Centennial Wealth Advisory LLC Has $510,000 Stock Position in WEC Energy Group, Inc. $WEC

Centennial Wealth Advisory LLC decreased its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 2.3% in the second quarter, HoldingsChannel reports. The institutional investor owned 4,894 shares of the utilities provider’s stock after selling 114 shares during the period. Centennial Wealth Advisory LLC’s holdings in WEC Energy Group were worth $510,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in WEC. Nuveen LLC acquired a new position in shares of WEC Energy Group in the 1st quarter valued at $403,372,000. Charles Schwab Investment Management Inc. raised its stake in shares of 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 valued at $567,727,000 after buying an additional 1,349,522 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of 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 valued at $556,191,000 after buying an additional 726,267 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its stake in shares of WEC Energy Group by 1,529.3% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 709,209 shares of the utilities provider’s stock valued at $77,290,000 after buying an additional 665,681 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of WEC Energy Group by 20.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,519,401 shares of the utilities provider’s stock valued at $274,564,000 after buying an additional 430,269 shares in the last quarter. Institutional investors and hedge funds own 77.20% of the company’s stock.

Insider Buying and Selling at WEC Energy Group

In other WEC Energy Group news, EVP Daniel Krueger sold 5,930 shares of the company’s stock in a transaction on Monday, August 4th. The shares were sold at an average price of $111.14, for a total value of $659,060.20. Following the transaction, the executive vice president directly owned 6,606 shares in the company, valued at $734,190.84. The trade was a 47.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gale E. Klappa sold 35,000 shares of the company’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $110.73, for a total transaction of $3,875,550.00. Following the completion of the transaction, the director owned 274,969 shares in the company, valued at approximately $30,447,317.37. This 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 valued at $7,581,132 in the last 90 days. Company insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on WEC. UBS Group set a $107.00 target price on shares of WEC Energy Group and gave the stock a “neutral” rating in a report on Friday, July 11th. Wall Street Zen lowered shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Saturday, July 12th. Finally, The Goldman Sachs Group lowered shares of WEC Energy Group from a “neutral” rating to a “sell” rating and cut their price target for the company from $106.00 to $100.00 in a research note on Wednesday, June 25th. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, WEC Energy Group currently has a consensus rating of “Hold” and a consensus price target of $106.89.

WEC Energy Group Price Performance

Shares of WEC opened at $114.16 on Tuesday. The company has a market cap of $36.75 billion, a price-to-earnings ratio of 21.87, a PEG ratio of 3.10 and a beta of 0.44. WEC Energy Group, Inc. has a 1-year low of $91.94 and a 1-year high of $114.36. The company’s fifty day simple moving average is $109.07 and its 200 day simple moving average is $107.22. The company has a current ratio of 0.55, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28.

WEC Energy Group (NYSE:WEC) last issued 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 business 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 for the quarter was up 13.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.67 earnings per share. WEC Energy Group has set its FY 2025 guidance at 5.170-5.270 EPS. On average, research analysts forecast 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 announced a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Thursday, August 14th were issued a dividend of $0.8925 per share. This represents a $3.57 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Thursday, August 14th. WEC Energy Group’s payout ratio is presently 68.39%.

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.