WEC Energy Group, Inc. $WEC Shares Bought by Sound Income Strategies LLC

Sound Income Strategies LLC raised its stake in WEC Energy Group, Inc. (NYSE:WEC) by 384.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,653 shares of the utilities provider’s stock after purchasing an additional 1,312 shares during the period. Sound Income Strategies LLC’s holdings in WEC Energy Group were worth $172,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Horizon Investment Services LLC acquired a new position in WEC Energy Group in the first quarter valued at $379,000. Los Angeles Capital Management LLC boosted its stake in WEC Energy Group by 2,964.9% in the first quarter. Los Angeles Capital Management LLC now owns 108,651 shares of the utilities provider’s stock valued at $11,841,000 after acquiring an additional 105,106 shares in the last quarter. AustralianSuper Pty Ltd acquired a new position in WEC Energy Group in the first quarter valued at $10,333,000. Sowell Financial Services LLC acquired a new position in WEC Energy Group in the first quarter valued at $325,000. Finally, CWA Asset Management Group LLC boosted its stake in shares of WEC Energy Group by 5.6% during the first quarter. CWA Asset Management Group LLC now owns 2,947 shares of the utilities provider’s stock worth $321,000 after buying an additional 157 shares during the period. Institutional investors and hedge funds own 77.20% of the company’s stock.

Insider Activity

In related news, EVP Molly A. Mulroy sold 4,030 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $110.33, for a total transaction of $444,629.90. Following the completion of the transaction, the executive vice president directly owned 5,829 shares of the company’s stock, valued at $643,113.57. This represents a 40.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Gale E. Klappa sold 35,000 shares of the stock in a transaction dated 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 directly owned 274,969 shares of the company’s stock, 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 a total of 68,448 shares of company stock valued at $7,581,132 over the last ninety days. 0.50% of the stock is currently owned by company insiders.

WEC Energy Group Trading Up 0.3%

NYSE WEC opened at $114.56 on Wednesday. The stock has a market capitalization of $36.87 billion, a P/E ratio of 21.95, a P/E/G ratio of 3.14 and a beta of 0.44. WEC Energy Group, Inc. has a 52-week low of $91.94 and a 52-week high of $114.97. The firm has a 50-day moving average price of $109.16 and a 200 day moving average price of $107.27. The company has a quick ratio of 0.40, a current ratio of 0.55 and a debt-to-equity ratio of 1.28.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.05. The firm had revenue of $2.01 billion during the quarter, compared to analysts’ expectations 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 prior year, the company posted $0.67 earnings per share. WEC Energy Group has set its FY 2025 guidance at 5.170-5.270 EPS. Equities research analysts expect that WEC Energy Group, Inc. will post 5.23 EPS for the current 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 issued a dividend of $0.8925 per share. This represents a $3.57 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Thursday, August 14th. WEC Energy Group’s dividend payout ratio is currently 68.39%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on WEC. 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. The Goldman Sachs Group downgraded shares of WEC Energy Group from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $106.00 to $100.00 in a research note on Wednesday, June 25th. Finally, 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. Three 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. According to data from MarketBeat, WEC Energy Group currently has an average rating of “Hold” and an average price target of $106.89.

WEC Energy Group Company 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.