WEC Energy Group, Inc. $WEC Holdings Reduced by Greenleaf Trust

Greenleaf Trust decreased its position in WEC Energy Group, Inc. (NYSE:WEC) by 6.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,654 shares of the utilities provider’s stock after selling 555 shares during the period. Greenleaf Trust’s holdings in WEC Energy Group were worth $798,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Campbell Newman Asset Management Inc. grew its position in WEC Energy Group by 69.6% in the 2nd quarter. Campbell Newman Asset Management Inc. now owns 361,394 shares of the utilities provider’s stock worth $37,657,000 after purchasing an additional 148,336 shares during the last quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH grew its position in WEC Energy Group by 169.6% in the 2nd quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 5,789 shares of the utilities provider’s stock worth $603,000 after purchasing an additional 3,642 shares during the last quarter. Albion Financial Group UT grew its position in WEC Energy Group by 1.3% in the 2nd quarter. Albion Financial Group UT now owns 62,760 shares of the utilities provider’s stock worth $6,540,000 after purchasing an additional 809 shares during the last quarter. V Square Quantitative Management LLC grew its position in WEC Energy Group by 11.9% in the 2nd quarter. V Square Quantitative Management LLC now owns 4,385 shares of the utilities provider’s stock worth $457,000 after purchasing an additional 466 shares during the last quarter. Finally, Sound Income Strategies LLC lifted its stake in shares of WEC Energy Group by 384.8% in the 2nd quarter. Sound Income Strategies LLC now owns 1,653 shares of the utilities provider’s stock worth $172,000 after acquiring an additional 1,312 shares during the period. Institutional investors own 77.20% of the company’s stock.

WEC Energy Group Stock Down 0.9%

WEC stock opened at $111.97 on Friday. WEC Energy Group, Inc. has a 12 month low of $91.94 and a 12 month high of $114.97. The firm has a market cap of $36.04 billion, a PE ratio of 21.45, a P/E/G ratio of 3.11 and a beta of 0.47. The firm has a 50 day simple moving average of $109.29 and a 200 day simple moving average of $107.34. 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 (NYSE:WEC) last released its earnings results on Wednesday, July 30th. The utilities provider reported $0.76 EPS for the quarter, beating the consensus estimate of $0.71 by $0.05. WEC Energy Group had a net margin of 17.87% and a return on equity of 12.90%. The business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same period in the prior year, the business earned $0.67 earnings per share. The business’s quarterly revenue 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 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 firm also recently announced a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Thursday, August 14th were paid a dividend of $0.8925 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $3.57 annualized dividend and a yield of 3.2%. WEC Energy Group’s dividend payout ratio is currently 68.39%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on WEC shares. UBS Group set a $107.00 price target on shares of WEC Energy Group and gave the stock a “neutral” rating in a research note on Friday, July 11th. The Goldman Sachs Group lowered shares of WEC Energy Group from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $106.00 to $100.00 in a research note on Wednesday, June 25th. Finally, 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. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $106.89.

Insider Buying and Selling at WEC Energy Group

In related news, EVP Molly A. Mulroy sold 4,030 shares of the stock in a transaction that occurred on 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 sale, 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 Securities & Exchange Commission, which is available at the SEC website. Also, CEO Scott J. Lauber sold 9,231 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $110.88, for a total transaction of $1,023,533.28. Following the completion of the sale, the chief executive officer owned 56,443 shares of the company’s stock, valued at approximately $6,258,399.84. This trade represents a 14.06% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 68,448 shares of company stock valued at $7,581,132. Corporate 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.