days. Corporate insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

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